Jefferies Financial Group Has Lowered Expectations for Ramaco Resources (NASDAQ:METC) Stock Price

Ramaco Resources (NASDAQ:METC) had its target price cut by investment analysts at Jefferies Financial Group from $19.00 to $13.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 36.55% from the company’s previous close.

Separately, B. Riley decreased their price objective on Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th.

Ramaco Resources Stock Down 1.9 %

Ramaco Resources stock opened at $9.52 on Monday. The business has a 50 day simple moving average of $11.53 and a 200-day simple moving average of $11.84. Ramaco Resources has a 12 month low of $9.03 and a 12 month high of $22.70. The stock has a market capitalization of $500.08 million, a PE ratio of 14.65 and a beta of 1.18. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 0.86.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Monday, November 4th. The energy company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $167.40 million during the quarter, compared to analyst estimates of $156.41 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, analysts anticipate that Ramaco Resources will post 0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors have recently modified their holdings of the business. Wellington Management Group LLP acquired a new stake in Ramaco Resources in the third quarter valued at approximately $22,127,000. Dimensional Fund Advisors LP increased its holdings in Ramaco Resources by 21.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock valued at $17,186,000 after buying an additional 245,924 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Ramaco Resources by 231.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company’s stock valued at $3,070,000 after buying an additional 183,163 shares in the last quarter. Marshall Wace LLP lifted its holdings in Ramaco Resources by 287.2% during the 2nd quarter. Marshall Wace LLP now owns 125,565 shares of the energy company’s stock worth $1,563,000 after buying an additional 93,139 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Ramaco Resources by 14.9% during the 2nd quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock worth $8,648,000 after acquiring an additional 90,014 shares in the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

Ramaco Resources Company Profile

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.