Jefferies Financial Group Cuts Ramaco Resources (NASDAQ:METC) Price Target to $13.00

Ramaco Resources (NASDAQ:METC) had its price objective cut by Jefferies Financial Group from $19.00 to $13.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the energy company’s stock.

Separately, B. Riley cut their price target on shares of Ramaco Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th.

Ramaco Resources Price Performance

NASDAQ:METC opened at $9.28 on Monday. Ramaco Resources has a one year low of $9.03 and a one year high of $22.70. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 1.35. The firm’s fifty day moving average is $11.53 and its two-hundred day moving average is $11.84. The firm has a market cap of $487.47 million, a price-to-earnings ratio of 14.28 and a beta of 1.18.

Ramaco Resources (NASDAQ:METC) last announced its earnings results 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). Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The business had revenue of $167.40 million for the quarter, compared to analyst estimates of $156.41 million. During the same period last year, the firm earned $0.45 EPS. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. Research analysts expect that Ramaco Resources will post 0.86 EPS for the current year.

Ramaco Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.1375 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date of this dividend was Monday, December 2nd. Ramaco Resources’s dividend payout ratio is presently 84.62%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in shares of Ramaco Resources by 14.9% during the second quarter. American Century Companies Inc. now owns 694,615 shares of the energy company’s stock valued at $8,648,000 after purchasing an additional 90,014 shares during the period. Dimensional Fund Advisors LP increased its position in Ramaco Resources by 21.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock worth $17,186,000 after purchasing an additional 245,924 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in Ramaco Resources by 190.4% in the third quarter. Dynamic Technology Lab Private Ltd now owns 89,958 shares of the energy company’s stock worth $1,053,000 after purchasing an additional 58,980 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Ramaco Resources by 231.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 262,354 shares of the energy company’s stock worth $3,070,000 after purchasing an additional 183,163 shares during the period. Finally, Lunt Capital Management Inc. raised its holdings in Ramaco Resources by 619.0% in the 3rd quarter. Lunt Capital Management Inc. now owns 71,900 shares of the energy company’s stock worth $841,000 after acquiring an additional 61,900 shares during the period. 74.49% of the stock is owned by institutional investors and hedge funds.

About Ramaco Resources

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.