Ramaco Resources (NASDAQ:METC) Price Target Cut to $13.00 by Analysts at Jefferies Financial Group

Ramaco Resources (NASDAQ:METC) had its target price cut by research analysts at Jefferies Financial Group from $19.00 to $13.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 25.48% from the company’s current price.

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

Ramaco Resources Stock Performance

METC opened at $10.36 on Monday. Ramaco Resources has a 1-year low of $9.03 and a 1-year high of $22.70. The company has a market cap of $544.20 million, a price-to-earnings ratio of 15.94 and a beta of 1.18. The company’s fifty day moving average price is $11.55 and its two-hundred day moving average price is $11.88. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23.

Ramaco Resources (NASDAQ:METC) last posted its earnings results on Monday, November 4th. The energy company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The business 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 revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. On average, analysts expect that Ramaco Resources will post 0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Ramaco Resources

Several hedge funds have recently modified their holdings of METC. Wellington Management Group LLP purchased a new stake in shares of Ramaco Resources during the third quarter valued at approximately $22,127,000. Dimensional Fund Advisors LP increased its position in shares of Ramaco Resources by 21.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,601 shares of the energy company’s stock valued at $17,186,000 after purchasing an additional 245,924 shares during the last quarter. American Century Companies Inc. raised its stake 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 purchasing an additional 90,014 shares during the period. Millennium Management LLC boosted its holdings in shares of Ramaco Resources by 22.4% in the 2nd quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock worth $5,416,000 after buying an additional 79,687 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Ramaco Resources by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 383,422 shares of the energy company’s stock valued at $4,774,000 after buying an additional 18,393 shares during the period. Institutional investors 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.