Ramaco Resources (NASDAQ:METC) Given New $13.00 Price Target at Jefferies Financial Group

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

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

Ramaco Resources Stock Down 2.5 %

NASDAQ:METC opened at $9.28 on Monday. Ramaco Resources has a 12-month low of $9.03 and a 12-month high of $22.70. The stock’s fifty day simple moving average is $11.53 and its 200-day simple moving average is $11.84. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $487.47 million, a P/E ratio of 14.28 and a beta of 1.18.

Ramaco Resources (NASDAQ:METC) last released 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). The company had revenue of $167.40 million for the quarter, compared to the consensus estimate of $156.41 million. Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The business’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 EPS. Equities research analysts expect that Ramaco Resources will post 0.86 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.1375 per share. 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 payout ratio is 84.62%.

Institutional Investors Weigh In On Ramaco Resources

Institutional investors have recently modified their holdings of the stock. Pingora Partners LLC lifted its position in Ramaco Resources by 330.2% during the third quarter. Pingora Partners LLC now owns 3,700 shares of the energy company’s stock valued at $43,000 after purchasing an additional 2,840 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Ramaco Resources in the 3rd quarter valued at about $45,000. Segall Bryant & Hamill LLC increased its position in Ramaco Resources by 1.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 310,688 shares of the energy company’s stock valued at $3,635,000 after purchasing an additional 4,460 shares during the period. Franklin Resources Inc. boosted its position in Ramaco Resources by 28.1% during the third quarter. Franklin Resources Inc. now owns 25,330 shares of the energy company’s stock valued at $281,000 after purchasing an additional 5,561 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Ramaco Resources by 5.3% in the third quarter. Empowered Funds LLC now owns 115,017 shares of the energy company’s stock worth $1,346,000 after purchasing an additional 5,762 shares during the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

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.