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

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

Separately, B. Riley reduced their target price 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 Price Performance

METC stock opened at $9.70 on Monday. The stock has a 50-day moving average price of $11.54 and a two-hundred day moving average price of $11.86. Ramaco Resources has a 1 year low of $9.03 and a 1 year high of $22.70. The stock has a market cap of $509.53 million, a PE ratio of 14.92 and a beta of 1.18. 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 quarterly earnings data on Monday, November 4th. The energy company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The firm had revenue of $167.40 million for the quarter, compared to the consensus estimate of $156.41 million. During the same quarter in the previous year, the business posted $0.45 earnings per share. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities analysts forecast that Ramaco Resources will post 0.86 EPS for the current fiscal 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 given a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a dividend yield of 5.67%. The ex-dividend date was Monday, December 2nd. Ramaco Resources’s dividend payout ratio (DPR) is 84.62%.

Institutional Investors Weigh In On Ramaco Resources

Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP bought a new stake in Ramaco Resources during the third quarter worth $22,127,000. Dimensional Fund Advisors LP raised its holdings in shares of 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 valued at $17,186,000 after purchasing an additional 245,924 shares during the period. American Century Companies Inc. lifted its stake in Ramaco Resources by 14.9% in the 2nd 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 last quarter. Millennium Management LLC grew its holdings in Ramaco Resources by 22.4% during the second quarter. Millennium Management LLC now owns 435,007 shares of the energy company’s stock worth $5,416,000 after purchasing an additional 79,687 shares during the period. Finally, Bank of New York Mellon Corp increased 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 worth $4,774,000 after buying an additional 18,393 shares during 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.