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

Ramaco Resources (NASDAQ:METC - Get Free Report) had its target price reduced by investment analysts at Jefferies Financial Group from $19.00 to $13.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the energy company's stock. Jefferies Financial Group's price objective would suggest a potential upside of 34.02% from the company's previous close.

Separately, B. Riley cut their price target on Ramaco Resources from $19.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday, September 17th.

Ramaco Resources Stock Down 6.4 %

METC stock traded down $0.66 during trading on Monday, reaching $9.70. 853,005 shares of the stock were exchanged, compared to its average volume of 541,902. The firm's 50 day moving average is $11.54 and its 200 day moving average is $11.86. The firm has a market cap of $509.53 million, a P/E 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 has a twelve month low of $9.03 and a twelve month high of $22.70.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued 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 firm had revenue of $167.40 million for 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%. Ramaco Resources's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 earnings per share. As a group, research analysts forecast that Ramaco Resources will post 0.86 EPS for the current year.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pingora Partners LLC boosted its stake in Ramaco Resources by 330.2% in the third quarter. Pingora Partners LLC now owns 3,700 shares of the energy company's stock valued at $43,000 after acquiring an additional 2,840 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Ramaco Resources in the third quarter valued at approximately $45,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Ramaco Resources during the second quarter valued at $94,000. Koss Olinger Consulting LLC purchased a new stake in Ramaco Resources in the second quarter worth $134,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Ramaco Resources in the second quarter valued at $139,000. 74.49% of the stock is owned by hedge funds and other institutional investors.

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.