Ramaco Resources (NASDAQ:METC) Receives Buy Rating from Jefferies Financial Group

Jefferies Financial Group reiterated their buy rating on shares of Ramaco Resources (NASDAQ:METC) in a research report report published on Wednesday, MarketBeat Ratings reports. Jefferies Financial Group currently has a $27.00 target price on the energy company’s stock, up from their previous target price of $15.00.

METC has been the topic of several other reports. Benchmark decreased their target price on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. B. Riley decreased their price objective on shares of Ramaco Resources from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Finally, Wall Street Zen lowered shares of Ramaco Resources from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd.

Ramaco Resources Stock Performance

Shares of Ramaco Resources stock opened at $21.39 on Wednesday. The firm’s fifty day simple moving average is $11.22 and its 200-day simple moving average is $10.00. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -267.38 and a beta of 1.30. Ramaco Resources has a 12 month low of $6.24 and a 12 month high of $24.75. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.32 and a quick ratio of 0.87.

Ramaco Resources (NASDAQ:METC) last posted its quarterly earnings data on Monday, May 12th. The energy company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.10. Ramaco Resources had a negative net margin of 0.05% and a negative return on equity of 0.08%. The firm had revenue of $115.61 million for the quarter, compared to analyst estimates of $137.10 million. During the same period last year, the firm posted $0.23 EPS. Ramaco Resources’s quarterly revenue was down 22.0% on a year-over-year basis. As a group, equities analysts forecast that Ramaco Resources will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.0688 dividend. This represents a $0.28 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Friday, May 30th. Ramaco Resources’s payout ratio is -350.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in Ramaco Resources by 384.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,920 shares of the energy company’s stock valued at $52,000 after purchasing an additional 3,110 shares during the last quarter. Empowered Funds LLC raised its stake in Ramaco Resources by 1.8% in the 1st quarter. Empowered Funds LLC now owns 123,110 shares of the energy company’s stock valued at $1,013,000 after purchasing an additional 2,223 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Ramaco Resources by 27.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 274,545 shares of the energy company’s stock valued at $2,260,000 after purchasing an additional 58,304 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Ramaco Resources in the 1st quarter valued at about $555,000. Finally, Encompass Capital Advisors LLC acquired a new position in shares of Ramaco Resources during the 1st quarter valued at about $13,248,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

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.