Ramaco Resources (NASDAQ:METC) Earns “Buy” Rating from Jefferies Financial Group

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

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

Ramaco Resources Stock Down 1.1%

NASDAQ:METC opened at $22.42 on Wednesday. Ramaco Resources has a twelve month low of $6.24 and a twelve month high of $24.75. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -280.25 and a beta of 1.30. The stock has a fifty day simple moving average of $11.76 and a 200-day simple moving average of $10.17. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33.

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

Ramaco Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.0688 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.28 annualized dividend and a yield of 1.23%. Ramaco Resources’s dividend payout ratio (DPR) is presently -350.00%.

Hedge Funds Weigh In On Ramaco Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new position in Ramaco Resources in the first quarter valued at about $25,000. AlphaQuest LLC purchased a new position in Ramaco Resources in the fourth quarter valued at about $50,000. State of Wyoming purchased a new position in Ramaco Resources in the first quarter valued at about $50,000. Farther Finance Advisors LLC grew its stake in Ramaco Resources by 384.0% in the second 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. Finally, Quantbot Technologies LP purchased a new position in Ramaco Resources in the first quarter valued at about $73,000. Hedge funds and other 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.