Ramaco Resources (NASDAQ:METC) Lowered to Hold Rating by Jefferies Financial Group

Jefferies Financial Group cut shares of Ramaco Resources (NASDAQ:METC) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has $33.00 price objective on the energy company’s stock, down from their prior price objective of $45.00.

Several other research analysts also recently weighed in on METC. B. Riley upped their target price on Ramaco Resources from $14.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Northland Securities started coverage on Ramaco Resources in a research note on Thursday, October 9th. They set an “outperform” rating and a $50.00 target price for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ramaco Resources in a research note on Wednesday, October 8th. Benchmark reissued a “buy” rating and issued a $24.00 price objective (up from $14.00) on shares of Ramaco Resources in a research note on Tuesday, August 5th. Finally, Baird R W raised Ramaco Resources to a “strong-buy” rating in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Ramaco Resources Trading Down 16.9%

Shares of METC stock opened at $28.22 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.36 and a quick ratio of 0.84. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -42.12 and a beta of 1.37. The stock has a 50 day simple moving average of $32.91 and a 200-day simple moving average of $20.45. Ramaco Resources has a 1-year low of $6.30 and a 1-year high of $57.80.

Ramaco Resources (NASDAQ:METC) last announced its earnings results on Monday, October 27th. The energy company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.05. The business had revenue of $121.00 million during the quarter, compared to the consensus estimate of $137.63 million. Ramaco Resources had a negative return on equity of 9.26% and a negative net margin of 5.67%.The business’s quarterly revenue was down 27.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) EPS. On average, equities research analysts expect that Ramaco Resources will post 0.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Peter A. Leidel sold 1,600,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $18.75, for a total value of $30,000,000.00. Following the completion of the transaction, the director directly owned 2,502,930 shares of the company’s stock, valued at approximately $46,929,937.50. This represents a 39.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 36.20% of the company’s stock.

Institutional Trading of Ramaco Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acuitas Investments LLC increased its stake in shares of Ramaco Resources by 17.3% in the 2nd quarter. Acuitas Investments LLC now owns 363,578 shares of the energy company’s stock worth $4,777,000 after acquiring an additional 53,621 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ramaco Resources in the 1st quarter worth $555,000. XTX Topco Ltd acquired a new stake in shares of Ramaco Resources in the 1st quarter worth $111,000. CenterBook Partners LP increased its stake in shares of Ramaco Resources by 151.0% in the 1st quarter. CenterBook Partners LP now owns 1,678,594 shares of the energy company’s stock worth $13,815,000 after acquiring an additional 1,009,782 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Ramaco Resources by 15.6% in the 1st quarter. Victory Capital Management Inc. now owns 127,062 shares of the energy company’s stock worth $1,046,000 after acquiring an additional 17,121 shares during the last quarter. 74.49% of the stock is owned by institutional investors and hedge funds.

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.