Benchmark Co. analyst Nathan Martin maintained a Buy rating on Ramaco Resources today and set a price target of $24.00.
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Nathan Martin’s rating is based on several strategic developments and market conditions surrounding Ramaco Resources. The company’s management has been proactive in addressing both its traditional met coal business and its emerging rare earth element operations. Despite challenges in the export met coal market, particularly with China’s production dynamics, there is potential for domestic market support due to tightened supply from industry idlings and bankruptcies.
Nathan Martin also highlights the promising developments at Ramaco’s Brook Mine, where the pilot plant phase is set to advance the company’s capabilities in rare earth element processing. The management’s plans to fast track construction and engage in bulk testing and optimization indicate a strong commitment to growth. Additionally, potential government and private investment discussions are expected to gain momentum, further supporting the company’s expansion plans. These factors collectively contribute to the Buy rating for Ramaco Resources.
According to TipRanks, Martin is a 5-star analyst with an average return of 20.1% and a 61.54% success rate. Martin covers the Basic Materials sector, focusing on stocks such as Ramaco Resources, Suncoke Energy, and Teck Resources.