Ramaco Resources initiated with an Outperform at Baird

Baird last night initiated coverage of Ramaco Resources (METC) with an Outperform rating and $63 price target The company operates four mines in the Appalachia region producing primarily metallurgical coal, and recently discovered that its Brook Mine asset in Wyoming contains a significant deposit of heavy rare earth elements and other critical minerals, the analyst tells investors in a research note. The firm believes Ramaco is well positioned to benefit as the U.S. builds out domestic rare earth production.