Northland analyst Jeff Grampp lowered the firm’s price target on Ramaco Resources (METC) to $44 from $50 and keeps an Outperform rating on the shares. Q3 results were positive, but updated guidance implies lower Q4 volumes, notes the analyst, who is reducing 2026 estimates in-line with this trajectory. While the investment thesis of its rare earth and critical mineral business is intact, delayed timing of its pilot plant start-up pushes out timing of full-scale operations, the analyst added.
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