Benchmark analyst Nathan Martin raised the firm’s price target on Ramaco Resources (METC) to $24 from $14 and keeps a Buy rating on the shares. Q2 adjusted EBITDA of $9M fell short of the $12M consensus and the firm’s $13M estimate, but the firm continues to believe Ramaco will “prudently wait for offtake agreements before green-lighting commercial production,” the analyst tells investors in a post-earnings note.
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