Ramaco Resources upgraded to Neutral from Sell at Goldman Sachs

Goldman Sachs analyst Brian Lee upgraded Ramaco Resources (METC) to Neutral from Sell with a price target of $15, up from $14. The firm’s neutral view is supported by the company’s valuation coming down to more palpable levels, attributing the weakness to operational shifts regarding its rare earths business which it had initially viewed as causing the company to be relatively overvalued, the analyst tells investors in a research note. Dynamics within the coal industry have seen some recent improvements, which can support Ramaco’s more rapid expansion of its coal assets and drive improved EBITDA generation, the firm added.