Sell Rating Issued for Ramaco Resources Amid Economic Viability Concerns and Market Downturn
Goldman Sachs analyst Brian K. Lee has issued a Sell rating for Ramaco Resources (METC), citing concerns over the economic viability of rare earth elements, particularly scandium, and a subdued outlook for the metallurgical coal market. Lee projects a 20% downside for the stock with a 12-month price target of $16, contrasting with an average expected return of 18% across his coverage universe, indicating a less favorable position for Ramaco compared to peers.
Ramaco Resources (METC) has received a new Sell rating, initiated by Goldman Sachs analyst, Brian K. Lee.
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Brian K. Lee has given his Sell rating due to a combination of factors impacting Ramaco Resources. The primary concern is the limited visibility into the economic viability of rare earth elements, particularly scandium, which the company is exploring. This uncertainty is compounded by the tempered outlook for the metallurgical coal market, which has traditionally been Ramaco’s core business.
Lee’s analysis suggests a potential 20% downside to the company’s stock, with a 12-month price target set at $16. This projection stands in contrast to the average expected total return of 18% across the analyst’s coverage universe, indicating a less favorable position for Ramaco Resources compared to its peers.
