Ramaco Resources Inc (METC) Receives a Buy from B.Riley FBR

By Austin Angelo

B.Riley FBR analyst Lucas Pipes maintained a Buy rating on Ramaco Resources Inc (METCResearch Report) today and set a price target of $11. The company’s shares closed last Monday at $3.76, close to its 52-week low of $3.50.

Pipes commented:

“On August 13 (aftermarket), Ramaco Resources (METC—Buy, $11 PT) reported 2Q19 earnings of $19.1M in adjusted EBITDA, beating both our estimate and consensus of $17.0M and $18.0M, respectively. Compared to our estimates, the beat can be attributed to better-than-expected realized prices of $116 (versus our estimate of $113.03) and cash costs per ton of $71 (versus our estimate of $73.30). The company had no significant operational issue during the second quarter and, as a result, reiterated all of its major 2019 guidance. In addition, the company made progress on its export marketing book and currently has 312K tons of commitments (169K tons previously) at an average price of $124/t. In the press release, Ramaco management stated that the company is making a strong push to place its coal into key international markets.”

According to TipRanks.com, Pipes is ranked 0 out of 5 stars with an average return of -4.4% and a 40.3% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Peabody Energy Corporation Comm, Novagold Resources Inc New, and Covia Holdings Corporation.

Ramaco Resources Inc has an analyst consensus of Moderate Buy, with a price target consensus of $8.

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The company has a one-year high of $8.94 and a one-year low of $3.50. Currently, Ramaco Resources Inc has an average volume of 73.76K.

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Ramaco Resources, Inc. engages in the operation and development of coal mining properties. The firm deals with metallurgical coal in central and southern West Virginia, southwestern Virginia, and southwestern Pennsylvania. Its portfolio consists of Elk Creek, Berwind, RAM Mine, and Knox Creek.