Ramaco Resources

METC · NASDAQ

$7.22−$0.42 (−5.50%)TodayMarket closed · Oct 20, 7:54 PM ET

Prev close $7.64

METC analyst rating

BuyConsensus of 7 analysts over the last 12 months. 57% rate it a buy.

Strong buy0
Buy4
Hold3
Underperform0
Sell0

12-month price target · 11 analysts

Average $20.29 (+181.0% upside)

Low: $11.11
Now: $7.22
High: $31.50

Upgrades and downgrades

The latest rating actions, newest first

METC analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Morgan Stanley	Aug 18, 2026	Maintains	Equal-Weight	$13.00 → $11.00	53%
Baird	Aug 18, 2026	Downgrade	Outperform → Neutral	$13.00	53%
Benchmark	Aug 6, 2026	Maintains	Buy	$38.00 → $26.00	50%
Goldman Sachs	Aug 6, 2026	Maintains	Neutral	$13.00 → $11.00	46%
Goldman Sachs	Jul 9, 2026	Maintains	Neutral	$16.00 → $13.00	46%
Morgan Stanley	Jul 8, 2026	Maintains	Equal-Weight	$17.00 → $13.00	53%
B. Riley Securities	May 13, 2026	Maintains	Buy	$24.00 → $22.00	54%
Baird	May 13, 2026	Maintains	Outperform	$30.00 → $25.00	53%
Goldman Sachs	Apr 21, 2026	Upgrade	Sell → Neutral	$14.00 → $15.00	46%
Morgan Stanley	Apr 9, 2026	Maintains	Equal-Weight	$17.50 → $17.00	53%

The case for and against

Updated Jan 30, 2025

Bull case

Ramaco Resources Inc. is expected to enhance its production capacity, aiming for a run rate of approximately 5 million tons per year by the end of the year, which is anticipated to contribute positively to revenue growth while simultaneously lowering costs per ton. The company's cost per ton has reportedly improved by $10 quarter-over-quarter due to resolving geological and labor challenges, alongside increased productivity levels and a favorable shift towards higher-priced low-vol coal production. Additionally, with the Maben prep plant's completion projected for early fourth quarter, Ramaco anticipates significant savings in trucking costs, further bolstering its financial position amid signs of revitalized demand from international markets.

Bear case

Ramaco Resources Inc. has experienced a downward revision of its full-year EBITDA estimate to $128 million, down from $142 million, alongside a decrease in the 3Q EBITDA estimate to $23 million from $40 million. Production results fell short of expectations, with sales of 915,000 tons compared to the anticipated 950,000 tons, indicating challenges in both domestic and international markets due to persistent negative conditions in China and uncertainty in Europe related to the Ukraine situation. In response to the current pricing environment, the company is reducing higher-cost production and has lowered its sales guidance by 200,000 tons, reflecting ongoing operational challenges and market volatility that contribute to a negative outlook.

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