Ramaco Resources price target raised to $24 from $20 at Benchmark

Benchmark raised the firm’s price target on Ramaco Resources to $24 from $20 and keeps a Buy rating on the shares after the company reported Q4 adjusted EBITDA at the high end of its pre-released range and reaffirmed mostly all of its prior FY24 guidance. On the sales front, Ramaco has been successful diversifying its customer base by adding several long-term agreements with Asian customers, while production quality mix is expected to improve over the medium term, the analyst tells investors in a post-earnings note.