Benchmark Rates Ramaco Resources Inc. (METC) as a 'Buy' on Rare Earth and Critical Minerals Opportunities

Ramaco Resources, Inc. (NASDAQ:METC) is one of the best American mining stocks to buy now. On August 29, Benchmark reiterated a ‘Buy’ rating on the stock and a $24 price target. The positive stance follows the stock’s remarkable return over the past six months with a 124% gain.

Additionally, Benchmark reiterated a ‘Buy’ rating following meetings with the company’s Chairman & CEO, Randy Atkins, CFO Jeremy Sussman, and EVP for Critical Minerals Mike Woloschuk. The research firm gained valuable insights into Ramaco Resources’ metallurgical coal operations and its emerging activities in rare earth elements.

The senior management team reiterated that they are ramping up operations for rare earth and critical minerals in Wyoming, thereby positioning the company for long-term growth. Ramaco Resources has successfully completed its underwritten public offering of Class A common stock, generating roughly $200 million in gross proceeds, raising significant capital to accelerate the development of its rare earth elements and critical minerals project.

The remarks also come as Ramaco Resources approves a quarterly cash dividend of $0.1918 per share, affirming its commitment to returning value to shareholders.

Ramaco Resources, Inc. (NASDAQ:METC) is a company that mines and processes metallurgical coal in Central Appalachia for steel producers. It also develops projects in Wyoming for the extraction of rare earth elements (REEs), critical minerals, and coal-based products.

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Disclosure: None. This article is originally published at Insider Monkey.