Jim Cramer on Ramaco Resources: “Wait for a Little Bit of a Pullback”

Ramaco Resources, Inc. (NASDAQ:METC) is one of the stocks Jim Cramer offered insights on. Answering a caller’s query about the stock, Cramer commented:

“Oh man, you want to talk about coal, huh? Okay, look, the president likes coal. He likes nuclear. The president likes, he doesn’t like wind, and he doesn’t like solar. Isn’t that funny? Alright, here’s the deal. I think that coal, this stock has gone up so much. Please wait for a little bit of a pullback because the president may want coal, but the utilities don’t, and that’s, in the end, who burns the coal.”

Pixabay/Public Domain

Ramaco Resources, Inc. (NASDAQ:METC) develops and operates metallurgical coal projects, including Elk Creek, Berwind, Knox Creek, Maben, and Brook Mine. The company supplies coal to blast furnace steel mills, coke plants, and international consumers. On September 18, Jefferies analyst Christopher LaFemina raised the price target on the stock to $45 from $27 and kept a Buy rating. The analyst noted that the company’s plan to expand the Brooks Mine project would boost production of rare earths and critical minerals. He also mentioned that the new target may be on the low side, with the Brooks Mine ramp-up having a potential value of up to $77 per share.

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