RAM Energy shares soar as analyst initiates coverage with “Market Outperform” rating

RAM Energy shares soar as analyst initiates rating

NEW YORK — Shares of oil and gas company RAM Energy Resources Inc. soared on Thursday, as an analyst initiated coverage of the company with a “Market Outperform” rating.

RAM shares jumped 35 cents, or 29 percent, to $1.56 in afternoon trading.

Rodman & Renshaw analyst Jeffrey Hayden said the company’s attractive stock price creates a “compelling opportunity” for investors. He noted that the company is trading at a steep discount compared with its peers, which makes its current stock price “really cheap.”

The company’s mature assets also supported Hayden’s strong rating for the exploration and production company.

“While RAM’s solid base of production from mature fields may not be conducive to explosive growth, it’s also not prone to the steep production declines that hit many of its peers,” Hayden said.