Welcome to our dedicated page for Ramaco Resources news (Ticker: METC), a resource for investors and traders seeking the latest updates and insights on Ramaco Resources stock.
Ramaco Resources, Inc. (NASDAQ: METC) is a leading operator and developer of high-quality, low-cost metallurgical coal. Founded in 2015 and headquartered in Lexington, Kentucky, Ramaco Resources focuses on serving blast furnace steel mills and coke plants in both North America and international markets.
The company's core business revolves around its extensive portfolio of metallurgical coal properties across southern West Virginia, southwestern Virginia, and Pennsylvania. Notable projects include:
- Elk Creek Project: Encompassing approximately 20,552 acres of controlled mineral, this project is situated in southern West Virginia and features 24 seams of metallurgical coal.
- Berwind Coal Property: Located on the border of West Virginia and Virginia, this property comprises roughly 31,200 acres of controlled mineral and key Squire Jim seam coal deposits.
- Knox Creek Property: Spanning approximately 61,343 acres in Virginia, this property is another significant asset in Ramaco’s portfolio.
- Ram Mine Property: This project covers around 1,567 acres of controlled mineral in southwestern Pennsylvania.
Additionally, Ramaco controls mineral deposits in Sheridan, Wyoming, where they are exploring potential opportunities in rare earth elements and coal-to-carbon-based products. The company's operations are strategically located to capitalize on delivery advantages and market accessibilities.
In recent years, Ramaco Resources has undergone significant growth and development in its operations:
- In 2023, the company reported improvements in its financial metrics, including achieving significant reductions in term debt and increases in liquidity.
- The acquisition and upgrading of a coal preparation plant will enhance operational efficiency and reduce costs, particularly at the Maben Complex.
- Ramaco has expanded its banking facility to $200 million with a potential increase to $275 million, underscoring its strong financial standing.
Ramaco is also making strides in rare earth elements exploration. In 2023, they discovered a substantial deposit of primary magnetic rare earths at their Brook Mine near Sheridan, Wyoming. This initiative includes a research and pilot facility for advanced carbon products and materials from coal.
Continuous advancements and strategic expansions have positioned Ramaco Resources as a significant player in the metallurgical coal industry. With a focus on enhancing production, reducing costs, and exploring new opportunities, the company aims to sustain its growth trajectory.
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Ramaco Resources, Inc. (NASDAQ: METC) Chairman and CEO Randall Atkins is set to appear on Bloomberg TV's 'Bloomberg Markets The Close' for an interview with hosts David Westin and Romaine Bostick. This follows the recent Wall Street Journal profile titled 'The $2 Million Coal Mine That Might Hold a $37 Billion Treasure' and appearances on CNBC and Fox Business Channel, focusing on Ramaco's Brook Mine project and the discovery of rare earth elements at the site.
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Ramaco Resources, Inc. (METC) congratulates board member Aurelia Skipwith Giacometto on her appointment as Secretary of the Louisiana Department of Environmental Quality. Giacometto, a biologist, lawyer, and conservationist, previously served as Director of the United States Fish and Wildlife Service (FWS) and CEO of the International Order of T. Roosevelt. She will bring her expertise in science and conservation to serve the people of Louisiana.
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Ramaco Resources, Inc. (NASDAQ: METC) to be featured on CNBC and Fox Business Channel following the coverage of their Brook Mine project and rare earth elements discovery.
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METC - Ramaco Resources, Inc. Reports $19.5 Million Net Income in Q3 2023, 39% Increase in Tons Sold, and $50 Million Debt Repayment
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Ramaco Resources, Inc. (NASDAQ: METC) has received the Sentinels of Safety Award for mine safety for the second consecutive year. The Elk Creek plant was recognized as the top performer in the Large Coal Processing category, working 219,292 injury-free hours. Ramaco also received additional awards from the Virginia Department of Energy for Excellence in Mining, Reclamation, and Safety. The company's operations at Mudlick Creek and Jamison Creek Impoundment were recognized, and the Big Creek Surface Mine received Awards of Excellence in Safety.
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Ramaco Resources, Inc. (NASDAQ: METC) will report third quarter 2023 financial results on November 7, 2023. The earnings news release will be available on the Company's investor relations website and major financial information sites. An investor conference call and webcast will be held on November 8, 2023, where key executives will discuss the results. In addition, the company's executives will participate in upcoming investor conferences.
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Ramaco Resources provides operational and financial update for Q3 2023, expects increase in net income and Adjusted EBITDA. Raises full-year 2023 coal shipment guidance. Declares Q4 dividend for Class A common stock and increases dividend for Class B tracking stock. Updates on rare earth element developments at Brook Mine.
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Ramaco Resources, Inc. (NASDAQ: METC, METCB) reported financial results for Q2 2023, with net income of $7.6 million and Adjusted EBITDA of $30.0 million. The company experienced transportation issues with rail companies, impacting net income and Adjusted EBITDA. The Class B CORE Resources tracking shares began trading and have increased over 65%. The company approved $2.5 million for additional mine development. 2023 production guidance is 3.0 - 3.5 million tons, with sales guidance at 3.1 - 3.6 million tons. U.S. metallurgical coal spot pricing is down over 20% from H1 2023.
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Ramaco Resources, Inc. (METC) announces a 50% increase in unconventional rare earth element deposits at its Brook Mine property in Wyoming. The company also plans to begin initial mine development in Q4 2023, with a focus on rare earth and coal mining. Additionally, Ramaco has developed patented technologies to commercialize high-value carbon products using coal as feedstock.
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Ramaco Resources, Inc. (NASDAQ: METC, METCB) announces third quarter dividends on Class A and newly issued Class B CORE Resources shares, and the timing of its second quarter earnings release and conference call. The Board of Directors declared dividends of $0.125 per share for Class A and $0.1654 per share for Class B, payable on September 15, 2023. The company will report second quarter 2023 financial results on August 8, 2023, and host an investor conference call on August 9, 2023.
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FAQ
What is the current stock price of Ramaco Resources (METC)?
The current stock price of Ramaco Resources (METC) is $10.8 as of October 17, 2024.
What is the market cap of Ramaco Resources (METC)?
The market cap of Ramaco Resources (METC) is approximately 567.5M.
What is Ramaco Resources' primary business?
Ramaco Resources, Inc. primarily produces and sells metallurgical coal, catering to blast furnace steel mills and coke plants in North America and international markets.
Where are Ramaco Resources' key projects located?
Key projects include the Elk Creek, Berwind, Knox Creek, and Ram Mine properties in southern West Virginia, southwestern Virginia, and Pennsylvania.
What recent financial improvements has Ramaco Resources reported?
In 2023, Ramaco achieved significant debt reduction, increased liquidity, and enhanced operational efficiency through acquisitions and upgrades.
What is unique about Ramaco's Elk Creek project?
The Elk Creek project spans approximately 20,552 acres in southern West Virginia and features 24 seams of high-quality metallurgical coal.
What exploration initiatives is Ramaco Resources involved in?
Ramaco is exploring rare earth elements at their Brook Mine in Wyoming, where they have discovered substantial deposits of primary magnetic rare earths.
Who are Ramaco Resources' main customers?
The company's main customers are blast furnace steel mills and coke plants in North America, along with international metallurgical coal consumers.
How is Ramaco Resources expanding its financial capabilities?
Ramaco expanded its revolving credit facility to $200 million, with a potential increase to $275 million, enhancing its financial flexibility for growth.
What are some of Ramaco's key operational achievements?
Key achievements include the acquisition and upgrading of a coal preparation plant at the Maben Complex and the discovery of rare earth elements in Wyoming.
Where are Ramaco Resources' executive offices located?
Ramaco Resources' executive offices are located in Lexington, Kentucky, with operational offices in Charleston, West Virginia, and Sheridan, Wyoming.
What is Ramaco's strategy for future growth?
Ramaco aims to enhance production, reduce costs, and explore new opportunities in rare earth elements and advanced carbon products.
Ramaco Resources, Inc.
Nasdaq:METC
METC Rankings
METC Stock Data
567.48M
43.73M
9.77%
73.41%
6.85%
Coking Coal
Bituminous Coal & Lignite Mining
United States of America
LEXINGTON