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. (METC) reported strong financial results for Q4 2023 with adjusted EBITDA of $58.5 million, net income of $30.0 million, and record liquidity of $91 million. The company repaid debt, increased sales commitments, and raised guidance for 2024. Management highlights growth trajectory and debt reduction.
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Ramaco Resources, Inc. (METC) to announce Q4 and full year 2023 financial results. Investor conference call scheduled with top executives.
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Ramaco Resources, Inc. (NASDAQ: METC) announces strong fourth quarter and annual 2023 financial results, with net income exceeding $80 million and record coal sales. The company increases its 2024 coal sales and production guidance, showcasing a significant commitment to export markets. Additionally, Ramaco purchases a preparation plant for the Maben Complex, aiming to reduce costs and enhance operational efficiency.
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Ramaco Resources, Inc. (NASDAQ: METC) has hired Evan H. Jenkins, former Chief Justice of the West Virginia Supreme Court, as its new General Counsel. The company also announced the promotion of Tyler Adkins to Senior Vice President of Law. Jenkins brings extensive legal and legislative experience to Ramaco, having served in various government and business roles. The company also declared a quarterly cash dividend for Class B shares and announced a 10% increase in the Class A dividend.
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Ramaco Resources, Inc. (NASDAQ: METC) has hired Dr. Alex Moyes as director of Critical Minerals and Planning to oversee the company's expanding rare earth element (REEs) operations. Dr. Moyes will work with Ramaco's existing research team to manage the geological and chemical assessment of REEs located at Ramaco's Brook Mine near Sheridan, Wyoming, as well as the planning and execution of the eventual extraction of these elements. The Brook Mine may contain the largest unconventional deposit of REEs discovered to date in the United States, and the company has been developing the extent of the REE deposit over the past several years in association with government researchers and mining consultancy. Moyes brings a deep background in operations management and data-driven production to his new position, including formerly as Director of Geoscience and Engineering at Dominion Energy and Vice President of Economics and Planning at FREYR Battery. The Brook Mine will potentially be the first magnetic rare earth element mine opened in the United States in decades, presenting an exciting but formidable opportunity.
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Ramaco Resources, Inc. (NASDAQ: METC) Chairman and CEO Randall Atkins is scheduled to appear for interviews at two United Kingdom television outlets to discuss Ramaco's Brook Mine project, the discovery of rare earth elements, and the company's overall metallurgical coal business.
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Ramaco Resources, Inc. (NASDAQ: METC) announced an increase in the Class A dividend by 10% and provided initial 2024 guidance. The company expects production volumes between 3.9 – 4.4 million tons, with sales commitments of over 2 million tons for delivery in 2024. They also anticipate sales to exceed production by at least 0.2 million tons and provided updates on cash cost of sales, capital expenditures, administrative costs, and rare earth element exploration.
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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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FAQ
What is the current stock price of Ramaco Resources (METC)?
The current stock price of Ramaco Resources (METC) is $10.25 as of December 20, 2024.
What is the market cap of Ramaco Resources (METC)?
The market cap of Ramaco Resources (METC) is approximately 545.8M.
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
545.78M
32.23M
9.75%
73.88%
6.07%
Coking Coal
Bituminous Coal & Lignite Mining
United States of America
LEXINGTON