Welcome to our dedicated page for Ramaco Resources Class B news (Ticker: METCB), a resource for investors and traders seeking the latest updates and insights on Ramaco Resources Class B stock.
Ramaco Resources, Inc. is a United States-based company that operates as a metallurgical coal company with operations in West Virginia and Virginia. Its portfolio includes properties like Elk Creek, Berwind, Knox Creek, and Maben, strategically located to serve North American and international consumers. Additionally, the company explores rare earth elements and coal-to-carbon-based products, with active mines in Central Appalachia and a rare earth mine near Sheridan, Wyoming.
Ramaco Resources reported its Q3 2024 financial results with Adjusted EBITDA of $23.6 million, down from $28.8 million in Q2 2024. The company posted a net loss of $0.2 million, compared to net income of $5.5 million in Q2 2024. Despite challenging market conditions with U.S. metallurgical coal indices falling 7% in Q3, the company achieved record quarterly production of 972,000 tons and sales of 1,023,000 tons. Cash costs decreased to $102 per ton, with costs below $100 per ton in August and September. For 2024, total sales commitments are 4.1 million tons, with 2025 commitments at 2.7 million tons. The company reduced its 2024 production guidance to 3.7-3.9 million tons.
Ramaco Resources (NASDAQ: METC, METCB) has announced it will release its third quarter 2024 financial results on Monday, November 4, 2024, after market close. The company will host an investor conference call and webcast on Tuesday, November 5, 2024, at 9:00 a.m. Eastern Time. Senior executives, including the Chairman and CEO, EVP for Mine Planning & Development, CFO, and Chief Commercial Officer, will discuss the quarterly results. The conference call will be accessible via phone and webcast.
On August 7, 2024, Ramaco Resources (NASDAQ: METC, METCB) reported its Q2 2024 financial results. Highlights include:
Adjusted EBITDA of $28.8M, up 19% QoQ. Net income surged to $5.5M from $2.0M in Q1 2024. Class A diluted EPS was $0.08 compared to $0.00 in Q1 2024. Non-GAAP cash cost per ton sold decreased by $10 to $108. Production increased by 7% to over 900K tons.
Despite a 15% quarterly decline in US coal prices, Ramaco maintained positive financials. The Board declared Q3 dividends at $0.1375 per share for Class A and $0.2246 per share for Class B stocks. The company repaid remaining $7M in acquisition debt from Maben Coal
Guidance remains strong with 2024 sales commitments of 4M tons at an average fixed price of $155 per ton. Four production growth initiatives are on track. Ramaco is also advancing its rare earth and critical mineral project in Wyoming, engaging Fluor for a techno-economic analysis.
Ramaco Resources (NASDAQ: METC, METCB) has provided an update on its Brook Mine project in Wyoming, focusing on the development of rare earth and critical mineral deposits. The company has enlisted the expertise of several third-party groups to advance the project:
Fluor will conduct a techno-economic assessment and design a demonstration plant for rare earth and critical mineral refining and processing. SGS is providing mineralogical and elemental analysis, as well as hydrometallurgy expertise. Hazen Research Inc. is contributing to mineralogical and elemental analysis, along with physical beneficiation testing. The National Energy Technology Laboratory (NETL) is assisting with deposit assessment and AI-assisted high-grade mapping.
Ramaco plans to start construction on the new processing facility in mid-2025 and expects to complete the techno-economic analysis later this year. Additional testing results are anticipated to be released in the Fall.
Ramaco Resources (NASDAQ: METC, METCB) has announced its schedule for releasing second quarter 2024 financial results. The company will report its earnings on Wednesday, August 7, 2024 after market close. The earnings release will be available on Ramaco's investor relations website and major financial information sites.
Following the release, Ramaco will host an investor conference call and webcast on Thursday, August 8, 2024, at 9:00 a.m. Eastern Time. Key executives, including Chairman and CEO Randall W. Atkins, will discuss the Q2 2024 results. Investors can access the conference call by dialing 1-877-317-6789 (domestic) or 1-412-317-6789 (international). The webcast will be available at a specific link provided in the announcement.
The fourth annual Ramaco Research Rodeo (R3) conference, hosted by Ramaco Resources, Inc. (NASDAQ: METC), brought together global researchers, political leaders, and industry experts in Sheridan, Wyoming. The event focused on coal-to-products research, rare earth elements, artificial intelligence, and critical minerals.
Key speakers included U.S. Senators John Barrasso, Shelley Moore Capito, and Joe Manchin, as well as Congresswoman Harriet Hageman. They emphasized the importance of coal's potential in producing high-value products, the development of critical minerals, and the need for secure domestic supply chains. The conference highlighted advancements in using coal as a feedstock for advanced carbon products and materials, which could significantly impact the production of synthetic graphite, activated carbon fibers, and graphene.
Ramaco Resources (NASDAQ: METC) announced a new leadership structure to foster growth. With nearly 1,000 employees, the company has restructured its finance and operations teams. Scott Spears, John Marcum, and Jeremy Sussman will take on new roles in the finance group, while Paul Horn, Chris Blanchard, and Toby Edwards will lead the mining operations. The leadership changes aim to support Ramaco's expanding coal and critical mineral projects. Additionally, Ramaco has hired four new executives earlier this year to further bolster growth.
Ramaco Resources, Inc. (NASDAQ: METC) has hired David N. Dyer as Vice President-Marketing & Analysis and Jason P. Bragg as Vice President-Land. Dyer brings extensive experience in evaluating natural resources and commodity markets internationally, while Bragg has expertise in land planning and management. Both individuals are expected to enhance Ramaco's strategic guidance and land management capabilities.
Ramaco Resources, Inc. (NASDAQ: METC) reported first-quarter 2024 financial results with adjusted EBITDA at $24.2 million, net income at $2.0 million, and Class A EPS at $0.00. The company faced challenges due to lower index pricing and higher mine costs but remains optimistic about improving results. The Board declared cash dividends and extended its Revolver facility. Market commentary indicates the expectation of increased production and declining costs in the latter half of 2024. The Company continues progress on its growth initiatives and critical mineral projects.
Ramaco Resources, Inc. announced an increase and term extension of its revolving credit facility to $275 million, led by KeyBank, N.A. The facility now consists of $200 million with an accordion feature for an additional $75 million, and the term has been extended to 2029.
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