Welcome to our dedicated page for Ramaco Resources news (Ticker: METCB), a resource for investors and traders seeking the latest updates and insights on Ramaco Resources 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 (NASDAQ: METC) has announced its first quarter cash dividend for Class B common stock. The Board of Directors declared a quarterly cash dividend of $0.1971 per share on Class B common stock, payable on March 14, 2025, to shareholders of record on February 28, 2025.
Additionally, the company previously announced a quarterly Class A dividend of $0.1375 per share for the first quarter of 2025, which will be paid in Class B common stock. This Class A dividend shares the same payment and record dates as the Class B dividend.
Ramaco Resources (NASDAQ: METC) has announced its initial guidance for 2025, projecting sales volumes between 4.4-4.8 million tons with potential to reach 5 million tons based on market conditions. Production volumes are expected between 4.2-4.6 million tons, representing a 15% growth from 2024 levels.
The company has secured 2025 sales commitments of 2.9 million tons (66% of expected production), including 1.6 million tons to North American customers at $152 per ton and 1.3 million tons for export at index-linked pricing. Cash cost of sales is projected at $97-$103 per ton.
Additionally, Ramaco declared a Q1 2025 Class A dividend of $0.1375 per share, payable in Class B shares on March 14, 2025. Capital expenditures for 2025 are estimated at $60-70 million, including $20 million for growth initiatives at Elk Creek and Berwind complexes.
Ramaco Resources (NASDAQ: METC) announced that Fluor 's interim preliminary techno-economic analysis confirms the commercial and technical feasibility of the Brook Mine rare earth elements (REE) project. The mine contains one of the world's largest unconventional deposits of REE and critical minerals from coal and carbonaceous ore.
Key findings indicate that scandium, gallium, and germanium oxides account for approximately 70% of potential revenue. The Brook Mine would be the only primary source mine globally for these elements. The project features soft, non-radioactive, friable rock, potentially enabling more efficient extraction at lower capital intensity compared to traditional hard rock mines.
Final preliminary techno-economic report is expected in Q1 2025, followed by a full scoping study in Q2 2025. Construction of a commercial pilot plant is planned to begin in second half of 2025.
Ramaco Resources (NASDAQ: METC) has completed a $50 million public offering of senior unsecured notes due 2029. The notes carry an 8.375% annual interest rate, payable quarterly starting January 30, 2025. Rated 'BBB' by Egan-Jones, the notes can be redeemed after November 30, 2026, at 100% of principal plus accrued interest. The company plans to use proceeds for general corporate purposes, including future investments, capital expenditures, and working capital. The notes will be listed on Nasdaq under symbol 'METCZ', with minimum denominations of $25.00.
Ramaco Resources (NASDAQ: METC) has priced its public offering of senior unsecured notes due 2029. The notes will bear interest at 8.375% per year, payable quarterly, with gross proceeds expected to be $50 million, expandable to $57.5 million if underwriters exercise their option. The notes, to be listed on Nasdaq under symbol 'METCZ', will be issued in minimum denominations of $25.00. The company plans to use proceeds for general corporate purposes, including future investments, capital expenditures, and working capital. The offering is expected to close on November 27, 2024.
Ramaco Resources (NASDAQ: METC) announced its fourth quarter 2024 dividends for both Class A and Class B common shares, to be paid in Class B common stock on December 16, 2024, to shareholders of record on December 2, 2024. Class A shareholders will receive $0.1375 per share and Class B shareholders will receive $0.2364 per share, both converted to Class B shares based on the closing price on December 2. This stock-based dividend will increase the METCB public float by approximately 9%. The company aims to maintain strong liquidity and financial flexibility while addressing institutional investors' interest in improving Class B shares' market liquidity.
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.
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