Ramaco Resources reports a wider net loss for the quarter ended March 31, 2026 as metallurgical coal markets softened. Revenue was $121.6 million, down from $134.7 million a year earlier, on 892,000 tons sold versus 946,000 tons. Net loss increased to $18.3 million, with Class A basic EPS of $(0.30) and Class B basic EPS of $(0.15). Adjusted EBITDA turned slightly negative at $(1.8) million compared with $9.8 million in 2025 as pricing and volumes declined and SG&A rose. The company ended the quarter with $355.2 million in cash and cash equivalents and total debt of $452.1 million, including senior and convertible notes, and no borrowings on its $350 million revolving credit facility. Ramaco invested in its Brook Mine rare earths and critical minerals project, which remains in the exploration stage and has not yet generated revenue, and recorded a $2.6 million Section 45X tax credit tied to metallurgical coal production.
Ramaco Resources reports a wider net loss for the quarter ended March 31, 2026 as metallurgical coal markets softened. Revenue was $121.6 million, down from $134.7 million a year earlier, on 892,000 tons sold versus 946,000 tons. Net loss increased to $18.3 million, with Class A basic EPS of $(0.30) and Class B basic EPS of $(0.15). Adjusted EBITDA turned slightly negative at $(1.8) million compared with $9.8 million in 2025 as pricing and volumes declined and SG&A rose. The company ended the quarter with $355.2 million in cash and cash equivalents and total debt of $452.1 million, including senior and convertible notes, and no borrowings on its $350 million revolving credit facility. Ramaco invested in its Brook Mine rare earths and critical minerals project, which remains in the exploration stage and has not yet generated revenue, and recorded a $2.6 million Section 45X tax credit tied to metallurgical coal production.
Ramaco Resources reported a first-quarter 2026 net loss of $18.3 million, wider than the prior-year loss of $9.5 million, as revenue declined to $121.6 million from $134.7 million and non-GAAP cash margins per ton fell to $16 from $24.
The company sold 892,000 tons at an average non-GAAP revenue of $114 per ton, with cash costs of $98 per ton, and posted first-quarter Adjusted EBITDA of negative $1.8 million. Liquidity remained strong at $488.8 million, including $355.2 million of cash.
Ramaco’s board declared a Class B stock dividend of $0.1369 per share, payable in Class B shares on June 26, 2026 to holders of record on June 12, 2026, with fractional shares settled in cash. The company also repurchased $37 million of Class A stock at an average price of $14.54 under its $100 million buyback program and reaffirmed 2026 production guidance of 3.7–4.1 million tons and capital expenditures of $85–90 million while continuing to advance its Brook Mine rare earth and critical minerals project.
Ramaco Resources reported a first-quarter 2026 net loss of $18.3 million, wider than the prior-year loss of $9.5 million, as revenue declined to $121.6 million from $134.7 million and non-GAAP cash margins per ton fell to $16 from $24.
The company sold 892,000 tons at an average non-GAAP revenue of $114 per ton, with cash costs of $98 per ton, and posted first-quarter Adjusted EBITDA of negative $1.8 million. Liquidity remained strong at $488.8 million, including $355.2 million of cash.
Ramaco’s board declared a Class B stock dividend of $0.1369 per share, payable in Class B shares on June 26, 2026 to holders of record on June 12, 2026, with fractional shares settled in cash. The company also repurchased $37 million of Class A stock at an average price of $14.54 under its $100 million buyback program and reaffirmed 2026 production guidance of 3.7–4.1 million tons and capital expenditures of $85–90 million while continuing to advance its Brook Mine rare earth and critical minerals project.
Ramaco Resources, Inc. insider filings show that Discovery Global Opportunity Master Fund, Ltd, together with Discovery Capital Management, LLC and Robert K. Citrone, reported a significant indirect ownership stake. The disclosed holdings include 5,511,360 shares of Class A common stock and 127,405 shares of Class B common stock.
The group also holds a 0% Convertible Senior Note due November 1, 2031, initially convertible at a rate of 30.5460 shares per $1,000 principal amount, equal to a $32.74 conversion price and 824,679 underlying Class A shares. In addition, they entered into a total return swap referencing 477,179 Class A shares.
Ramaco Resources, Inc. insider filings show that Discovery Global Opportunity Master Fund, Ltd, together with Discovery Capital Management, LLC and Robert K. Citrone, reported a significant indirect ownership stake. The disclosed holdings include 5,511,360 shares of Class A common stock and 127,405 shares of Class B common stock.
The group also holds a 0% Convertible Senior Note due November 1, 2031, initially convertible at a rate of 30.5460 shares per $1,000 principal amount, equal to a $32.74 conversion price and 824,679 underlying Class A shares. In addition, they entered into a total return swap referencing 477,179 Class A shares.
Ramaco Resources, Inc. saw a significant shareholder execute an open-market sale of its stock. Discovery Global Opportunity Master Fund, Ltd. sold 200,000 shares of Ramaco’s Class A common stock at an average price of $14.79 per share on May 1, 2026. The shares are held in the fund’s account and may be deemed beneficially owned by Discovery Capital Management, LLC, as the fund’s investment manager, and by Robert K. Citrone as Discovery’s managing member. Following this transaction, the fund continued to hold 5,311,360 shares indirectly.
Ramaco Resources, Inc. saw a significant shareholder execute an open-market sale of its stock. Discovery Global Opportunity Master Fund, Ltd. sold 200,000 shares of Ramaco’s Class A common stock at an average price of $14.79 per share on May 1, 2026. The shares are held in the fund’s account and may be deemed beneficially owned by Discovery Capital Management, LLC, as the fund’s investment manager, and by Robert K. Citrone as Discovery’s managing member. Following this transaction, the fund continued to hold 5,311,360 shares indirectly.
Ramaco Resources, Inc. is asking shareholders to approve several items at its fully virtual 2026 Annual Meeting on June 10, 2026. Shareholders will vote on electing three directors, ratifying Grant Thornton LLP as auditor for 2026, and an advisory say-on-pay resolution.
The company is also seeking approval to amend its Long-Term Incentive Plan to add 4,000,000 additional shares of Class A common stock for equity awards. The proxy describes board structure, committee responsibilities, related-party transactions, and shows that directors and current executives collectively own 46.1% of the outstanding common stock as of April 20, 2026.
Ramaco Resources, Inc. is asking shareholders to approve several items at its fully virtual 2026 Annual Meeting on June 10, 2026. Shareholders will vote on electing three directors, ratifying Grant Thornton LLP as auditor for 2026, and an advisory say-on-pay resolution.
The company is also seeking approval to amend its Long-Term Incentive Plan to add 4,000,000 additional shares of Class A common stock for equity awards. The proxy describes board structure, committee responsibilities, related-party transactions, and shows that directors and current executives collectively own 46.1% of the outstanding common stock as of April 20, 2026.
Ramaco Resources, Inc. major stockholders Yorktown funds updated their ownership and recent trades in Class B Common Stock. As of late March and April 2026, Yorktown Energy Partners IX, X and XI report holdings of 1,233,952, 826,611 and 1,250,613 Class B shares, representing 11.06%, 7.41% and 11.21% of this class, based on 11,155,785 shares outstanding as of February 25, 2026. The amendment also notes that the funds received additional Class B shares as payment-in-kind dividends during 2024–2026 and that from March 24 to March 30, 2026 they collectively sold 52,410 Class B shares in a series of open-market transactions at weighted average prices between $10.3381 and $11.5756 per share. Each Yorktown entity continues to disclaim beneficial ownership beyond its pecuniary interest.
Ramaco Resources, Inc. major stockholders Yorktown funds updated their ownership and recent trades in Class B Common Stock. As of late March and April 2026, Yorktown Energy Partners IX, X and XI report holdings of 1,233,952, 826,611 and 1,250,613 Class B shares, representing 11.06%, 7.41% and 11.21% of this class, based on 11,155,785 shares outstanding as of February 25, 2026. The amendment also notes that the funds received additional Class B shares as payment-in-kind dividends during 2024–2026 and that from March 24 to March 30, 2026 they collectively sold 52,410 Class B shares in a series of open-market transactions at weighted average prices between $10.3381 and $11.5756 per share. Each Yorktown entity continues to disclaim beneficial ownership beyond its pecuniary interest.
Yorktown XI Associates LLC reported indirect open-market sales of Ramaco Resources, Inc. Class B Common Stock. On March 27, 2026, an affiliated entity sold 8,168 shares at a weighted average price of $10.9327 per share. On March 30, 2026, it sold 2,297 shares at a weighted average price of $10.3381 per share. After these transactions, the affiliated fund held 1,232,732 Class B shares indirectly. The reporting person disclaims beneficial ownership beyond its pecuniary interest.
Yorktown XI Associates LLC reported indirect open-market sales of Ramaco Resources, Inc. Class B Common Stock. On March 27, 2026, an affiliated entity sold 8,168 shares at a weighted average price of $10.9327 per share. On March 30, 2026, it sold 2,297 shares at a weighted average price of $10.3381 per share. After these transactions, the affiliated fund held 1,232,732 Class B shares indirectly. The reporting person disclaims beneficial ownership beyond its pecuniary interest.
Yorktown Energy Partners XI, L.P., a 10% owner of Ramaco Resources, Inc., reported open-market sales of a total of 10,465 shares of Class B Common Stock. The firm sold 8,168 shares on March 27, 2026 at a weighted average price of $10.9327 per share and 2,297 shares on March 30, 2026 at a weighted average price of $10.3381 per share. These trades were executed across multiple prices within disclosed ranges. After the transactions, Yorktown Energy Partners XI directly owned 1,232,732 Class B shares.
Yorktown Energy Partners XI, L.P., a 10% owner of Ramaco Resources, Inc., reported open-market sales of a total of 10,465 shares of Class B Common Stock. The firm sold 8,168 shares on March 27, 2026 at a weighted average price of $10.9327 per share and 2,297 shares on March 30, 2026 at a weighted average price of $10.3381 per share. These trades were executed across multiple prices within disclosed ranges. After the transactions, Yorktown Energy Partners XI directly owned 1,232,732 Class B shares.
Yorktown Energy Partners IX L.P., an entity associated with Yorktown IX Associates LLC, sold a total of 10,325 shares of Ramaco Resources Class B common stock in late March 2026. The sales were open-market transactions at weighted-average prices of $10.9327 and $10.3381 per share.
After these sales, 1,216,317 Class B shares remained indirectly owned. The reporting person disclaims beneficial ownership beyond its pecuniary interest in these securities.
Yorktown Energy Partners IX L.P., an entity associated with Yorktown IX Associates LLC, sold a total of 10,325 shares of Ramaco Resources Class B common stock in late March 2026. The sales were open-market transactions at weighted-average prices of $10.9327 and $10.3381 per share.
After these sales, 1,216,317 Class B shares remained indirectly owned. The reporting person disclaims beneficial ownership beyond its pecuniary interest in these securities.
Yorktown Energy Partners IX, L.P., a ten percent owner of Ramaco Resources, Inc., reported open-market sales of Class B common stock. It sold 8,059 shares on March 27, 2026 at a weighted-average price of $10.9327 per share, in trades ranging from $10.55 to $11.285.
On March 30, 2026, it sold an additional 2,266 shares at a weighted-average price of $10.3381, with individual trades between $10.06 and $10.6975. After these sales, Yorktown Energy Partners IX, L.P. directly holds 1,216,317 shares of Class B common stock.
Yorktown Energy Partners IX, L.P., a ten percent owner of Ramaco Resources, Inc., reported open-market sales of Class B common stock. It sold 8,059 shares on March 27, 2026 at a weighted-average price of $10.9327 per share, in trades ranging from $10.55 to $11.285.
On March 30, 2026, it sold an additional 2,266 shares at a weighted-average price of $10.3381, with individual trades between $10.06 and $10.6975. After these sales, Yorktown Energy Partners IX, L.P. directly holds 1,216,317 shares of Class B common stock.