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Ramaco Resources Inc
NASDAQ:METC

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Ramaco Resources Inc
NASDAQ:METC
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Price: 14.14 USD -6.3% Market Closed
Market Cap: $931.8m

Ramaco Resources Inc
Investor Relations

Ramaco Resources, Inc. engages in the operation and development of coal mining properties. The company is headquartered in Lexington, Kentucky and currently employs 454 full-time employees. The company went IPO on 2017-02-03. The firm operates and develops metallurgical coal in southern West Virginia, southwestern Virginia, and southwestern Pennsylvania. Its development portfolio primarily includes four properties: Elk Creek, Berwind, RAM Mine and Knox Creek. The Elk Creek property consists of approximately 20,166 acres of controlled mineral rights and contains 25 seams that it has targeted for production. The company operates three deep mines and a surface mine at its Elk Creek mining complex. The Berwind property consists of approximately 31,200 acres of controlled mineral rights and is located on the border of West Virginia and Virginia. The Knox Creek property consists of approximately 62,100 acres of controlled mineral rights. Its RAM Mine property is located in southwestern Pennsylvania, consists of approximately 1,570 acres of controlled mineral rights.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Feb 26, 2026
AI Summary
Q4 2025

Best Coal Quarter: Ramaco delivered its strongest met coal operational quarter in years, with industry-leading cost control and margins despite lower market prices.

Cost Leadership: Q4 cash cost per ton sold was $92, the lowest since Q4 2021, and cash margins were $24 per ton, outperforming Central Appalachian peers.

2026 Guidance: The company expects to grow total sales for the sixth straight year and lower overall cash costs for the third year in a row. Full-year 2026 production and sales are both guided higher than 2025.

Critical Minerals Breakthrough: Ramaco announced a proprietary carbochlorination process for rare earth extraction at Brook Mine, expected to cut capital and operating costs while shifting the product mix toward high-purity gallium and alumina, both high-value materials.

Record Liquidity: Liquidity ended 2025 at $521 million, up more than 275% year-over-year, providing financial flexibility for both met coal and critical minerals expansion.

Growth Projects Accelerated: Low-vol growth projects at Berwind and Maben have been pulled forward, adding up to 200,000 incremental tons in 2026 and 0.5 million tons in 2027.

Sales Booked: About 80% of 2026 production is already committed, with 3.1 million tons secured (1.1 million domestic at $142/ton and 2 million export at index-linked pricing).

Pilot Delays: The flowsheet pivot for critical minerals will delay pilot operations and commercialization by several quarters, now targeting a 2027 pilot start.

Key Financials
Liquidity
$521 million
Net Debt
$11 million
Cash Cost Per Ton Sold
$92
Cash Margin Per Ton
$24
Q4 Production
892,000 tons
Q4 Adjusted EBITDA
$9 million
Class A EPS
($0.22) loss
2026 Production Guidance
3.7–4.1 million tons
2026 Sales Guidance
4.1–4.5 million tons
CapEx Guidance
$85–90 million
Growth CapEx (Berwind and Maben)
$20 million
Critical Minerals CapEx
$20 million
2026 Sales Booked
3.1 million tons
Domestic Sales Price (2026 committed)
$142 per ton
Export Sales (2026 committed)
2 million tons at index-linked pricing
Q1 2026 Shipment Guidance
800,000–950,000 tons
Earnings Call Recording
Other Earnings Calls

Management

Mr. Randall W. Atkins J.D.
Founder, Chairman & CEO
No Bio Available
Mr. Jeremy Ryan Sussman
Executive VP & CFO
No Bio Available
Mr. Jason T. Fannin
Executive VP, Chief Commercial Officer & Chief Marketing Officer
No Bio Available
Mr. Christopher L. Blanchard
Executive Vice President of Mine Planning and Development
No Bio Available
Mr. John C. Marcum
Executive VP of Production & Controller
No Bio Available
Dr. Vishnu Sundaresan
Senior Vice President of Technology
No Bio Available
Mr. James Scott Kreutzer
Senior VP & Chief Administrative Officer
No Bio Available
Mr. Evan H. Jenkins
General Counsel
No Bio Available
Mr. Paul Horn
Executive VP of Mine Operations
No Bio Available
Ms. Sabrina Duba
Senior Vice President of Operations
No Bio Available

Contacts

Address
KENTUCKY
Lexington
250 West Main Street, Suite 1800
Contacts
+18592447455.0
ramacoresources.com
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