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Ramaco Resources
(NASDAQ:METC)
Ramaco Resources (METC) vs. SPDR S&P 500 ETF (SPY)
Ramaco Resources Business Overview & Revenue Model
Ramaco Resources Earnings Call Summary
Ramaco Resources Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 625.92M | 666.29M | 693.52M | 565.69M | 283.39M | 168.91M |
| Gross Profit | 89.35M | 133.00M | 199.73M | 232.73M | 87.98M | 23.41M |
| EBITDA | 54.48M | 86.66M | 169.22M | 195.33M | 73.78M | 14.31M |
| Net Income | -19.81M | 11.19M | 82.31M | 116.04M | 39.76M | -4.91M |
Balance Sheet | ||||||
| Total Assets | 674.65M | 674.69M | 665.84M | 596.34M | 329.03M | 228.62M |
| Cash, Cash Equivalents and Short-Term Investments | 28.13M | 33.01M | 41.96M | 35.61M | 21.89M | 5.30M |
| Total Debt | 109.33M | 102.29M | 100.55M | 138.11M | 51.44M | 17.45M |
| Total Liabilities | 327.21M | 311.88M | 296.23M | 287.14M | 117.96M | 59.53M |
| Stockholders Equity | 347.44M | 362.81M | 369.61M | 309.20M | 211.07M | 169.09M |
Cash Flow | ||||||
| Free Cash Flow | 12.10M | 57.43M | 78.13M | 64.86M | 23.87M | -11.44M |
| Operating Cash Flow | 74.84M | 112.67M | 161.04M | 187.87M | 53.34M | 13.31M |
| Investing Cash Flow | -67.21M | -70.83M | -72.21M | -145.71M | -59.61M | -24.75M |
| Financing Cash Flow | -7.08M | -50.79M | -82.52M | -28.50M | 22.37M | 11.29M |
Ramaco Resources Technical Analysis
Ramaco Resources Risk Analysis
Ramaco Resources Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | 3.12B | 13.09 | 13.16% | 11.10% | -8.59% | -55.01% | |
68 Neutral | 687.48M | 9.16 | 10.86% | 5.91% | -7.70% | 17.73% | |
67 Neutral | $1.86B | 43.10 | -5.55% | 1.50% | -12.79% | -134.14% | |
67 Neutral | 3.14B | 23.30 | 3.78% | 1.16% | -5.83% | -73.88% | |
64 Neutral | 3.28B | 80.64 | 1.94% | 0.51% | -27.62% | -90.48% | |
57 Neutral | 2.16B | -58.05 | -2.31% | ― | -29.63% | -108.26% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
Ramaco Resources Corporate Events
On September 8, 2025, Ramaco Resources announced the dividend ratio for its Class B common stock dividend for the third quarter of 2025. Shareholders of record on September 5, 2025, will receive 0.011988 shares of Class B common stock for each share held, with cash payments for fractional shares based on the closing price on the record date. This announcement reflects the company’s ongoing commitment to providing value to its shareholders through stock dividends.
On September 4, 2025, Ramaco Resources announced that it has retained Hatch Ltd. to lead the next phase of the Brook Mine rare earth elements and critical minerals project. Hatch will develop the project’s Pre-Feasibility Study, which includes test-work support, pilot plant design, and process flowsheet optimization. This decision is part of Ramaco’s strategy to advance the Brook Mine project and capitalize on growing interest from stakeholders. The project has been validated by geological assessments and a preliminary economic assessment, paving the way for the development of the first new rare earth mine in the U.S. since 1952.
On September 3, 2025, Ramaco Resources announced the passing of Patrick C. Graney, III, a long-time board member who served since December 2016. Graney was instrumental in the company’s growth and community initiatives, including expanding the workforce to over 1,000 employees and championing educational and regional revitalization efforts. In his honor, the Ramaco Foundation pledged $100,000 to the University of Charleston’s Patrick C. Graney III Endowment Fund, reflecting his commitment to education and community investment.
On August 22, 2025, Ramaco Resources announced that its board of directors approved a stock dividend of $0.1918 per share for its Class B common stock, payable on September 19, 2025, to shareholders of record as of September 5, 2025. This dividend will be paid in Class B common stock, with the number of shares determined by the closing transaction price on the record date. Instead of issuing fractional shares, the company will pay cash for the fractional value based on the closing price on the record date.
On August 7, 2025, Ramaco Resources, Inc. announced the closing of its underwritten public offering, raising approximately $200 million through the sale of 10,666,667 shares of Class A common stock at $18.75 per share. The company intends to use the net proceeds to accelerate the development of its rare earth elements and critical minerals project, pursue strategic growth opportunities, and for general corporate purposes. Yorktown Energy Partners, the selling stockholders, granted underwriters a 30-day option to purchase additional shares, which was fully exercised, although Ramaco will not receive proceeds from this sale.
On August 5, 2025, Ramaco Resources, Inc. entered into an underwriting agreement for a public offering of 10,666,667 shares of its common stock, priced at $18.75 per share, with Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC as lead underwriters. The net proceeds of approximately $188.1 million are intended to fund the development of its rare earth elements and critical minerals project, strategic growth opportunities, and general corporate purposes. Concurrently, the company amended its Credit Agreement to remove negative covenants related to equity securities issuance, enhancing its financial flexibility.
On July 31, 2025, Ramaco Resources completed a public offering of $57 million in 8.250% Senior Notes due 2030, with an additional $8 million issued following the exercise of an over-allotment option by underwriters on August 1, 2025. The total gross proceeds from the offering amounted to approximately $65 million. The company plans to use a portion of the net proceeds to redeem its outstanding 9.00% Senior Notes due 2026 and allocate the remaining funds for general corporate purposes, including rare earth development and capital expenditures. This financial maneuver aims to improve Ramaco’s debt profile and support its strategic growth initiatives.
In the second quarter of 2025, Ramaco Resources reported a net loss of $14.0 million and an adjusted EBITDA of $9.0 million, with production reaching a record 1.0 million tons. Despite weak market conditions, the company is optimizing production and sales to enhance margins and expects full-year production and sales to be at the low end of their guidance range. Additionally, Ramaco has accelerated the commercial timeline for its Brook Mine rare earth and critical minerals operation, with initial commercial production now anticipated in 2027. The company hosted a ribbon-cutting ceremony in July 2025 to mark the opening of the Brook Mine, the first new rare earth mine in the U.S. in over 70 years, highlighting its transition to a dual-platform company.
On July 31, 2025, Ramaco Resources completed a public offering of $57 million in senior unsecured notes due 2030, with an interest rate of 8.250% per annum. The proceeds will be used to redeem existing 9.00% Senior Notes due 2026 and for general corporate purposes, including rare earth development and capital expenditures. The notes are rated ‘BBB-‘ and are expected to be listed on the Nasdaq Global Select Market. Lucid Capital Markets, LLC acted as the lead bookrunner for the offering.
On July 29, 2025, Ramaco Resources announced it received a second five-year mine permit for its Brook Mine in Wyoming, allowing continued coal mining and reclamation over 4,548.8 acres. This approval highlights Ramaco’s commitment to responsible resource development and provides confidence in its operational milestones. Earlier, on July 11, the Brook Mine Carbon Ore Rare Earth project was commemorated as the first new rare earth mine in the U.S. in over 70 years, marking a strategic milestone in reducing foreign reliance on critical minerals. Additionally, a $6.1 million grant was approved to support a pilot-scale processing facility at the Brook Mine, with construction planned for later this year.
On July 25, 2025, Ramaco Resources, Inc. announced the redemption of all its outstanding 9.00% Senior Notes due 2026, scheduled for August 4, 2025. The redemption involves $34.5 million in aggregate principal amount, and the redemption price will be equal to 100% of the principal amount plus accrued and unpaid interest up to the Redemption Date.
On July 23, 2025, Ramaco Resources announced a public offering of 8.250% Senior Notes due 2030, priced at $25.00 per note, to raise approximately $55 million after expenses. The proceeds will be used to redeem the company’s outstanding 9.00% Senior Notes due 2026 and for general corporate purposes, including funding rare earth development and future investments. The offering, expected to close on July 31, 2025, is part of a broader strategy to manage debt and support growth initiatives. Additionally, the company entered into a Third Amendment Agreement to facilitate the offering, allowing for increased indebtedness and adjusting permitted unsecured debt levels.
Ramaco Resources has secured a $6.1 million grant from the Wyoming Energy Authority to support its Brook Mine pilot plant for critical mineral extraction, with the project officially commencing in June 2025. Despite a softening in global metallurgical coal markets due to economic constraints and increased Chinese steel exports, Ramaco continues to fulfill its performance obligations and is negotiating amendments to its credit agreement to facilitate a public offering of senior notes.
On July 10, 2025, Ramaco Resources announced the release of a summary of the full Preliminary Economic Assessment (PEA) for its Brook Mine, prepared by Fluor Corporation. The PEA confirms the commercial and technological feasibility of the Brook Mine, marking a significant milestone for Ramaco and its stakeholders, as the company prepares for the ribbon cutting of the Brook Mine. This development is expected to enhance Ramaco’s industry positioning and operational capabilities.
On July 8, 2025, Ramaco Resources announced that it will receive the Preliminary Economic Assessment of its Brook Mine in Wyoming from Fluor Corporation on July 9. The assessment will be reviewed by the Board of Directors, and a summary will be released on the company’s website. This update is significant for Ramaco’s operations as it could impact its strategic positioning in the coal and rare earth minerals market, potentially affecting stakeholders and future business directions.
On July 1, 2025, Ramaco Resources announced that Fluor Corporation will deliver a full Preliminary Economic Assessment (PEA) for the Brook Mine by July 8, 2025. The PEA confirms the commercial and technical feasibility of the project, highlighting a net present value of $1.197 billion at an 8% discount rate and an internal rate of return of 38%. The Brook Mine project is expected to produce 1,242 short tons of rare earth oxides annually by 2029, generating $378 million in revenue and $143 million in adjusted EBITDA. The unique geological profile of the Brook Mine allows for a more efficient and cost-effective extraction process compared to traditional rare earth element deposits, positioning Ramaco Resources favorably in the industry.
On June 26, 2025, Ramaco Resources, Inc. conducted its Annual Meeting of Shareholders, where approximately 86.6% of the outstanding shares were represented. During the meeting, all director nominees were elected, and the appointment of Grant Thornton LLP as the independent registered public accounting firm for 2025 was ratified. Additionally, the compensation for the company’s named executive officers was approved on an advisory basis. These outcomes reflect strong shareholder support for the company’s current management and strategic direction.