Ramaco Res Inc Stock Price, News & Analysis

Ramaco Resources, Inc. (NASDAQ: METC) is set to release its first quarter 2023 financial results on May 3, 2023, after market close. The earnings report will be accessible on the Company's investor relations website. An investor conference call will be held on May 4, 2023, at 9:00 a.m. Eastern Time, featuring presentations from the Chairman, CEO, COO, and CFO. The call can be accessed via domestic and international numbers with a corresponding Conference ID. Ramaco Resources operates in the metallurgical coal sector, focusing on high-quality, low-cost production in West Virginia, Virginia, and Pennsylvania, with additional research initiatives in Wyoming. The company is also known for holding approximately 50 intellectual property patents related to advanced carbon products derived from coal.

Ramaco Resources, Inc. (NASDAQ: METC) declared a quarterly cash dividend of $0.1250 per share, payable on June 15, 2023, to shareholders on record by June 1, 2023. This announcement highlights the company's commitment to returning value to its shareholders while reinforcing its operational strength in producing high-quality, low-cost metallurgical coal in central and southern West Virginia, southwestern Virginia, and southwestern Pennsylvania. Ramaco continues to demonstrate confidence in its financial position by maintaining regular dividend payments.

Ramaco Carbon, in collaboration with Oak Ridge National Laboratory, is launching a two-year project to develop large-scale methods for producing graphite from coal, addressing the U.S.'s need for domestically sourced graphite for electric vehicle (EV) batteries. This initiative stems from a prior partnership focused on alternative coal uses and aims to make the U.S. less reliant on foreign graphite supply. The joint effort will utilize coal from Ramaco's parent company, enhancing potential cost-efficiency compared to petroleum-derived graphite. Successful commercialization could significantly impact the EV industry's supply chain and energy transition.

Ramaco Resources reported Q4 2022 financial results, revealing a net income of $14.4 million, down from $18.6 million a year earlier. The diluted EPS was $0.32 compared to $0.42 in Q4 2021. Full-year net income reached $116 million, reflecting a remarkable 192% increase from 2021. However, Q4 results were impacted by severe weather and transportation issues, causing delays in shipping 150,000 tons and a significant drop in API2 index pricing. Despite challenges, the company anticipates production growth in 2023, expecting an increase to over 4 million tons per year, alongside a decrease in cash mine costs and capital expenditures.

Ramaco Resources, Inc. (NASDAQ: METC) is set to report its fourth quarter and full year 2022 financial results on March 8, 2023, after market close. An investor conference call will follow on March 9, 2023, at 9:00 AM ET, featuring CEO Randall W. Atkins and other executives discussing the results. The call can be accessed via phone or webcast. Ramaco operates high-quality, low-cost metallurgical coal mines in West Virginia, Virginia, and Pennsylvania and holds numerous intellectual property assets related to advanced carbon products.

Ramaco Resources (NASDAQ: METC) announced on March 1, 2023, the promotion of four executives to senior roles. John Marcum becomes Executive Vice President and continues as Chief Accounting Officer. Sabrina Duba is now Senior Vice President - Operations, Toby Edwards is Senior Vice President - Mining Operations, and Scott Spears is Senior Vice President - Finance. CEO Randall W. Atkins acknowledged their contributions to the company's success. The company operates in Central Appalachia, with three active mining complexes and a research facility in Wyoming, focusing on advanced carbon products and holding numerous intellectual property assets.

Ramaco Resources (NASDAQ: METC) has successfully increased its revolving credit facility from $40 million to $175 million. The new facility includes a $125 million revolving commitment and a $50 million accordion feature. The maturity date has been extended to 2026. This financing aims to enhance liquidity for managing working capital and refining capital structure by retiring higher interest debt from previous acquisitions. Chairman Randall Atkins highlighted the importance of this facility in supporting the company's growth, especially in export markets and initiatives related to rare earth development and advanced carbon products.

Ramaco Resources, Inc. (NASDAQ: METC) has announced the establishment of the Ramaco Foundation to support coal-producing communities in West Virginia, Virginia, and Wyoming. The Foundation will provide grants, starting with $100,000 for initiatives against childhood hunger in Wyoming and for education in West Virginia. Key donations include $50,000 each to The Food Group Wyoming and Jobs for West Virginia's Graduates. The Foundation aims to strengthen local economies through meaningful partnerships with nonprofit organizations that have proven success records.