Ramaco Announces $100 Million Stock Repurchase Plan

Rhea-AI Summary

Ramaco Resources (NASDAQ: METC) announced a Board-authorized share repurchase program of up to $100 million of its Class A common stock to be executed over 24 months, beginning Dec. 23, 2025. The company may repurchase shares in open-market transactions, block trades, privately negotiated transactions, or other lawful means and may adopt written trading plans under the Securities Exchange Act.

The company said the program is opportunistic, will preserve liquidity to fund its capital development program, and may be suspended, modified, extended, or discontinued at the Board's discretion. Previously completed capital raises totaled $600+ million (before fees) in the second half of 2025.

Positive

• $100 million authorized repurchase over 24 months
• Company stated repurchases funded while preserving liquidity for capital development
• Board tied repurchase to prior $600+ million capital raises in H2 2025

Negative

• Repurchases not obligatory and may be suspended or discontinued by the Board
• Repurchases subject to compliance with debt and other agreements
• Shares bought back will be available for future issuance, allowing potential dilution

Key Figures

Share repurchase authorization $100 million Authorized buyback of Class A common stock over 24 months

Capital raises $600+ million Capital raises closed in second half of 2025 before fees

Repurchase period 24 months Planned duration of authorized share repurchase program

Q4 2025 stock dividend $0.1780 per share Class B common stock dividend declared for Q4 fiscal 2025

Convertible notes offering $300,000,000 Proposed aggregate principal of convertible senior notes due 2031

Underwriters' option $45,000,000 Additional principal amount of convertible notes underwriters may purchase

Price vs 52-week high -73.08% Current price relative to 52-week high of 57.8

Price vs 52-week low 149.26% Current price relative to 52-week low of 6.2424

Market Reality Check

$18.00 Last Close

Volume Volume 2,724,195 is at 0.98x the 20-day average of 2,773,681, indicating typical activity into this buyback news. normal

Technical Shares trade below the 200-day MA, with price at 15.56 versus MA200 of 18.99 and 73.08% below the 52-week high.

Peers on Argus

METC gained 6.79%, while closely related METCB rose 3.21%. Other coking coal peers were mixed: AMR (-2.64%), SXC (-0.69%), HCC (-0.74%), and AREC up 6.11%, suggesting the move is more stock-specific than a clear sector rotation.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 01	Media appearance	Positive	-4.7%	CEO TV interview to discuss Brook Mine and critical minerals strategy.
Nov 14	Dividend announcement	Positive	-1.6%	Declared Q4 fiscal 2025 stock dividend for Class B common shares.
Nov 13	Project FAQ update	Positive	-9.9%	Posted Brook Mine FAQ detailing project, liquidity and development plans.
Nov 04	Convertible note offering	Negative	-4.6%	Announced proposed <b>$300M</b> convertible notes and related borrowed share offering.
Nov 04	Convertible note offering	Negative	-4.6%	Detailed terms for <b>$300M</b> convertible notes due 2031 with option for more.

Pattern Detected

Several recent shareholder-friendly or project-update announcements were followed by negative price reactions, while the November convertible note offerings aligned with a downward move.

Recent Company History

Over the last few months, Ramaco highlighted its Brook Mine rare earths project, including a CEO media appearance on Dec 1, 2025 and a detailed FAQ posted on Nov 13, 2025, yet shares fell after both. A $0.1780 Class B stock dividend announced on Nov 14, 2025 also saw a modest decline. On Nov 4, 2025, the company announced proposed $300,000,000 convertible senior notes (plus $45,000,000 option) and related hedging transactions, which coincided with a negative reaction. Today’s $100 million repurchase plan adds another capital allocation action to this sequence.

Market Pulse Summary

The stock moved +8.6% in the session following this news. A strong positive reaction aligns with the shareholder-friendly nature of a $100 million buyback authorization, especially with METC trading about 73.08% below its 52-week high and below the 18.99 200-day MA. Earlier dividends and Brook Mine updates were followed by declines, so a sustained move has not been guaranteed historically. Recent convertible note offerings totaling up to $345,000,000 showed aligned downside, underscoring that capital structure moves can drive volatility.

Key Terms

share repurchase program financial

"authorized the initiation of a share repurchase program of up to $100 million"

A share repurchase program is when a company buys back its own shares from the marketplace. This reduces the total number of shares available, which can increase the value of each remaining share and signal confidence in the company's prospects. For investors, it often suggests that the company believes its stock is undervalued or that it has extra cash to return to shareholders.

class a common stock financial

"outstanding shares of the Company's Class A common stock over a period"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

block trades financial

"in open market transactions, through block trades, in privately negotiated"

A block trade is a single, large buy or sell of shares or bonds arranged privately between big traders rather than piecemeal on the public market. Think of it like buying a whole shipment at once instead of many small shopping trips; it lets large holders move big positions with less immediate disruption but can signal strong buying or selling pressure and cause price swings once the trade is known, so investors watch block trades for clues about market sentiment and liquidity.

AI-generated analysis. Not financial advice.

LEXINGTON, Ky., Dec. 23, 2025 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC, METCB, "Ramaco" or the "Company") today announced that the Board of Directors has authorized the initiation of a share repurchase program of up to $100 million of the currently outstanding shares of the Company's Class A common stock over a period of 24 months. The Board also authorized the Company to enter into written trading plans under the Securities Exchange Act of 1934, as amended, to facilitate the repurchase of its common stock pursuant to its share repurchase program.

"We're excited to introduce a share repurchase program as another means of returning capital to our shareholders, which we are introducing as a matter of good corporate governance," said Randall Atkins, Chairman and CEO of Ramaco. "With the closing of Ramaco's previously-announced $600 plus million (before fees) in capital raises in the second half of 2025, we are well-positioned to pursue opportunities to unlock value and maximize shareholder returns. The share repurchase program highlights our confidence in our continued operational performance as well as financial strength."

The shares may be repurchased by the Company from time to time in open market transactions, through block trades, in privately negotiated transactions or by other means in accordance with federal securities laws. The timing, as well as the number and value of shares repurchased under the program, will be determined by the Company at its discretion and will depend on a variety of factors, including management's assessment of the intrinsic value of the Company's common stock, the market price of the Company's common stock, general market and economic conditions, available liquidity, compliance with the Company's debt and other agreements, applicable legal requirements, and other considerations.

The Company intends to purchase shares under the repurchase program opportunistically with available funds while maintaining sufficient liquidity to fund its capital development program. The repurchase program does not obligate Ramaco to purchase stock, and may be suspended from time to time, modified, extended or discontinued by the Board of Directors at any time. Any stock purchased as part of this program will no longer be outstanding and will be available for future issuances by Ramaco.

ABOUT RAMACO RESOURCES

Ramaco Resources, Inc. is a dual platform critical mineral company that is both an operator and developer of high-quality, low-cost metallurgical coal in southern West Virginia and southwestern Virginia, and a developing producer of coal, rare earth and critical minerals in Wyoming. The Company's executive offices are in Lexington, Kentucky, with operational offices in Charleston, West Virginia and Sheridan, Wyoming. The Company currently has four active metallurgical coal mining complexes in Central Appalachia and one coal mine and rare earth development near Sheridan, Wyoming in the initial stages of production.

In 2023, the Company announced that a major deposit of primary magnetic rare earths and critical minerals was discovered at its mine near Sheridan, Wyoming. Contiguous to the Wyoming mine, the Company currently operates a carbon research and pilot facility related to the development and production of advanced carbon products and materials derived from coal. In connection with these activities, it holds a body of roughly 76 intellectual property patents, pending applications, exclusive licensing agreements and various trademarks.

News and additional information about Ramaco Resources, including filings with the Securities and Exchange Commission, are available at https://www.ramacoresources.com. For more information, contact investor relations at (859) 244-7455.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Ramaco Resources' expectations or beliefs concerning guidance, future events, anticipated revenue, future demand and production levels, macroeconomic trends, the development of ongoing projects, costs and expectations regarding operating results, and it is possible that the results described in this news release will not be achieved.

These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Ramaco Resources' control, which could cause actual results to differ materially from the results discussed in the forward-looking statements.

These factors include, without limitation, unexpected delays in our current mine development activities, the ability to successfully increase production at our existing met coal complexes in accordance with the Company's growth initiatives, failure of our sales commitment counterparties to perform, increased government regulation of coal in the United States or internationally, the impact of tariffs imposed by the United States and foreign governments, the further decline of demand for coal in export markets and underperformance of the railroads, the Company's ability to successfully develop the Brook Mine rare earth elements and critical minerals project, including whether the Company's exploration target and estimates for such mine are realized, the timing of the initial production of rare earth concentrates, the development of a pilot and ultimately a full scale commercial processing facility. Mineral resources are not mineral reserves and do not meet the threshold for reserve modifying factors, such as estimated economic viability, that would allow for conversion to mineral reserves. There is no certainty that any part of the estimated mineral resources at Brook Mine will be converted into mineral reserves in the future. Rare earth and critical minerals is a new initiative for us and, as such, has required and will continue to require us to make significant investments to build out our rare earth capabilities.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Ramaco Resources does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Ramaco Resources to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements found in Ramaco Resources' filings with the Securities and Exchange Commission ("SEC"), including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The risk factors and other factors noted in Ramaco Resources' SEC filings could cause its actual results to differ materially from those contained in any forward-looking statement.

POINT OF CONTACT

INVESTOR RELATIONS: info@ramacometc.com or 859-244-7455

View original content:https://www.prnewswire.com/news-releases/ramaco-announces-100-million-stock-repurchase-plan-302648951.html

SOURCE Ramaco Resources, Inc.

FAQ

What did Ramaco (METC) authorize in its Dec. 23, 2025 repurchase plan?

The Board authorized up to $100 million in repurchases of Class A common stock over 24 months.

How will Ramaco (METC) fund the $100 million stock repurchase?

The company said it intends to buy shares opportunistically with available funds while maintaining liquidity for its capital development program.

Can Ramaco (METC) stop the share buyback program after authorization?

Yes. The program may be suspended, modified, extended, or discontinued by the Board at any time.

Are repurchased Ramaco (METC) shares retired or available for reissuance?

Any shares purchased will no longer be outstanding and will be available for future issuances by the company.

Does the repurchase plan require the company to buy a specific number of shares?

No. The timing, number, and value of repurchases will be determined by the company at its discretion.