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LEXINGTON, Ky. - Ramaco Resources, Inc. (NASDAQ: METC), a metallurgical coal operator with a market capitalization of $506 million, announced a reshuffling of its senior management and Board of Directors. E. Forrest Jones, Jr. will transition from his role as a board member to become the company’s General Counsel starting May 1, 2025. Concurrently, Evan H. Jenkins has been elected to the Board and appointed as Vice-Chairman. According to InvestingPro data, the company maintains a strong financial health score and analysts expect net income growth this year.
Jones, who has been a member of the Board since January 2021, resigned from his director position on March 14, 2025, to prepare for his new responsibilities. He brings over four decades of legal expertise in the coal industry to his role as General Counsel. Jones’ contributions to the company have been acknowledged by the Board with an honorary Director Emeritus title. The company, which generated revenue of $666 million in the last twelve months, offers shareholders a notable 5.95% dividend yield.
Jenkins, who joined Ramaco in February 2024 as General Counsel and Secretary, will step down from the General Counsel role once Jones assumes the position but will continue as Secretary. His experience includes more than twenty years as a state and federal legislator and service as Chief Justice of the West Virginia Supreme Court, which will inform his new duties on the Board.
The company emphasized that the total number of Board members remains the same, with five independent directors and four non-independent directors. These changes are part of Ramaco’s ongoing efforts to leverage experienced leadership to guide its expansion and ensure high safety and well-being standards for its employees.
Ramaco Resources operates in West Virginia, Virginia, and Wyoming, focusing on metallurgical coal and the development of coal, rare earth, and critical minerals. The company also engages in carbon research and holds a portfolio of intellectual property related to advanced carbon materials. While the stock has experienced a 20.4% decline over the past week, InvestingPro analysis indicates the stock is currently undervalued, with analyst price targets suggesting significant upside potential. For detailed insights and additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro, covering this and 1,400+ other US equities.
This announcement is based on a press release statement from Ramaco Resources, Inc. and contains no endorsements or speculative content.
In other recent news, Ramaco Resources reported strong fourth-quarter results, with adjusted earnings per share reaching $0.06, a turnaround from a loss of $0.03 in the previous quarter. Revenue for the quarter was $170.9 million, marking a 2% sequential increase. The company achieved record quarterly sales volume of over 1.1 million tons, while also reducing cash costs to $96 per ton sold, down from $102 in the prior quarter. Ramaco’s adjusted EBITDA rose to $29.2 million, surpassing analysts’ high estimate of $24 million, due to improved cash costs per ton. Looking ahead, Ramaco reiterated its production guidance for 2025, expecting sales of 4.4-4.8 million tons and projecting a significant rise in Q2 shipments. Benchmark analyst Nathan Martin maintained a Buy rating on Ramaco Resources but lowered the stock target to $18.00 from $20.00. The company is also analyzing a rare earth and mineral deposit at its Brook Mine, with technical and economic results expected by the end of April. Additionally, Ramaco is considering the construction of a rail loadout facility to further reduce costs.
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