Ramaco Resources, Inc. (NASDAQ: METC) reported fourth‑quarter 2025 revenue of $128.0 million, a 25.1% decline from the $169.5 million earned in the same period a year earlier. Diluted earnings per share were $(0.26), missing the consensus estimate of $(0.24) by $0.02. The revenue shortfall reflects a sharp drop in metallurgical coal pricing and volumes, with the company’s cash costs falling to $92 per ton but cash margins compressing to $24 per ton from $33 per ton in Q4 2024.
The company’s full‑year 2025 results show a net loss of $51.4 million and a diluted EPS of $(0.99). Despite the losses, Ramaco’s liquidity remains robust, with $521 million in cash and cash equivalents at year‑end, providing a cushion for ongoing investments and operational needs.
Ramaco’s Brook Mine rare‑earth project remains in the investment phase and has not yet produced commercial‑scale output. Progress includes the commencement of mining operations earlier in 2026 and the construction of a pilot plant, as well as a memorandum of understanding with Mulberry Industries to supply rare‑earth feedstock for advanced magnet manufacturing.
For 2026, management guided annual sales volumes of 4.1 to 4.5 million tons, with production expected between 3.7 and 4.1 million tons. Cash costs are projected at $95 to $100 per ton. The company expressed confidence that, if benchmark price indices hold or improve, earnings growth in 2026 will be meaningful compared to 2025.
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