Ramaco Resources’ shares rose 8.8% after earnings, reflecting investor approval of ongoing cost discipline, share repurchase activity, and early signs of supply tightening in coal markets despite continued top-line challenges.

• The company repurchased approximately 2.6 million shares year-to-date at an average price of $14.50, representing about 5% of shares outstanding, signaling confidence in intrinsic value relative to market valuation.
• Cash costs remained below $100 per ton for the third consecutive quarter, achieved amid rising diesel prices that added roughly $4 per ton in cost compared to early 2026 levels.
• Coal pricing remains weak, particularly for high-vol products, but emerging production cutbacks and bankruptcies suggest a potential supply-demand inflection going forward.
• Growth initiatives focus on low-vol coal, with restarted and expanded mining sections expected to add up to 0.5 million tons in 2027, supported by infrastructure investments like a new rail loadout to reduce trucking costs by about $20 per ton.
• Progress continues on rare earth and critical mineral projects, with key technical studies expected in the second half of the year and ongoing discussions with potential offtake and financing partners.