Ramaco Resources (METC)
Market Price (5/4/2026): $14.81 | Market Cap: $971.8 MilSector: Materials | Industry: Steel
Ramaco Resources (METC)
Market Price (5/4/2026): $14.81Market Cap: $971.8 MilSector: MaterialsIndustry: Steel
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -48% Megatrend and thematic driversMegatrends include Industrial Foundation. Themes include Metallurgical Coal Production, Steel Industry Raw Materials, and Infrastructure & Construction Materials Supply. | Weak multi-year price returns2Y Excs Rtn is -45%, 3Y Excs Rtn is -92% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 16% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -56 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -10% Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 493x Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -19%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.3%, Rev Chg QQuarterly Revenue Change % is -25% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -15% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.7% High stock price volatilityVol 12M is 101% Key risksMETC key risks include [1] substantial execution risk in its strategic but unproven diversification into rare earth elements and [2] financial fragility, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -48% |
| Megatrend and thematic driversMegatrends include Industrial Foundation. Themes include Metallurgical Coal Production, Steel Industry Raw Materials, and Infrastructure & Construction Materials Supply. |
| Weak multi-year price returns2Y Excs Rtn is -45%, 3Y Excs Rtn is -92% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 16% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -56 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -10% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 493x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -19%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.3%, Rev Chg QQuarterly Revenue Change % is -25% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -15% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.7% |
| High stock price volatilityVol 12M is 101% |
| Key risksMETC key risks include [1] substantial execution risk in its strategic but unproven diversification into rare earth elements and [2] financial fragility, Show more. |
Qualitative Assessment
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1. Ramaco Resources reported a significant miss in its fourth-quarter 2025 earnings and revenue. The company announced Q4 2025 results on February 25, 2026, with reported revenue of $128.0 million, a 25.1% year-over-year decline, falling short of the analyst estimate of $146.6 million. Diluted earnings per share (EPS) came in at -$0.26, missing the consensus estimate of -$0.24. This resulted in a net loss of $14.7 million attributable to common shareholders and prompted a negative market reaction, with the stock trading down over 2% in after-hours activity following the announcement.
2. Persistent weakness in the metallurgical coal market contributed to a negative outlook. Despite some regional stability, the overall market for steelmaking coal faced headwinds and mixed trends during the first quarter of 2026. Economic uncertainty and sluggish construction activity led to cautious downstream demand from coke producers and steel mills, impacting market conditions. Large mining groups, such as Glencore, also reported a 22% year-over-year decline in steelmaking coal output in Q1 2026, reflecting broader market challenges.
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Stock Movement Drivers
Fundamental Drivers
The -24.2% change in METC stock from 1/31/2026 to 5/3/2026 was primarily driven by a -12.1% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 5032026 | Change |
|---|---|---|---|
| Stock Price ($) | 19.51 | 14.79 | -24.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 580 | 537 | -7.4% |
| P/S Multiple | 2.1 | 1.8 | -12.1% |
| Shares Outstanding (Mil) | 61 | 66 | -6.9% |
| Cumulative Contribution | -24.2% |
Market Drivers
1/31/2026 to 5/3/2026| Return | Correlation | |
|---|---|---|
| METC | -24.2% | |
| Market (SPY) | 3.6% | 14.4% |
| Sector (XLB) | 4.7% | 22.5% |
Fundamental Drivers
The -51.3% change in METC stock from 10/31/2025 to 5/3/2026 was primarily driven by a -43.5% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 5032026 | Change |
|---|---|---|---|
| Stock Price ($) | 30.36 | 14.79 | -51.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 580 | 537 | -7.4% |
| P/S Multiple | 3.2 | 1.8 | -43.5% |
| Shares Outstanding (Mil) | 61 | 66 | -6.9% |
| Cumulative Contribution | -51.3% |
Market Drivers
10/31/2025 to 5/3/2026| Return | Correlation | |
|---|---|---|
| METC | -51.3% | |
| Market (SPY) | 5.5% | 15.4% |
| Sector (XLB) | 21.0% | 17.8% |
Fundamental Drivers
The 46.7% change in METC stock from 4/30/2025 to 5/3/2026 was primarily driven by a 122.9% change in the company's P/S Multiple.| (LTM values as of) | 4302025 | 5032026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.08 | 14.79 | 46.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 666 | 537 | -19.5% |
| P/S Multiple | 0.8 | 1.8 | 122.9% |
| Shares Outstanding (Mil) | 54 | 66 | -18.3% |
| Cumulative Contribution | 46.7% |
Market Drivers
4/30/2025 to 5/3/2026| Return | Correlation | |
|---|---|---|
| METC | 46.7% | |
| Market (SPY) | 30.4% | 12.7% |
| Sector (XLB) | 24.8% | 9.4% |
Fundamental Drivers
The -14.0% change in METC stock from 4/30/2023 to 5/3/2026 was primarily driven by a -32.8% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 4302023 | 5032026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.20 | 14.79 | -14.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 566 | 537 | -5.1% |
| P/S Multiple | 1.3 | 1.8 | 34.9% |
| Shares Outstanding (Mil) | 44 | 66 | -32.8% |
| Cumulative Contribution | -14.0% |
Market Drivers
4/30/2023 to 5/3/2026| Return | Correlation | |
|---|---|---|
| METC | -14.0% | |
| Market (SPY) | 78.7% | 12.8% |
| Sector (XLB) | 35.2% | 15.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| METC Return | 545% | 0% | -5% | -38% | 78% | -18% | 457% |
| Peers Return | 208% | 97% | 60% | -15% | 20% | -5% | 843% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 5% | 92% |
Monthly Win Rates [3] | |||||||
| METC Win Rate | 58% | 0% | 42% | 25% | 50% | 50% | |
| Peers Win Rate | 62% | 63% | 58% | 44% | 54% | 56% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| METC Max Drawdown | 0% | 0% | -58% | -45% | -34% | -26% | |
| Peers Max Drawdown | -8% | -4% | -16% | -25% | -41% | -16% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: AMR, HCC, BTU, SXC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/1/2026 (YTD)
How Low Can It Go
| Event | METC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -29.7% | -18.8% |
| % Gain to Breakeven | 42.2% | 23.1% |
| Time to Breakeven | 10 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -20.5% | -7.8% |
| % Gain to Breakeven | 25.7% | 8.5% |
| Time to Breakeven | 337 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -16.4% | -9.5% |
| % Gain to Breakeven | 19.6% | 10.5% |
| Time to Breakeven | 31 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.6% | -33.7% |
| % Gain to Breakeven | 44.1% | 50.9% |
| Time to Breakeven | 161 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -45.5% | -19.2% |
| % Gain to Breakeven | 83.3% | 23.7% |
| Time to Breakeven | 959 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -62.2% | -3.7% |
| % Gain to Breakeven | 164.6% | 3.9% |
| Time to Breakeven | 1568 days | 6 days |
In The Past
Ramaco Resources's stock fell -29.7% during the 2025 US Tariff Shock. Such a loss loss requires a 42.2% gain to breakeven.
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Asset Allocation
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| Event | METC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -29.7% | -18.8% |
| % Gain to Breakeven | 42.2% | 23.1% |
| Time to Breakeven | 10 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -20.5% | -7.8% |
| % Gain to Breakeven | 25.7% | 8.5% |
| Time to Breakeven | 337 days | 18 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.6% | -33.7% |
| % Gain to Breakeven | 44.1% | 50.9% |
| Time to Breakeven | 161 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -45.5% | -19.2% |
| % Gain to Breakeven | 83.3% | 23.7% |
| Time to Breakeven | 959 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -62.2% | -3.7% |
| % Gain to Breakeven | 164.6% | 3.9% |
| Time to Breakeven | 1568 days | 6 days |
In The Past
Ramaco Resources's stock fell -29.7% during the 2025 US Tariff Shock. Such a loss loss requires a 42.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Ramaco Resources (METC)
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Here are 1-3 brief analogies to describe Ramaco Resources (METC):
ExxonMobil for metallurgical coal.
Weyerhaeuser for coal mining.
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- Metallurgical Coal: A type of coal primarily used in blast furnace steel production and coke plants.
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Ramaco Resources (METC) sells metallurgical coal primarily to other companies, specifically:
- Blast furnace steel mills in the United States
- Coke plants in the United States
- International metallurgical coal consumers (which would also be steel mills or coke plants in other countries)
Due to the nature of their business and competitive considerations, Ramaco Resources does not publicly disclose the names of its specific customer companies. Therefore, it is not possible to list specific customer company names or their associated public symbols.
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Randall W. Atkins - Founder, Chairman, Chief Executive Officer
Randall Atkins is a founder of Ramaco Resources, establishing the company in 2015, and has served as Chairman of the Board since its inception. He was appointed Chief Executive Officer in 2021. With over 40 years of experience in energy and commodity-related development, investment, and financing, he previously worked at J.P. Morgan & Co. and held various investment banking and private equity positions in the mining and energy sectors. Atkins also chaired and led the predecessor company, Ramaco Coal, LLC, from 2011 to 2022, which was ultimately acquired by Ramaco Resources. Ramaco Coal, LLC was notably owned by Atkins, Michael Bauersachs (former CEO), and private equity backers, Yorktown Energy Partners. In 2011, Atkins purchased an old coal mine in Wyoming for approximately $2 million, which later revealed significant rare earth element deposits.
Jeremy R. Sussman - Executive Vice President & Chief Financial Officer
Jeremy Sussman has served as the Chief Financial Officer of Ramaco Resources since 2019. He possesses an extensive background in the coal industry, having spent many years as a leading mining and mineral industry analyst on Wall Street. Prior to joining Ramaco, Sussman was a Managing Director – Mining and Metals at Clarksons Platou Securities from 2013, and before that, he worked as a research analyst focusing on the coal sector at Citadel and various other sell-side and buy-side hedge funds.
Jason T. Fannin - Executive Vice President & Chief Commercial Officer
Jason Fannin is the Executive Vice President and Chief Commercial Officer, overseeing Ramaco Resources' sales, marketing, and logistics. He brings over 25 years of broad experience in the coal industry, having worked with various public and private coal companies. Before joining Ramaco in 2020, Mr. Fannin held senior sales and marketing positions at Contura Energy, Alpha Natural Resources, and AMCI Resources. He also served as the Managing Member at Highlands Energy Advisors, LLC.
Christopher L. Blanchard - Executive Vice President for Mine Planning and Development
Christopher Blanchard serves as the Executive Vice President for Mine Planning and Development. In this role, he is responsible for the execution and planning of coal production and infrastructure in the East, as well as the development of rare earth deposits at the Brook Mine in Wyoming. He has managed significant mining operations for a range of major public and private companies, particularly within Central Appalachia. Blanchard was appointed Executive Vice President for Operations in December 2020.
Paul Horn - Executive Vice President for Mine Operations
Paul Horn is the Executive Vice President for Mine Operations, bringing nearly 30 years of experience as a senior mining executive in the Central Appalachian region. Prior to joining Ramaco, he spent over two decades at the privately held Booth Energy Group, including serving as President and Chief Operating Officer. His career began in operations at Alliance Coal.
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```htmlKey Risks to Ramaco Resources (METC)
-
Market Volatility and Declining Financial Performance in Metallurgical Coal
Ramaco Resources faces significant risk from the inherent volatility of the metallurgical coal market, which is influenced by global economic conditions and regulatory changes. The company has experienced declining revenue and a shift from net income to net loss in recent periods, indicating operational challenges. For instance, Ramaco reported a significant Q3 2025 loss of $0.25 per share and a drop in revenue to $121 million from $167.4 million the previous year, with a full-year 2025 net loss of US$51.45 million. This declining profitability in its core coal business is further exacerbated by macroeconomic pressures that have led to falling realized prices for metallurgical coal.
-
Risks Associated with Rare Earth Elements (REE) Diversification
Ramaco Resources' strategic pivot and increasing reliance on its Brook Mine project for rare earth elements and critical minerals present substantial risks. This diversification effort involves unproven extraction methods and is based on highly optimistic pricing assumptions, posing significant challenges regarding scalability and market competitiveness. The company's stock has declined amid concerns over the rare earth prospects at the Brook mine, and there is a recognized risk that the economics of rare earth production may disappoint. Furthermore, Ramaco is currently involved in a putative securities class action related to disclosures about its Brook Mine rare earth project.
-
Geopolitical, Regulatory, and ESG Pressures
The metallurgical coal industry, and consequently Ramaco Resources, is subject to significant geopolitical and regulatory risks, alongside growing Environmental, Social, and Governance (ESG) pressures. Government policies and evolving regulatory frameworks can substantially impact the market. Decarbonization initiatives and increased ESG awareness are leading to financial headwinds, with many banks and investors limiting or prohibiting financing for new and existing thermal coal operations, which can extend to metallurgical coal. Additionally, geopolitical events, such as U.S.-China trade pact news, have demonstrated the potential to negatively affect Ramaco's stock due to competitive pressures or changes in demand and pricing. The long-term demand for metallurgical coal faces threats from steel industry decarbonization pathways, including the adoption of Electric Arc Furnaces (EAF) and Direct Reduction Iron (DRI) technologies.
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The accelerating development and adoption of "green steel" production technologies, particularly those utilizing direct reduced iron (DRI) processes powered by green hydrogen, which significantly reduce or eliminate the need for metallurgical coal in primary steelmaking.
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Addressable Market Size for Ramaco Resources (METC)
The addressable market for Ramaco Resources' main product, metallurgical coal, spans both global and U.S. regions.
- The global metallurgical coal market was valued at approximately USD 126.35 billion in 2025 and is projected to reach USD 166.34 billion by 2034, demonstrating a Compound Annual Growth Rate (CAGR) of 3.06% from 2026 to 2034.
- In the United States, the metallurgical coal market was valued at USD 22.82 billion in 2025. The broader North American metallurgical coal market was valued at USD 23.72 billion in 2024 and is expected to grow to USD 27.27 billion by 2030, with a CAGR of 2.35% during that forecast period.
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Ramaco Resources (METC) is positioned for future revenue growth over the next 2-3 years through several key drivers:
- Increased Metallurgical Coal Production and Sales Volume: The company is undertaking strategic expansions to boost its core metallurgical coal output. Ramaco Resources projects full-year 2026 sales volumes to be between 4.1 million and 4.5 million tons, an increase from 3.8 million tons in 2025. This growth is supported by initiating low-volatile growth projects at its Berwind and Maben complexes, which are expected to add significant production in 2026 and 2027. Furthermore, the company aims to enhance its overall production capacity to a run rate of approximately 5 million tons per year, potentially reaching at least 7 million tons annually in the coming years.
- New Revenue Stream from Rare Earth Elements (REE) and Critical Minerals: Ramaco Resources is diversifying into the critical minerals market with its Brook Mine project in Wyoming. This project is a major pivot, focusing on extracting rare earth elements and critical minerals from carbon ore. The company aims for initial production of separated rare earth oxides by late 2025 or early 2026, targeting a domestic REE market projected to reach $3.7 billion by 2030. The board has authorized increasing the annual commercial rare earth and critical mineral oxide production projection to approximately 3,400 tons, a 174% increase from the previously planned 1,240 tons.
- Expansion into International Metallurgical Coal Markets: The company is strategically increasing its sales volume to key Asian markets, including India and Vietnam. This aligns with forecasts predicting annual steel production growth of 4-5% in these regions through 2027, which is expected to drive sustained demand for high-quality metallurgical coal. Ramaco's strategic positioning provides strong access to both domestic steel producers and international export markets.
- Favorable Metallurgical Coal Pricing: Ramaco Resources has committed to approximately 80% of its 2026 metallurgical coal production at strong domestic and export pricing. Although quarterly revenue in Q4 2025 missed analyst expectations, strong overall earnings growth is anticipated in 2026 versus 2025 if benchmark prices hold at current levels or improve.
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```htmlShare Repurchases
- Ramaco Resources authorized a share repurchase program of up to $100 million of its Class A common stock over a 24-month period, announced on December 23, 2025.
- This program represented approximately 10% of the company's market capitalization at the time of the announcement.
- The company plans to execute repurchases opportunistically, and the program is discretionary.
Share Issuance
- In August 2025, Ramaco Resources conducted an upsized public offering, selling 10,666,667 shares of Class A common stock and generating approximately $200 million in gross proceeds for the company.
- Ramaco announced a $150 million underwritten public offering of its Class A common stock in August 2025, with net proceeds intended to accelerate the development of its rare earth elements and critical minerals project, pursue strategic growth opportunities, and for general corporate purposes.
- The company completed capital raises exceeding $600 million in the second half of 2025, which included the $200 million equity raise and $65 million in unsecured notes.
Capital Expenditures
- Ramaco Resources reported capital expenditures of $55.2 million for FY2024.
- Projected capital expenditures for 2025 were $85-$95 million, with a strategic focus on sustaining existing coal operations and funding the growth of its critical rare earth elements project at the Brook Mine.
- Expected capital expenditures for 2026 are $85 million to $90 million, up from $64 million in 2025. This allocation includes roughly $10-$11 per ton for maintenance capital at metallurgical coal mines, approximately $20 million for growth capital at the Berwind and Maben complexes, and around $20 million for the rare earth elements and critical minerals business.
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Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 26.53 |
| Mkt Cap | 2.3 |
| Rev LTM | 1,856 |
| Op Inc LTM | -5 |
| FCF LTM | -82 |
| FCF 3Y Avg | 109 |
| CFO LTM | 156 |
| CFO 3Y Avg | 364 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -8.9% |
| Rev Chg 3Y Avg | -6.8% |
| Rev Chg Q | -9.0% |
| QoQ Delta Rev Chg LTM | -2.5% |
| Op Inc Chg LTM | -101.5% |
| Op Inc Chg 3Y Avg | -61.6% |
| Op Mgn LTM | -0.1% |
| Op Mgn 3Y Avg | 9.7% |
| QoQ Delta Op Mgn LTM | -1.4% |
| CFO/Rev LTM | 8.4% |
| CFO/Rev 3Y Avg | 14.6% |
| FCF/Rev LTM | -2.3% |
| FCF/Rev 3Y Avg | 5.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 2.3 |
| P/S | 1.1 |
| P/Op Inc | -17.3 |
| P/EBIT | -8.5 |
| P/E | -18.9 |
| P/CFO | 16.2 |
| Total Yield | -2.6% |
| Dividend Yield | 0.4% |
| FCF Yield 3Y Avg | 9.1% |
| D/E | 0.1 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -9.1% |
| 3M Rtn | -13.1% |
| 6M Rtn | -2.8% |
| 12M Rtn | 47.9% |
| 3Y Rtn | 25.3% |
| 1M Excs Rtn | -16.1% |
| 3M Excs Rtn | -17.3% |
| 6M Excs Rtn | -6.2% |
| 12M Excs Rtn | 20.5% |
| 3Y Excs Rtn | -60.2% |
Price Behavior
| Market Price | $14.79 | |
| Market Cap ($ Bil) | 1.0 | |
| First Trading Date | 02/03/2017 | |
| Distance from 52W High | -72.9% | |
| 50 Days | 200 Days | |
| DMA Price | $14.75 | $21.99 |
| DMA Trend | up | down |
| Distance from DMA | 0.3% | -32.8% |
| 3M | 1YR | |
| Volatility | 81.4% | 101.4% |
| Downside Capture | 0.85 | 0.81 |
| Upside Capture | -2.14 | 155.04 |
| Correlation (SPY) | 13.6% | 12.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.27 | 0.26 | 0.80 | 0.98 | 1.02 | 0.67 |
| Up Beta | -0.02 | -0.17 | 0.52 | -0.18 | 0.53 | 0.68 |
| Down Beta | -8.32 | 1.45 | 0.99 | 0.56 | 0.51 | 0.98 |
| Up Capture | -4% | 6% | -2% | 55% | 177% | 13% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 10 | 20 | 29 | 61 | 132 | 354 |
| Down Capture | -76% | 42% | 187% | 196% | 129% | 81% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 12 | 23 | 35 | 64 | 118 | 356 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with METC | |
|---|---|---|---|---|
| METC | 39.0% | 100.9% | 0.79 | - |
| Sector ETF (XLB) | 24.9% | 16.4% | 1.18 | 9.8% |
| Equity (SPY) | 30.6% | 12.5% | 1.88 | 13.1% |
| Gold (GLD) | 39.5% | 27.2% | 1.20 | 16.6% |
| Commodities (DBC) | 51.5% | 17.9% | 2.20 | 12.1% |
| Real Estate (VNQ) | 13.1% | 13.5% | 0.67 | 3.0% |
| Bitcoin (BTCUSD) | -17.1% | 42.2% | -0.33 | 21.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with METC | |
|---|---|---|---|---|
| METC | 52.9% | 86.3% | 1.11 | - |
| Sector ETF (XLB) | 6.4% | 18.9% | 0.23 | 18.4% |
| Equity (SPY) | 12.8% | 17.1% | 0.59 | 14.1% |
| Gold (GLD) | 20.5% | 17.9% | 0.94 | 13.3% |
| Commodities (DBC) | 14.3% | 19.1% | 0.61 | 14.8% |
| Real Estate (VNQ) | 3.5% | 18.8% | 0.09 | 2.6% |
| Bitcoin (BTCUSD) | 7.7% | 56.2% | 0.35 | 17.9% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with METC | |
|---|---|---|---|---|
| METC | 9.9% | 76.4% | 0.50 | - |
| Sector ETF (XLB) | 10.3% | 20.6% | 0.44 | 26.8% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 25.0% |
| Gold (GLD) | 13.6% | 15.9% | 0.71 | 6.0% |
| Commodities (DBC) | 9.7% | 17.7% | 0.46 | 20.0% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.24 | 16.3% |
| Bitcoin (BTCUSD) | 67.7% | 66.9% | 1.07 | 14.2% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/25/2026 | -15.5% | -10.3% | -20.9% |
| 10/27/2025 | -16.9% | -18.0% | -52.6% |
| 7/31/2025 | -6.8% | 6.5% | 27.4% |
| 3/10/2025 | 38.3% | 10.1% | -9.4% |
| 11/4/2024 | 9.5% | 23.7% | 38.7% |
| 8/7/2024 | 13.0% | 4.1% | -17.4% |
| 3/7/2024 | 8.4% | -12.2% | -16.9% |
| 11/7/2023 | 2.5% | 58.8% | 50.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 16 | 15 |
| # Negative | 6 | 5 | 6 |
| Median Positive | 8.0% | 8.3% | 6.5% |
| Median Negative | -9.5% | -12.2% | -17.2% |
| Max Positive | 38.3% | 58.8% | 50.9% |
| Max Negative | -16.9% | -18.0% | -52.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 10/28/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/17/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/14/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/14/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/13/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/25/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 First Quarter Shipments | 0.80 Mil | 0.88 Mil | 0.95 Mil | ||||
| 2026 Sales Volume | 4.10 Mil | 4.30 Mil | 4.50 Mil | 8.9% | Higher New | Actual: 3.95 Mil for 2025 | |
| 2026 Company Production | 3.70 Mil | 3.90 Mil | 4.10 Mil | 2.6% | Higher New | Actual: 3.80 Mil for 2025 | |
| 2026 Cash Costs Per Ton Sold | 95 | 97.5 | 100 | -1.5% | Lower New | Actual: 99 for 2025 | |
| 2026 Capital Expenditures | 85.00 Mil | 87.50 Mil | 90.00 Mil | 45.8% | Higher New | Actual: 60.00 Mil for 2025 | |
Prior: Q3 2025 Earnings Reported 10/27/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Company Production | 3.70 Mil | 3.80 Mil | 3.90 Mil | -7.3% | Lowered | Guidance: 4.10 Mil for 2025 | |
| 2025 Sales | 3.80 Mil | 3.95 Mil | 4.10 Mil | -8.1% | Lowered | Guidance: 4.30 Mil for 2025 | |
| 2025 Cash Costs Per Ton Sold | 98 | 99 | 100 | 0 | Affirmed | Guidance: 99 for 2025 | |
| 2025 Capital Expenditures | 58.00 Mil | 60.00 Mil | 62.00 Mil | 0 | Affirmed | Guidance: 60.00 Mil for 2025 | |
| 2025 Selling, general and administrative expense | 63.00 Mil | 65.00 Mil | 67.00 Mil | 58.5% | Raised | Guidance: 41.00 Mil for 2025 | |
| 2025 Depreciation, depletion, and amortization expense | 70.00 Mil | 71.00 Mil | 72.00 Mil | ||||
| 2025 Interest expense, net | 8.00 Mil | 8.50 Mil | 9.00 Mil | ||||
| 2025 Effective tax rate | 20.0% | 22.5% | 25.0% | ||||
| 2025 Idle Mine and Other Costs | 2.00 Mil | 2.25 Mil | 2.50 Mil | ||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Yorktown, Xi Associates Llc | See Footnote | Sell | 3312026 | 10.34 | 2,297 | 23,747 | 12,744,107 | Form | |
| 2 | Yorktown, Energy Partners Xi, LP | Direct | Sell | 3312026 | 10.34 | 2,297 | 23,747 | 12,744,107 | Form | |
| 3 | Yorktown, Ix Associates Llc | See Footnote | Sell | 3312026 | 10.34 | 2,266 | 23,426 | 12,574,407 | Form | |
| 4 | Yorktown, Energy Partners Ix, LP | Direct | Sell | 3312026 | 10.34 | 2,266 | 23,426 | 12,574,407 | Form | |
| 5 | Lawrence, Bryan H | See Footnote | Sell | 3312026 | 10.34 | 6,081 | 62,866 | 8,423,412 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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