---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-055558"
form_type: "8-K"
ticker: "METC"
cik: "0001687187"
company_name: "Ramaco Resources, Inc."
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T01:13:08.179272+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Ramaco reports Q1 net income $25.3M ($0.57 EPS), reveals major REE deposit at Brook Mine

## Summary
- Q1 net income $25.3M vs $14.4M Q4 2022; Adjusted EBITDA $48.3M; record production 834K tons, record sales 757K tons.
- 2023 production guidance raised to 3.1-3.6M tons; sales guidance raised to 3.3-3.8M tons (45% YoY increase).
- Weir International estimates 181K-226K tons of magnetic rare earth oxide (MREO) at Brook Mine; 28% of deposit is magnetic REEs.
- First section at Berwind No.1 mine ramping as expected; Board approved second section by mid-2023 adding ~300K tons annualized.
- Cash costs on company-produced coal fell to $105/ton from $114/ton Q4 2022; Elk Creek costs declined 10% sequentially to $90/ton.

## SEC filing metadata
- accession: 0001104659-23-055558
- form_type: 8-K
- ticker: METC
- cik: 0001687187
- company_name: Ramaco Resources, Inc.
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1687187/000110465923055558/0001104659-23-055558-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1687187/000110465923055558/tm2314563d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-055558
- JSON: https://secwatch.observer/filing/0001104659-23-055558.json
- Plain text: https://secwatch.observer/filing/0001104659-23-055558.txt

## Key facts
- Earnings Releases
  Ramaco Resources, Inc. reported three months ended March 31, 2023 results: net income net income of $25.3 million, EPS diluted EPS of $0.57. Guidance raised.
  - Period: three months ended March 31, 2023
  - Net income: net income of $25.3 million
  - EPS: diluted EPS of $0.57
  - Guidance: raised
  - Result: reported results
  source text: Ramaco Resources, Inc. (NASDAQ: METC, “Ramaco” or the “Company”), a leading operator and developer of high-quality, low-cost metallurgical coal, today reported financial results for the three months ended March 31, 2023. FIRST QUARTER 2023 HIGHLIGHTS · The Company had net income of $25.3 million (diluted EPS of $0.57) compared to $14.4 million (diluted EPS of $0.32) in the fourth quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1687187/000110465923055558/0001104659-23-055558-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.