$7.830
-0.479 (-6.12%)At close
METC News
METC Events
Ramaco Resources Awarded $30M in Insurance Lawsuit
Ramaco Resources (METC) announced that a federal jury has returned a verdict awarding $30M in damages to Ramaco Resources, LLC, a subsidiary of the company, in its insurance coverage lawsuit against Federal Insurance Company and ACE American Insurance Company, both subsidiaries of the Chubb Insurance company (CB). The trial was held in the Charleston Division of the United States District Court for the Southern District of West Virginia. The lawsuit arose from the defendants' denial of Ramaco LLC's insurance claim following a partial structural failure of a raw coal storage silo at the Company's Elk Creek preparation plant in November 2018. Ramaco LLC filed suit in August 2019, seeking a declaratory judgment that the silo collapse was an insurable event and to require coverage under the applicable policy. On September 25, 2026, following the new trial on damages, the jury determined by a preponderance of the evidence that the following damages should be awarded to Ramaco LLC: Damages for aggravation and inconvenience in the amount of $2.5M; and Damages for net economic loss in the amount of $27.5M. The Court entered judgment in favor of Ramaco LLC and against defendants Chubb in accordance with the jury's verdict on September 25, 2026. The jury's verdict resolved two of the three elements of damages in the matter. The remaining element - attorney's fees - was not decided by the jury and will be determined by the Court. The defendants may file post-trial motions within 28 days of the entry of judgment and will have 30 days from the date of entry of the final judgment to file a notice of appeal.
Ramaco Resources Former Senator Resigns from Board
Ramaco Resources announced that former U.S. Senator Joe Manchin will step down from the company's Board of Directors to devote more of his time and attention towards his independent leadership council movement with his daughter Heather. Ramaco said it fully understands and respects Senator Manchin's decision. The company expressed its gratitude for the perspective, judgment and public-service experience he brought to the Board, as well as for his steadfast support of Ramaco, its employees and its mission.
Ramaco Resources Stock Declines Due to Shareholder Distribution
Ramaco Resources issued the following statement regarding the negative activity of its Class A common stock on September 3rd, 2026: "On September 2nd, the Company was informed by Yorktown Energy Partners, one of its larger institutional shareholders, that it would distribute approximately one million shares of Ramaco Class A common stock to its limited partners. We believe this distribution contributed to the negative trading activity in Ramaco stock on September 3rd."
Ramaco Resources Appoints New Executives in Legal and Administration Departments
Ramaco Resources has made new appointments within both the Administration and Legal Departments of the company. Evan Jenkins, currently Vice Chairman and Secretary of the Board of Directors, will additionally assume the role of Chief Administrative Officer. Jenkins joined Ramaco in 2024 and had previously served as General Counsel. He was the former two-term U.S. Congressman from West Virginia and later served as Chief Justice of the West Virginia Supreme Court. Immediately prior to joining Ramaco he was SVP of Legislative Affairs for the U.S. Chamber of Commerce in Washington. Tyler Adkins, currently SVP of Law and Assistant Secretary, will now assume the role of General Counsel. He has been with the company since 2022, previously serving as VP and Assistant General Counsel. Before joining Ramaco, Adkins served in various legal roles in the coal industry, including as Assistant General Counsel at Blackhawk Mining, as General Counsel for Cleveland Cliffs Princeton Coal and with various private law firms, the most recent of which was Steptoe & Johnson. Tyler Fields, currently VP of Law, will now assume the role of Assistant General Counsel. Fields first joined Ramaco in 2024. He has over fifteen years of experience in the mining industry, coming to Ramaco from Alliance Resource Partners, where he served as Corporate Counsel. Cameron Adkins has recently joined Ramaco as Director of Law, Finance and Operations.
Company Reports Q2 Revenue of $144.8M
Reports Q2 revenue $144.8M, consensus $133.14M.
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