Ramaco Resources, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Ramaco Resources, Inc. (NASDAQ: METC), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Ramaco Resources, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Lexington, KY based Ramaco Resources, Inc. operates, develops, and sells metallurgical coal. Its development portfolio includes the Elk Creek project located in southern West Virginia; the Berwind property situated on the border of West Virginia and Virginia; the Knox Creek property is located in Virginia; and the RAM Mine property situated in southwestern Pennsylvania. Ramaco Resources, Inc. reported that its annual Total Revenue increased from $283.39 million in 2021 to $565.68 million in 2022, and that its Net Income rose from $39.75 million in 2021 to $116.04 million in 2022.
On December 11, 2023, Wolfpack Research published a report on Ramaco Resources, Inc. entitled "METC: Pumping and Dumping Nearly Worthless Dirt" (the "Wolfpack Report"). Noting that the Company's stock price "recently soared following a Wall Street Journal article that hyped its Brook Mine as a potential source of up to $37 billion in rare earth elements", the Wolfpack Report that "[t]here is no way to profitably mine them" and estimated that the Company "would lose ~$88 billion if they were ever able to extract, process and sell $37 billion of REEs from the Brook Mine." The Wolfpack Report asserted that Ramaco "has likely performed" extractability tests and "is sitting on disappointing results."
Further, the Wolfpack Report noted that "Yorktown Partners, a PE fund that specializes in energy and mining and knows Brook Mine and the management team better than anyone, has sold ~12% of its holdings since November" and that "[o]verall, insiders have dumped $96.3 million in stock since the start of November."
Those who purchased shares of Ramaco Resources, Inc. (NASDAQ: METC) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NASDAQ: METC Shareholder Alert: Investigation over Possible Securities Laws Violations by Ramaco Resources, Inc.
An investigation for investors in Ramaco Resources, Inc. (NASDAQ: METC) shares over potential securities laws violations by Ramaco Resources, Inc. was announced.