Ramaco Resources Says 'Sales Commitments In 2024 Are Now 3.8M Tons Or Almost 90% Above Prior Guidance'
Portfolio Pulse from Benzinga Newsdesk
Ramaco Resources (METC) has significantly increased its sales commitments for 2024 to 3.8 million tons, nearly 90% above its previous guidance. This includes 1.5 million tons to North American customers at $167 per ton and 2.3 million tons to export markets at index-linked pricing. As a result, the company has raised its 2024 sales and production guidance, with sales expected to be between 4.2 and 4.6 million tons and production between 4.0 and 4.4 million tons. This update reflects strong market acceptance of Ramaco's coal and suggests a potential annual sales run-rate of 5 million tons by year-end 2024.
February 12, 2024 | 9:37 pm
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Ramaco Resources has significantly increased its 2024 sales commitments and raised its sales and production guidance, indicating strong market demand for its coal.
The substantial increase in sales commitments and the upward revision of sales and production guidance for 2024 reflect positively on Ramaco Resources' market position and demand for its coal. This news is likely to be viewed positively by investors, potentially leading to an increase in stock price in the short term.
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