SCHEDULE: Yorktown Partners Reduces Ramaco Resources Stake to 4.81%

Yorktown Energy Partners IX, L.P. and its affiliates have reduced their beneficial ownership in Ramaco Resources, Inc. to 4.81% through recent open market sales.

Summary

• Yorktown Energy Partners IX, L.P., along with its affiliates Yorktown IX Company LP and Yorktown IX Associates LLC, filed Amendment No. 12 to their Schedule 13D.
• The filing reports a decrease in their beneficial ownership of Ramaco Resources, Inc. Class A Common Stock.
• As of March 23, 2026, the Reporting Persons beneficially own 2,694,564 shares, representing 4.81% of the outstanding Class A Common Stock.
• This percentage is based on 55,963,520 shares outstanding as of February 25, 2026, as reported in Ramaco Resources' Form 10-K.
• Between March 5, 2026, and March 23, 2026, Yorktown Energy Partners IX, L.P. sold a total of 402,570 shares in open market transactions.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a moderately negative development for Ramaco Resources, as a significant institutional investor has reduced its stake, potentially signaling a less optimistic outlook or a strategic exit.

Negatives

• A significant institutional investor, Yorktown Energy Partners IX, L.P., sold 402,570 shares of Ramaco Resources Class A Common Stock in open market transactions.
• The sales occurred at weighted average prices ranging from $13.4811 to $15.1791 per share, indicating a reduction in conviction or a portfolio rebalancing.
• The beneficial ownership stake has decreased to 4.81%, falling below the 5% threshold, which often signals a reduced level of influence or commitment from the investor.

Risks

• The reduction in stake by a long-term institutional investor like Yorktown Partners could signal a perceived lack of future upside or increased risk by that investor.
• Increased selling pressure on the stock due to the open market sales.

Future Outlook

The filing does not contain any forward-looking statements or guidance from Ramaco Resources, Inc. It solely reports a change in beneficial ownership by a third-party investor.

Industry Context

StockSavvy.ai notes that a reduction in stake by a long-standing institutional investor like Yorktown Partners, a private equity firm focused on the energy sector, could be interpreted in several ways. It might reflect a strategic portfolio rebalancing, a realization of gains, or a revised outlook on the metallurgical coal market or Ramaco Resources' specific prospects. Given the cyclical nature of the coal industry, such moves by major investors are closely watched for signals regarding market sentiment and future commodity price expectations.

Stakeholder Impact

• Shareholders: May interpret the reduction in stake by a major investor as a negative signal, potentially leading to downward pressure on the stock price.
• Management: Could face questions regarding the reasons for the investor's reduced confidence or strategic shift.

Next Steps

• Yorktown Energy Partners IX, L.P. undertakes to provide full information regarding the number of shares sold at each separate price within the reported ranges upon request from the Issuer or the SEC staff.

Key Dates

Recommendation

While the reduction in stake by a significant institutional investor like Yorktown Partners is a negative signal, it does not necessarily warrant an immediate 'sell' recommendation without further analysis of Ramaco Resources' underlying fundamentals and the broader market conditions for metallurgical coal. The investor's decision could be driven by portfolio rebalancing or profit-taking rather than a fundamental deterioration of the company. Investors should 'hold' and monitor future filings, company performance, and industry trends to assess the long-term implications of this ownership change.

Keywords

Ramaco Resources, RMA, Yorktown Partners, Schedule 13D/A, Beneficial Ownership, Stock Sales, Institutional Investor, Coal Mining, Energy Sector