Ramaco Resources, Inc. is set to join the broad-market Russell 3000® Index at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the US market opens on 27 June 2020, according to a preliminary list of additions posted 3 June 2022.
The annual Russell indexes reconstitution captures the 4000 largest US stocks as of 6 May 2022, ranking them by total market capitalisation. Membership in the US all-cap Russell 3000 Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index, as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalisation rankings and style attributes.
“We are honoured to be joining the Russell 3000 Index,” said Randall Atkins, Ramaco Resources' Chairman and CEO. “This is yet another positive step in the financial evolution of the company, highlighting our success in growing the business since our original public offering. Additionally, inclusion in the Index will broaden awareness of the company within the institutional Investor community, which we welcome, particularly given the recent increase in our public float from 34% at the end of 2021, to approximately 55% currently.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately US$12 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
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