I think there is still some downside to met coal prices from here. The 276-day rule in China and Cyclone Debbie double spike of prices has resulted in an increase in high-cost US production. Most of these mines that are coming back were recently idled so they are in decent shape. I wouldn't be surprised if met coal prices fell from $140, where they are today, to the $120 level in the next 3-6 months or so in order to knock out some of this US supply.
As for METC, you picked the one company I don't know well. I do know the stock is super cheap if they get the mines up and running (something like 1.5x 2020 EBITDA), but I'm not close enough to that story at this point. The management team seems a little loose in my opinion, and I would be concerned that the PE backers do something funny that hurt other shareholders.
Just trying to make a few bucks.
