Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report) shot up 3.5% during mid-day trading on Tuesday . The company traded as high as $11.58 and last traded at $11.58. 3,923 shares were traded during mid-day trading, a decline of 87% from the average session volume of 30,582 shares. The stock had previously closed at $11.19.
Ramaco Resources Stock Up 0.2 %
The firm's 50-day moving average price is $12.12 and its 200 day moving average price is $12.80.
Ramaco Resources Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.2416 per share. This represents a $0.97 dividend on an annualized basis and a yield of 8.62%. The ex-dividend date of this dividend was Thursday, February 29th.
Hedge Funds Weigh In On Ramaco Resources
A number of institutional investors have recently added to or reduced their stakes in the stock. Acuitas Investments LLC boosted its stake in shares of Ramaco Resources by 524.8% in the 3rd quarter. Acuitas Investments LLC now owns 178,893 shares of the company's stock valued at $2,134,000 after purchasing an additional 150,262 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new position in Ramaco Resources during the third quarter worth $611,000. Meixler Investment Management Ltd. acquired a new position in Ramaco Resources during the third quarter worth $616,000. Nuveen Asset Management LLC acquired a new position in Ramaco Resources during the second quarter worth $108,000. Finally, Barclays PLC raised its holdings in Ramaco Resources by 673.4% during the fourth quarter. Barclays PLC now owns 6,203 shares of the company's stock worth $83,000 after buying an additional 5,401 shares during the last quarter. 9.63% of the stock is currently owned by institutional investors and hedge funds.
About Ramaco Resources
(
Get Free Report)
Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.
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