Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report) saw unusually-high trading volume on Wednesday following a dividend announcement from the company. Approximately 66,324 shares were traded during trading, an increase of 127% from the previous session's volume of 29,263 shares.The stock last traded at $11.04 and had previously closed at $10.96.
The newly announced dividend which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be issued a $0.2376 dividend. This represents a $0.95 annualized dividend and a dividend yield of 8.72%. The ex-dividend date of this dividend is Friday, May 31st.
Ramaco Resources Price Performance
The business has a 50 day simple moving average of $11.86 and a 200 day simple moving average of $12.73.
Institutional Trading of Ramaco Resources
A number of hedge funds and other institutional investors have recently modified their holdings of METCB. Acuitas Investments LLC lifted its position in Ramaco Resources by 4.0% during the 4th quarter. Acuitas Investments LLC now owns 186,097 shares of the company's stock valued at $2,477,000 after purchasing an additional 7,204 shares during the period. Corsair Capital Management L.P. lifted its stake in shares of Ramaco Resources by 11.7% in the 4th quarter. Corsair Capital Management L.P. now owns 79,573 shares of the company's stock valued at $1,059,000 after purchasing an additional 8,328 shares during the period. Wedge Capital Management L L P NC boosted its position in shares of Ramaco Resources by 25.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 61,322 shares of the company's stock worth $816,000 after purchasing an additional 12,320 shares during the last quarter. Meixler Investment Management Ltd. acquired a new position in Ramaco Resources in the third quarter valued at about $616,000. Finally, Pekin Hardy Strauss Inc. bought a new position in Ramaco Resources during the third quarter worth about $611,000. Institutional investors and hedge funds own 9.63% of the company's stock.
Ramaco Resources Company Profile
(
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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.
Further Reading
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