Short Interest in Ramaco Resources, Inc. (NASDAQ:METCB) Expands By 57.8%

Key Points

• Ramaco Resources, Inc. saw a significant increase in short interest, rising by 57.8% in July to a total of 158,100 shares, which constitutes 2.6% of their shares sold short.
• The company reported an EPS of ($0.29) for the quarter ending July 31st, with revenues of $152.96 million and negative margins and return on equity.
• Ramaco Resources declared a quarterly dividend of $0.1811 per share, yielding 5.5%, although its dividend payout ratio is currently negative at -156.52%.

Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 158,100 shares, agrowthof57.8% from the June 30th total of 100,200 shares. Based on an average daily volume of 149,900 shares, the days-to-cover ratio is currently 1.1 days. Currently,2.6% of the company's stock are short sold. Currently,2.6% of the company's stock are short sold. Based on an average daily volume of 149,900 shares, the days-to-cover ratio is currently 1.1 days.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its stake in Ramaco Resources by 1,403.7% during the first quarter. Russell Investments Group Ltd. now owns 9,052 shares of the company's stock valued at $64,000 after buying an additional 8,450 shares during the last quarter. Nuveen LLC bought a new position in Ramaco Resources during the first quarter valued at approximately $79,000. Barclays PLC boosted its stake in Ramaco Resources by 19.3% during the fourth quarter. Barclays PLC now owns 8,572 shares of the company's stock valued at $85,000 after buying an additional 1,388 shares during the last quarter. XTX Topco Ltd bought a new position in Ramaco Resources during the first quarter valued at approximately $97,000. Finally, Wells Fargo & Company MN lifted its stake in shares of Ramaco Resources by 620.7% in the 4th quarter. Wells Fargo & Company MN now owns 11,099 shares of the company's stock valued at $110,000 after purchasing an additional 9,559 shares during the last quarter. Institutional investors own 9.63% of the company's stock.

Ramaco Resources Price Performance

Ramaco Resources stock traded down $0.15 during mid-day trading on Friday, reaching $13.84. 168,593 shares of the stock traded hands, compared to its average volume of 333,306. The stock has a market capitalization of $764.38 million, a PE ratio of -30.09 and a beta of 0.89. Ramaco Resources has a 12-month low of $6.01 and a 12-month high of $16.40. The business's 50-day moving average is $10.26 and its 200-day moving average is $9.01.

Ramaco Resources (NASDAQ:METCB - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.29) EPS for the quarter. The firm had revenue of $152.96 million for the quarter. Ramaco Resources had a negative net margin of 3.17% and a negative return on equity of 5.70%.

Ramaco Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.1811 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.2%. Ramaco Resources's dividend payout ratio is -156.52%.

Ramaco Resources Company Profile

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.