Ramaco Resources, Inc. (NASDAQ:METCB) Short Interest Update

Key Points

• Ramaco Resources, Inc. experienced a 35.5% decrease in short interest in August, with 99,400 shares sold short as of August 31st, representing around 1.7% of total shares.
• The company recently announced a quarterly dividend of $0.1918 per share, reflecting a positive change from the previous dividend of $0.18, with an annualized yield of 4.9%.
• In Q2, Ramaco reported a loss of $0.29 per share despite generating revenue of $152.96 million, indicating challenges in profitability with a negative return on equity of 5.70%.

Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totaling 99,400 shares, a decrease of 35.5% from the August 15th total of 154,200 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average daily volume of 206,800 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily volume of 206,800 shares, the days-to-cover ratio is presently 0.5 days. Approximately 1.7% of the shares of the stock are sold short.

Ramaco Resources Stock Performance

Shares of Ramaco Resources stock opened at $15.78 on Monday. The company's 50 day moving average price is $14.40 and its two-hundred day moving average price is $10.20. The firm has a market capitalization of $871.53 million, a P/E ratio of -34.30 and a beta of 0.90. Ramaco Resources has a fifty-two week low of $6.01 and a fifty-two week high of $20.81. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.36 and a quick ratio of 0.84.

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

Ramaco Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.1918 per share. This represents a $0.77 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Friday, September 5th. This is a positive change from Ramaco Resources's previous quarterly dividend of $0.18. Ramaco Resources's payout ratio is presently -167.39%.

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in METCB. American Century Companies Inc. lifted its holdings in shares of Ramaco Resources by 12.6% during the first quarter. American Century Companies Inc. now owns 196,657 shares of the company's stock worth $1,398,000 after purchasing an additional 21,956 shares during the period. Wellington Management Group LLP raised its holdings in Ramaco Resources by 145.3% during the 1st quarter. Wellington Management Group LLP now owns 36,176 shares of the company's stock worth $257,000 after purchasing an additional 21,430 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of Ramaco Resources in the 1st quarter worth approximately $166,000. Bank of New York Mellon Corp lifted its position in shares of Ramaco Resources by 7.8% in the 1st quarter. Bank of New York Mellon Corp now owns 25,628 shares of the company's stock worth $182,000 after purchasing an additional 1,848 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Ramaco Resources in the 1st quarter valued at $97,000. 9.63% of the stock is currently owned by institutional investors and hedge funds.

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.

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