Short Interest in Ramaco Resources, Inc. (NASDAQ:METCB) Decreases By 35.5%

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) saw a significant decrease in short interest during the month of 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 company's stock are sold short. Based on an average daily volume of 206,800 shares, the short-interest ratio is currently 0.5 days. Based on an average daily volume of 206,800 shares, the short-interest ratio is currently 0.5 days. Approximately 1.7% of the company's stock are sold short.

Ramaco Resources Stock Performance

Shares of METCB traded down $0.09 during mid-day trading on Friday, reaching $17.49. 67,178 shares of the company's stock were exchanged, compared to its average volume of 104,823. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.36 and a quick ratio of 0.84. The stock has a market capitalization of $965.97 million, a PE ratio of -38.07 and a beta of 0.91. The business's fifty day simple moving average is $15.00 and its 200-day simple moving average is $10.39. Ramaco Resources has a 52-week low of $6.01 and a 52-week high of $20.81.

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

Ramaco Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a $0.1918 dividend. This is a positive change from Ramaco Resources's previous quarterly dividend of $0.18. The ex-dividend date is Friday, September 5th. This represents a $0.77 dividend on an annualized basis and a yield of 4.4%. Ramaco Resources's payout ratio is -165.22%.

Hedge Funds Weigh In On Ramaco Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in Ramaco Resources by 1,403.7% in the 1st 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 purchased a new position in Ramaco Resources in the 1st quarter valued at $79,000. XTX Topco Ltd purchased a new position in Ramaco Resources in the 1st quarter valued at $97,000. Bank of America Corp DE lifted its holdings in Ramaco Resources by 64.6% in the fourth quarter. Bank of America Corp DE now owns 12,516 shares of the company's stock valued at $124,000 after acquiring an additional 4,914 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in Ramaco Resources in the fourth quarter valued at $146,000. 9.63% of the stock is currently owned by hedge funds and other institutional investors.

About Ramaco Resources

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.