Ramaco Resources (NASDAQ:METCB) Sets New 1-Year High - Here's What Happened

Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $14.85 and last traded at $14.48, with a volume of 207897 shares. The stock had previously closed at $13.11.

Ramaco Resources Trading Up 6.9%

The firm has a market capitalization of $858.19 million, a price-to-earnings ratio of -174.30 and a beta of 0.77. The firm has a fifty day moving average price of $8.47 and a 200 day moving average price of $8.51.

Ramaco Resources (NASDAQ:METCB - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter. The firm had revenue of $134.66 million during the quarter.

Ramaco Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.1811 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date was Friday, May 30th. Ramaco Resources's dividend payout ratio (DPR) is presently -800.00%.

Hedge Funds Weigh In On Ramaco Resources

A number of large investors have recently modified their holdings of METCB. Comerica Bank increased its holdings in shares of Ramaco Resources by 271.3% during the fourth quarter. Comerica Bank now owns 73,197 shares of the company's stock worth $723,000 after purchasing an additional 53,483 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Ramaco Resources by 87.6% during the fourth quarter. JPMorgan Chase & Co. now owns 17,413 shares of the company's stock worth $172,000 after buying an additional 8,129 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Ramaco Resources by 11.5% during the fourth quarter. Bank of New York Mellon Corp now owns 23,780 shares of the company's stock worth $235,000 after buying an additional 2,458 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Ramaco Resources by 64.6% in the fourth quarter. Bank of America Corp DE now owns 12,516 shares of the company's stock worth $124,000 after purchasing an additional 4,914 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Ramaco Resources by 620.7% in the fourth quarter. Wells Fargo & Company MN now owns 11,099 shares of the company's stock worth $110,000 after purchasing an additional 9,559 shares during the last quarter. 9.63% of the stock is currently owned by institutional investors and hedge funds.

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.