Ramaco Resources (NASDAQ:METCB) Sees Strong Trading Volume - Here's What Happened

Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report) saw an uptick in trading volume on Friday . 65,352 shares changed hands during trading, an increase of 38% from the previous session's volume of 47,294 shares.The stock last traded at $10.27 and had previously closed at $10.34.

Ramaco Resources Trading Up 3.8%

The stock has a 50 day moving average of $8.06 and a 200-day moving average of $8.41. The company has a market capitalization of $679.37 million, a P/E ratio of -137.98 and a beta of 0.77.

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

Ramaco Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a dividend of $0.1811 per share. This represents a $0.72 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date was Friday, May 30th. Ramaco Resources's payout ratio is presently -800.00%.

Hedge Funds Weigh In On Ramaco Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in Ramaco Resources by 11.5% in 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. American Century Companies Inc. raised its stake in shares of Ramaco Resources by 20.6% in the fourth quarter. American Century Companies Inc. now owns 174,701 shares of the company's stock valued at $1,726,000 after acquiring an additional 29,811 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Ramaco Resources by 87.6% in the 4th quarter. JPMorgan Chase & Co. now owns 17,413 shares of the company's stock worth $172,000 after acquiring an additional 8,129 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Ramaco Resources during the 4th quarter worth about $146,000. Finally, Discovery Capital Management LLC CT bought a new position in Ramaco Resources during the 4th quarter valued at about $106,000. 9.63% of the stock is owned by hedge funds and other institutional investors.

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.