Ramaco Resources (NASDAQ:METCB) Reaches New 52-Week High - Here's What Happened

Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $16.40 and last traded at $15.47, with a volume of 220286 shares. The stock had previously closed at $15.62.

Ramaco Resources Stock Performance

The stock has a market cap of $747.20 million, a price-to-earnings ratio of -151.76 and a beta of 0.77. The company's 50 day simple moving average is $9.15 and its 200 day simple moving average is $8.70.

Ramaco Resources (NASDAQ:METCB - Get Free Report) last released its 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 for the quarter.

Ramaco Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.1811 per share. This represents a $0.72 annualized dividend and a yield of 5.30%. The ex-dividend date was Friday, May 30th. Ramaco Resources's payout ratio is -800.00%.

Institutional Trading of Ramaco Resources

A number of institutional investors and hedge funds have recently modified their holdings of the company. Comerica Bank increased its holdings in Ramaco Resources by 271.3% in the 4th quarter. Comerica Bank now owns 73,197 shares of the company's stock valued at $723,000 after buying an additional 53,483 shares during the period. JPMorgan Chase & Co. increased its holdings in Ramaco Resources by 87.6% in the 4th quarter. JPMorgan Chase & Co. now owns 17,413 shares of the company's stock valued at $172,000 after buying an additional 8,129 shares during the period. Bank of New York Mellon Corp increased its holdings in Ramaco Resources by 11.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,780 shares of the company's stock valued at $235,000 after buying an additional 2,458 shares during the period. Bank of America Corp DE increased its holdings in Ramaco Resources by 64.6% in the 4th quarter. Bank of America Corp DE now owns 12,516 shares of the company's stock valued at $124,000 after buying an additional 4,914 shares during the period. Finally, Wells Fargo & Company MN boosted 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 in 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.