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

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

Ramaco Resources Stock Down 2.3%

The stock has a 50-day moving average of $8.89 and a 200 day moving average of $8.64. The stock has a market cap of $827.06 million, a PE ratio of -167.20 and a beta of 0.77.

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

Ramaco Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.1811 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.72 annualized dividend and a dividend yield of 4.79%. Ramaco Resources's dividend payout ratio (DPR) is -800.00%.

Institutional Investors Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wedge Capital Management L L P NC raised its position in Ramaco Resources by 11.0% in the second quarter. Wedge Capital Management L L P NC now owns 177,367 shares of the company's stock worth $1,451,000 after acquiring an additional 17,578 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of Ramaco Resources during the 1st quarter worth $166,000. First Manhattan CO. LLC. boosted its stake in Ramaco Resources by 2.9% in the 1st quarter. First Manhattan CO. LLC. now owns 257,093 shares of the company's stock worth $1,828,000 after buying an additional 7,181 shares during the last quarter. Wellington Management Group LLP increased its position in Ramaco Resources by 145.3% during the first 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. Finally, American Century Companies Inc. increased its holdings in shares of Ramaco Resources by 12.6% during the 1st quarter. American Century Companies Inc. now owns 196,657 shares of the company's stock worth $1,398,000 after buying an additional 21,956 shares during the last quarter. 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.

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