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

Ramaco Resources logo with Energy background

Shares of Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report) hit a new 52-week high during mid-day trading on Saturday . The stock traded as high as $12.00 and last traded at $11.97, with a volume of 653423 shares. The stock had previously closed at $10.34.

Ramaco Resources Stock Up 15.8%

The stock has a fifty day moving average of $8.06 and a 200-day moving average of $8.43. The stock has a market cap of $654.76 million, a PE ratio of -132.99 and a beta of 0.77.

Ramaco Resources (NASDAQ:METCB - Get Free Report) last released its quarterly 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.1811 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date of this dividend was Friday, May 30th. Ramaco Resources's dividend payout ratio is presently -800.00%.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its position in shares of Ramaco Resources by 1,403.7% during the 1st quarter. Russell Investments Group Ltd. now owns 9,052 shares of the company's stock worth $64,000 after purchasing an additional 8,450 shares during the last quarter. Nuveen LLC acquired a new position in shares of Ramaco Resources during the 1st quarter worth approximately $79,000. Barclays PLC raised its position in shares of Ramaco Resources by 19.3% during the 4th quarter. Barclays PLC now owns 8,572 shares of the company's stock worth $85,000 after purchasing an additional 1,388 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Ramaco Resources during the 1st quarter worth approximately $97,000. Finally, Discovery Capital Management LLC CT acquired a new position in shares of Ramaco Resources during the 4th quarter worth approximately $106,000. 9.63% of the stock is currently owned by institutional investors and hedge funds.

About Ramaco Resources

(Get Free Report)

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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