Ramaco Resources (NASDAQ:METCB) Hits New 12-Month High - Here's What Happened

Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report) shares 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 trading hands. The stock had previously closed at $10.34.

Ramaco Resources Trading Down 0.9%

The stock has a market capitalization of $673.36 million, a PE ratio of -136.76 and a beta of 0.77. The business has a fifty day moving average price of $8.06 and a 200-day moving average price of $8.41.

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 firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given 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 5.88%. Ramaco Resources's payout ratio is -800.00%.

Institutional Investors Weigh In On Ramaco Resources

Several large investors have recently added to or reduced their stakes in METCB. Comerica Bank lifted its stake in shares of Ramaco Resources by 271.3% during the 4th 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 last quarter. JPMorgan Chase & Co. raised its stake in Ramaco Resources by 87.6% in the fourth 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 last quarter. Bank of New York Mellon Corp raised its stake 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 valued at $235,000 after buying an additional 2,458 shares during the last quarter. Bank of America Corp DE raised its stake in Ramaco Resources by 64.6% in the fourth 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 last quarter. Finally, Wells Fargo & Company MN raised its stake in Ramaco Resources by 620.7% in the fourth quarter. Wells Fargo & Company MN now owns 11,099 shares of the company's stock valued at $110,000 after buying an additional 9,559 shares during the last quarter. 9.63% of the stock is owned by institutional investors.

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.