Ramaco Resources (NASDAQ:METCB) Shares Up 10.7% - Time to Buy?

Shares of Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report) shot up 10.7% during trading on Monday . The stock traded as high as $13.99 and last traded at $13.26. 392,519 shares were traded during trading, an increase of 664% from the average session volume of 51,363 shares. The stock had previously closed at $11.97.

Ramaco Resources Trading Up 8.1%

The stock has a market capitalization of $707.54 million, a PE ratio of -144.05 and a beta of 0.77. The company's 50-day moving average is $8.06 and its 200 day moving average is $8.41.

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

Ramaco Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.1811 per share. The ex-dividend date was Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.60%. Ramaco Resources's payout ratio is -800.00%.

Hedge Funds Weigh In On Ramaco Resources

Several large investors have recently made changes to their positions in METCB. Barclays PLC grew its stake in Ramaco Resources by 19.3% in the 4th quarter. Barclays PLC now owns 8,572 shares of the company's stock valued at $85,000 after acquiring an additional 1,388 shares during the period. Bank of New York Mellon Corp grew its stake in Ramaco Resources by 7.8% in the 1st quarter. Bank of New York Mellon Corp now owns 25,628 shares of the company's stock valued at $182,000 after acquiring an additional 1,848 shares during the period. Acuitas Investments LLC grew its stake in Ramaco Resources by 1.6% in the 1st quarter. Acuitas Investments LLC now owns 149,900 shares of the company's stock valued at $1,066,000 after acquiring an additional 2,362 shares during the period. Bank of America Corp DE grew its stake 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 acquiring an additional 4,914 shares during the period. Finally, State of Tennessee Department of Treasury grew its stake in Ramaco Resources by 39.5% in the 4th quarter. State of Tennessee Department of Treasury now owns 24,458 shares of the company's stock valued at $242,000 after acquiring an additional 6,927 shares during the period. 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.

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