Ramaco Resources (NASDAQ:METCB) Trading Up 8.2% - Here's Why

Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report)'s stock price was up 8.2% on Monday . The stock traded as high as $15.38 and last traded at $15.10. Approximately 159,391 shares changed hands during trading, an increase of 156% from the average daily volume of 62,308 shares. The stock had previously closed at $13.95.

Ramaco Resources Trading Down 1.5%

The company has a 50 day moving average of $9.03 and a 200 day moving average of $8.68. The firm has a market cap of $833.63 million, a price-to-earnings ratio of -169.31 and a beta of 0.77.

Ramaco Resources (NASDAQ:METCB - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.20) 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 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 yield of 4.75%. Ramaco Resources's payout ratio is -800.00%.

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors have recently bought and sold shares of the business. Barclays PLC increased its position in Ramaco Resources by 19.3% in the fourth 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 period. Russell Investments Group Ltd. increased its position in Ramaco Resources by 1,403.7% in the first 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 period. Discovery Capital Management LLC CT acquired a new stake in Ramaco Resources in the fourth quarter worth about $106,000. Wells Fargo & Company MN increased its position in Ramaco Resources by 620.7% in the fourth quarter. Wells Fargo & Company MN now owns 11,099 shares of the company's stock worth $110,000 after purchasing an additional 9,559 shares during the period. Finally, Nuveen LLC acquired a new stake in Ramaco Resources in the first quarter worth about $79,000. Institutional investors own 9.63% of the company's stock.

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.