Ramaco Resources (NASDAQ:METCB) Hits New 1-Year Low – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METCB) shares hit a new 52-week low during mid-day trading on Saturday . The stock traded as low as $9.39 and last traded at $9.39, with a volume of 197889 shares changing hands. The stock had previously closed at $10.14.

Ramaco Resources Stock Down 7.4 %

The company has a 50 day moving average price of $10.41 and a 200-day moving average price of $10.67.

Ramaco Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.2364 dividend. This represents a $0.95 dividend on an annualized basis and a yield of 10.07%. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from Ramaco Resources’s previous quarterly dividend of $0.22.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors have recently added to or reduced their stakes in METCB. Barclays PLC boosted its holdings in shares of Ramaco Resources by 321.3% during the 3rd quarter. Barclays PLC now owns 7,184 shares of the company’s stock valued at $77,000 after acquiring an additional 5,479 shares in the last quarter. Renaissance Technologies LLC raised its position in Ramaco Resources by 17.3% in the second quarter. Renaissance Technologies LLC now owns 65,900 shares of the company’s stock valued at $716,000 after purchasing an additional 9,696 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Ramaco Resources by 10.3% during the second quarter. American Century Companies Inc. now owns 129,040 shares of the company’s stock valued at $1,401,000 after purchasing an additional 11,997 shares in the last quarter. 9.63% of the stock is currently owned by institutional investors and hedge funds.

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.