Ramaco Resources (NASDAQ:METCB) Shares Gap Down – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METCB) shares gapped down prior to trading on Friday . The stock had previously closed at $9.76, but opened at $9.56. Ramaco Resources shares last traded at $9.52, with a volume of 2,231 shares.

Ramaco Resources Stock Down 0.8 %

The stock has a 50 day moving average of $10.24 and a 200-day moving average of $10.59.

Ramaco Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.2364 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.95 annualized dividend and a dividend yield of 9.77%. This is a positive change from Ramaco Resources’s previous quarterly dividend of $0.22.

Institutional Investors Weigh In On Ramaco Resources

Institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. boosted its position in shares of Ramaco Resources by 10.3% in the second quarter. American Century Companies Inc. now owns 129,040 shares of the company’s stock valued at $1,401,000 after acquiring an additional 11,997 shares during the period. Renaissance Technologies LLC lifted its stake in Ramaco Resources by 17.3% in the 2nd quarter. Renaissance Technologies LLC now owns 65,900 shares of the company’s stock worth $716,000 after purchasing an additional 9,696 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Ramaco Resources by 191.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,284 shares of the company’s stock valued at $100,000 after purchasing an additional 6,103 shares during the period. Finally, Barclays PLC grew its position 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 purchasing an additional 5,479 shares in the last quarter. Hedge funds and other 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.