Ramaco Resources, Inc. (NASDAQ:METCB) Short Interest Update

Ramaco Resources, Inc. (NASDAQ:METCB) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 115,000 shares, an increase of 44.7% from the February 13th total of 79,500 shares. Approximately 2.3% of the company’s stock are sold short. Based on an average daily trading volume, of 42,200 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Investors Weigh In On Ramaco Resources

A number of institutional investors have recently made changes to their positions in METCB. JPMorgan Chase & Co. raised its stake in Ramaco Resources by 191.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,284 shares of the company’s stock worth $100,000 after purchasing an additional 6,103 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of Ramaco Resources by 395.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 205,270 shares of the company’s stock valued at $2,028,000 after buying an additional 163,828 shares during the period. Barclays PLC grew its position in Ramaco Resources by 321.3% during the third quarter. Barclays PLC now owns 7,184 shares of the company’s stock worth $77,000 after buying an additional 5,479 shares in the last quarter. South Dakota Investment Council increased its stake in Ramaco Resources by 2.4% during the 4th quarter. South Dakota Investment Council now owns 92,402 shares of the company’s stock worth $913,000 after acquiring an additional 2,140 shares during the period. Finally, Capricorn Fund Managers Ltd raised its holdings in Ramaco Resources by 4.4% in the 4th quarter. Capricorn Fund Managers Ltd now owns 32,438 shares of the company’s stock valued at $322,000 after acquiring an additional 1,359 shares in the last quarter. Institutional investors own 9.63% of the company’s stock.

Ramaco Resources Price Performance

Shares of METCB opened at $8.59 on Tuesday. The company has a market cap of $451.22 million, a PE ratio of 25.26 and a beta of 0.92. The firm has a 50-day moving average of $9.08 and a 200-day moving average of $9.92. Ramaco Resources has a one year low of $0.00 and a one year high of $9.55.

Ramaco Resources (NASDAQ:METCB) last posted its quarterly earnings results on Monday, March 10th. The company reported $0.06 earnings per share for the quarter. The business had revenue of $170.89 million during the quarter.

Ramaco Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.1971 per share. The ex-dividend date was Friday, February 28th. This represents a $0.79 annualized dividend and a yield of 9.18%. Ramaco Resources’s dividend payout ratio (DPR) is presently 229.41%.

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.