Ramaco Resources, Inc. (NASDAQ:METCB) Short Interest Down 17.6% in September

Ramaco Resources, Inc. (NASDAQ:METCB) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 42,600 shares, a drop of 17.6% from the August 31st total of 51,700 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily volume of 25,300 shares, the days-to-cover ratio is currently 1.7 days.

Ramaco Resources Trading Up 3.9 %

METCB stock traded up $0.40 on Friday, reaching $10.54. 19,154 shares of the company’s stock were exchanged, compared to its average volume of 25,954. The stock has a fifty day moving average of $10.77 and a 200-day moving average of $11.17. Ramaco Resources has a twelve month low of $9.42 and a twelve month high of $17.90.

Ramaco Resources (NASDAQ:METCB) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.08 earnings per share for the quarter. The company had revenue of $155.32 million for the quarter.

Ramaco Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.2246 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.90 dividend on an annualized basis and a yield of 8.52%.

Institutional Investors Weigh In On Ramaco Resources

Several institutional investors have recently modified their holdings of the company. American Century Companies Inc. raised its stake in shares of Ramaco Resources by 10.3% during the 2nd quarter. American Century Companies Inc. now owns 129,040 shares of the company’s stock worth $1,401,000 after buying an additional 11,997 shares during the last quarter. Corsair Capital Management L.P. raised its position in Ramaco Resources by 11.7% during the fourth quarter. Corsair Capital Management L.P. now owns 79,573 shares of the company’s stock worth $1,059,000 after acquiring an additional 8,328 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of 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 in the last quarter. Finally, Global Trust Asset Management LLC lifted its holdings in shares of Ramaco Resources by 1,237.6% in the first quarter. Global Trust Asset Management LLC now owns 14,647 shares of the company’s stock valued at $184,000 after purchasing an additional 13,552 shares in the last quarter. Hedge funds and other institutional investors own 9.63% of the company’s stock.

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.