Ramaco Resources (NASDAQ:METCB) Shares Gap Up to $10.17

Ramaco Resources, Inc. (NASDAQ:METCB)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $10.17, but opened at $10.42. Ramaco Resources shares last traded at $10.15, with a volume of 1,108 shares trading hands.

Ramaco Resources Stock Performance

The firm’s 50 day simple moving average is $11.01 and its 200 day simple moving average is $11.36.

Ramaco Resources (NASDAQ:METCB) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.08 EPS for the quarter. The firm had revenue of $155.32 million during the quarter.

Ramaco Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a dividend of $0.2246 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 8.99%. The ex-dividend date is Friday, August 30th.

Institutional Investors Weigh In On Ramaco Resources

Institutional investors have recently made changes to their positions in the company. Global Trust Asset Management LLC boosted its holdings in Ramaco Resources by 1,237.6% during the first quarter. Global Trust Asset Management LLC now owns 14,647 shares of the company’s stock worth $184,000 after buying an additional 13,552 shares during the last quarter. Corsair Capital Management L.P. increased its position in shares of 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 buying an additional 8,328 shares during the period. Renaissance Technologies LLC boosted its holdings in Ramaco Resources by 17.3% in the second quarter. Renaissance Technologies LLC now owns 65,900 shares of the company’s stock worth $716,000 after acquiring an additional 9,696 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Ramaco Resources by 10.3% during the 2nd 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 in the last quarter. 9.63% of the stock is currently owned by institutional investors and hedge funds.

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.