Ramaco Resources (NASDAQ:METCB) Reaches New 12-Month Low – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METCB)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $8.83 and last traded at $9.52, with a volume of 60851 shares traded. The stock had previously closed at $9.04.

Ramaco Resources Price Performance

The business has a 50-day moving average of $10.10 and a 200 day moving average of $10.52.

Ramaco Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.2364 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.95 annualized dividend and a dividend yield of 10.05%. This is an increase from Ramaco Resources’s previous quarterly dividend of $0.22.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently modified their holdings of METCB. Barclays PLC increased its holdings 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 during the last quarter. JPMorgan Chase & Co. grew its position in shares of Ramaco Resources by 191.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,284 shares of the company’s stock valued at $100,000 after acquiring an additional 6,103 shares during the period. Renaissance Technologies LLC increased its stake in shares of Ramaco Resources by 17.3% during 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 during the last quarter. American Century Companies Inc. raised its holdings in shares of Ramaco Resources by 10.3% in the 2nd quarter. American Century Companies Inc. now owns 129,040 shares of the company’s stock worth $1,401,000 after purchasing an additional 11,997 shares during the period. Finally, Wedge Capital Management L L P NC lifted its stake in 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 purchasing an additional 163,828 shares during 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.