Ramaco Resources (NASDAQ:METCB) Shares Up 5.1% – Here’s Why

Shares of Ramaco Resources, Inc. (NASDAQ:METCB) shot up 5.1% during trading on Monday . The stock traded as high as $9.94 and last traded at $9.88. 29,145 shares were traded during mid-day trading, an increase of 5% from the average session volume of 27,853 shares. The stock had previously closed at $9.40.

Ramaco Resources Trading Up 6.3 %

The firm’s fifty day simple moving average is $10.29 and its 200 day simple moving average is $10.62.

Ramaco Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.2364 per share. This represents a $0.95 annualized dividend and a yield of 9.47%. The ex-dividend date was Monday, December 2nd. This is a boost from Ramaco Resources’s previous quarterly dividend of $0.22.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds have recently bought and sold shares of the business. American Century Companies Inc. increased 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 buying an additional 11,997 shares during the last quarter. Renaissance Technologies LLC raised its position in Ramaco Resources by 17.3% during 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 during the period. JPMorgan Chase & Co. lifted its stake in shares of 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 last quarter. Finally, Barclays PLC boosted its holdings in shares of Ramaco Resources by 321.3% in the 3rd quarter. Barclays PLC now owns 7,184 shares of the company’s stock worth $77,000 after purchasing an additional 5,479 shares during the period. 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.