Ramaco Resources (NASDAQ:METCB) Hits New 1-Year Low – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METCBGet Free Report)’s share price reached a new 52-week low during trading on Saturday . The company traded as low as $9.39 and last traded at $9.39, with a volume of 197889 shares traded. The stock had previously closed at $10.14.

Ramaco Resources Stock Performance

The business has a fifty day moving average of $10.41 and a two-hundred day moving average of $10.67.

Ramaco Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.2364 per share. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from Ramaco Resources’s previous quarterly dividend of $0.22. This represents a $0.95 annualized dividend and a yield of 10.07%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position 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 purchasing an additional 11,997 shares in the last quarter. Renaissance Technologies LLC grew 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 worth $716,000 after buying an additional 9,696 shares in the last quarter. Finally, Barclays PLC increased its stake in Ramaco Resources by 321.3% during the 3rd quarter. Barclays PLC now owns 7,184 shares of the company’s stock worth $77,000 after acquiring an additional 5,479 shares during the period. 9.63% of the stock is owned by institutional investors and hedge funds.

About Ramaco Resources

(Get Free Report)

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.

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