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

Ramaco Resources, Inc. (NASDAQ:METCB)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $9.28 and last traded at $9.55, with a volume of 45593 shares. The stock had previously closed at $9.59.

Ramaco Resources Trading Down 1.6 %

The firm has a fifty day moving average price of $10.29 and a 200 day moving average price of $10.63.

Ramaco Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.2364 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from Ramaco Resources’s previous quarterly dividend of $0.22. This represents a $0.95 dividend on an annualized basis and a yield of 10.06%.

Hedge Funds Weigh In On Ramaco Resources

Several hedge funds have recently modified their holdings of the stock. Barclays PLC raised its stake in Ramaco Resources by 321.3% in the 3rd quarter. Barclays PLC now owns 7,184 shares of the company’s stock valued at $77,000 after acquiring an additional 5,479 shares during the period. JPMorgan Chase & Co. lifted its position in Ramaco Resources by 191.9% during the third quarter. JPMorgan Chase & Co. now owns 9,284 shares of the company’s stock worth $100,000 after acquiring an additional 6,103 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of 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 acquiring an additional 9,696 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Ramaco Resources by 10.3% in the second quarter. American Century Companies Inc. now owns 129,040 shares of the company’s stock valued at $1,401,000 after purchasing an additional 11,997 shares during the last quarter. 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.