Short Interest in Ramaco Resources, Inc. (NASDAQ:METCB) Increases By 48.6%

Ramaco Resources, Inc. (NASDAQ:METCB) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 51,700 shares, an increase of 48.6% from the August 15th total of 34,800 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily trading volume, of 22,000 shares, the short-interest ratio is currently 2.4 days.

Ramaco Resources Trading Down 0.5 %

Shares of NASDAQ:METCB traded down $0.05 on Monday, reaching $9.83. The company had a trading volume of 42,258 shares, compared to its average volume of 25,636. Ramaco Resources has a 52-week low of $9.42 and a 52-week high of $17.90. The firm’s 50 day simple moving average is $10.93 and its 200-day simple moving average is $11.29.

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

Ramaco Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.2246 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 9.14%. The ex-dividend date of this dividend was Friday, August 30th.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors have recently bought and sold shares of METCB. Corsair Capital Management L.P. lifted its stake in shares of Ramaco Resources by 11.7% in the 4th quarter. Corsair Capital Management L.P. now owns 79,573 shares of the company’s stock valued at $1,059,000 after purchasing an additional 8,328 shares during the last quarter. Global Trust Asset Management LLC boosted its holdings in shares of Ramaco Resources by 1,237.6% in the first quarter. Global Trust Asset Management LLC now owns 14,647 shares of the company’s stock valued at $184,000 after acquiring an additional 13,552 shares in the last quarter. 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 valued at $1,401,000 after purchasing an additional 11,997 shares in the last quarter. Finally, Renaissance Technologies LLC boosted 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 acquiring an additional 9,696 shares in the last quarter. 9.63% of the stock is owned by hedge funds and other institutional investors.

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.