Short Interest in Ramaco Resources, Inc. (NASDAQ:METCB) Drops By 24.4%

Ramaco Resources, Inc. (NASDAQ:METCB) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 32,200 shares, a decline of 24.4% from the September 15th total of 42,600 shares. Based on an average daily volume of 20,600 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.7% of the company’s shares are short sold.

Ramaco Resources Stock Down 2.4 %

METCB traded down $0.26 on Tuesday, hitting $10.57. The company had a trading volume of 14,593 shares, compared to its average volume of 25,205. The company’s fifty day moving average price is $10.67 and its 200 day moving average price is $11.04. Ramaco Resources has a 1 year low of $9.42 and a 1 year high of $17.90.

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

Ramaco Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.2246 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.90 dividend on an annualized basis and a yield of 8.50%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Global Trust Asset Management LLC raised its stake 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. Renaissance Technologies LLC increased its holdings in 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 period. Finally, American Century Companies Inc. raised its position in 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. 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.