Ramaco Resources (NASDAQ:METCB) Shares Gap Up – What’s Next?

Posted by Paula Ricardo on Nov 15th, 2024

Ramaco Resources, Inc. (NASDAQ:METCB – Get Free Report)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $10.57, but opened at $11.07. Ramaco Resources shares last traded at $11.07, with a volume of 400 shares.

Ramaco Resources Trading Down 1.7 %

The company has a 50-day moving average price of $10.49 and a 200-day moving average price of $10.85.

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.2246 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 8.45%.

Institutional Trading of Ramaco Resources

An institutional investor recently raised its position in Ramaco Resources stock. Renaissance Technologies LLC grew its stake in shares of Ramaco Resources, Inc. (NASDAQ:METCB – Free Report) by 17.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,900 shares of the company’s stock after buying an additional 9,696 shares during the period. Renaissance Technologies LLC owned 0.12% of Ramaco Resources worth $716,000 at the end of the most recent reporting period. 9.63% of the stock is owned by hedge funds and other institutional investors.

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.