Ramaco Resources (NASDAQ:METCB) Stock Price Down 6.7% – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METCB)’s share price dropped 6.7% during mid-day trading on Thursday . The stock traded as low as $10.30 and last traded at $10.30. Approximately 22,446 shares were traded during trading, a decline of 12% from the average daily volume of 25,434 shares. The stock had previously closed at $11.04.

Ramaco Resources Stock Down 8.5 %

The business has a 50 day simple moving average of $10.53 and a 200-day simple moving average of $10.75.

Ramaco Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.2364 dividend. This is a boost from Ramaco Resources’s previous quarterly dividend of $0.22. This represents a $0.95 annualized dividend and a yield of 9.36%. The ex-dividend date is Monday, December 2nd.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of METCB. American Century Companies Inc. lifted its position in 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 buying an additional 11,997 shares in the last quarter. Renaissance Technologies LLC raised 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 acquiring an additional 9,696 shares in the last quarter. Finally, Barclays PLC lifted its stake in Ramaco Resources by 321.3% in the third 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 last quarter. Institutional investors and hedge funds 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.