Ramaco Resources, Inc. (NASDAQ:METCB) Short Interest Up 44.7% in February

Ramaco Resources, Inc. (NASDAQ:METCB) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 115,000 shares, a growth of 44.7% from the February 13th total of 79,500 shares. Approximately 2.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 42,200 shares, the days-to-cover ratio is presently 2.7 days.

Ramaco Resources Stock Down 2.6 %

Shares of Ramaco Resources stock traded down $0.23 during trading hours on Monday, reaching $8.59. 70,793 shares of the company’s stock were exchanged, compared to its average volume of 45,204,143. Ramaco Resources has a 1 year low of $0.00 and a 1 year high of $9.55. The company has a market capitalization of $451.22 million, a P/E ratio of 25.26 and a beta of 0.92. The business has a fifty day moving average of $9.08 and a two-hundred day moving average of $9.92.

Ramaco Resources (NASDAQ:METCB) last released its earnings results on Monday, March 10th. The company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $170.89 million for the quarter.

Ramaco Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.1971 dividend. This represents a $0.79 dividend on an annualized basis and a dividend yield of 9.18%. The ex-dividend date was Friday, February 28th. Ramaco Resources’s dividend payout ratio is currently 229.41%.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds have recently modified their holdings of METCB. Barclays PLC grew its holdings in shares of 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 purchasing an additional 5,479 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Ramaco Resources by 191.9% in the third quarter. JPMorgan Chase & Co. now owns 9,284 shares of the company’s stock valued at $100,000 after purchasing an additional 6,103 shares during the period. Discovery Capital Management LLC CT purchased a new stake in shares of Ramaco Resources in the fourth quarter valued at about $106,000. Wells Fargo & Company MN boosted its stake in Ramaco Resources by 620.7% during the fourth quarter. Wells Fargo & Company MN now owns 11,099 shares of the company’s stock worth $110,000 after buying an additional 9,559 shares during the period. Finally, Bank of America Corp DE boosted its stake in Ramaco Resources by 64.6% during the fourth quarter. Bank of America Corp DE now owns 12,516 shares of the company’s stock worth $124,000 after buying an additional 4,914 shares during the period. Hedge funds and other 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.