Ramaco Resources, Inc. (NASDAQ:METCB) Sees Significant Increase in Short Interest

Ramaco Resources, Inc. (NASDAQ:METCB) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 69,900 shares, an increase of 37.1% from the December 31st total of 51,000 shares. Based on an average daily volume of 35,800 shares, the short-interest ratio is presently 2.0 days. Approximately 1.4% of the company’s shares are sold short.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its position in shares of Ramaco Resources by 17.3% in the 2nd quarter. Renaissance Technologies LLC now owns 65,900 shares of the company’s stock valued at $716,000 after acquiring an additional 9,696 shares during the period. Barclays PLC grew its position in shares of Ramaco Resources by 321.3% in the 3rd 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 period. JPMorgan Chase & Co. grew its position in shares of Ramaco Resources by 191.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,284 shares of the company’s stock valued at $100,000 after acquiring an additional 6,103 shares during the period. Wedge Capital Management L L P NC grew its position in shares of Ramaco Resources by 395.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 205,270 shares of the company’s stock valued at $2,028,000 after acquiring an additional 163,828 shares during the period. Finally, Capricorn Fund Managers Ltd grew its position in shares of Ramaco Resources by 4.4% in the 4th quarter. Capricorn Fund Managers Ltd now owns 32,438 shares of the company’s stock valued at $322,000 after acquiring an additional 1,359 shares during the period. Institutional investors own 9.63% of the company’s stock.

Ramaco Resources Trading Down 1.6 %

METCB traded down $0.14 during mid-day trading on Friday, hitting $8.81. The stock had a trading volume of 20,703 shares, compared to its average volume of 24,645. The stock’s fifty day simple moving average is $9.71 and its 200-day simple moving average is $10.37. Ramaco Resources has a 1-year low of $8.74 and a 1-year high of $12.98.

Ramaco Resources (NASDAQ:METCB) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.03) EPS for the quarter. The company had revenue of $167.41 million for the quarter.

Ramaco Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.2364 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.95 dividend on an annualized basis and a yield of 10.73%. This is an increase from Ramaco Resources’s previous quarterly dividend of $0.22.

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.