Ramaco Resources (NASDAQ:METCB) Shares Up 3.5%

Ramaco Resources, Inc. (NASDAQ:METCB) shares traded up 3.5% during trading on Tuesday . The company traded as high as $11.58 and last traded at $11.58. 3,923 shares traded hands during trading, a decline of 87% from the average session volume of 30,582 shares. The stock had previously closed at $11.19.

Ramaco Resources Stock Performance

The business has a fifty day simple moving average of $12.12 and a 200 day simple moving average of $12.79.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.2416 dividend. This represents a $0.97 annualized dividend and a dividend yield of 8.53%. The ex-dividend date of this dividend was Thursday, February 29th.

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors have recently modified their holdings of METCB. Yorktown Energy Partners IX L.P. purchased a new position in Ramaco Resources in the second quarter valued at approximately $11,903,000. Yorktown Energy Partners XI L.P. purchased a new position in Ramaco Resources in the second quarter valued at approximately $11,856,000. Yorktown Energy Partners X L.P. purchased a new position in Ramaco Resources in the second quarter valued at approximately $7,836,000. Vanguard Group Inc. lifted its stake in Ramaco Resources by 46.3% in the third quarter. Vanguard Group Inc. now owns 355,771 shares of the company’s stock valued at $4,244,000 after purchasing an additional 112,647 shares during the last quarter. Finally, BlackRock Inc. purchased a new stake in shares of Ramaco Resources during the second quarter worth $3,434,000. 9.63% of the stock is owned by institutional investors.

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.