Ramaco Resources (NASDAQ:METCB) Shares Gap Up After Dividend Announcement

Ramaco Resources, Inc. (NASDAQ:METCBGet Free Report) gapped up prior to trading on Tuesday after the company announced a dividend. The stock had previously closed at $10.99, but opened at $11.24. Ramaco Resources shares last traded at $11.10, with a volume of 472 shares.

The newly announced dividend which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be given a $0.2376 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.95 annualized dividend and a yield of 8.63%.

Ramaco Resources Price Performance

The company has a 50 day moving average price of $11.73 and a 200 day moving average price of $12.67.

Institutional Trading of Ramaco Resources

A number of institutional investors have recently modified their holdings of METCB. Meixler Investment Management Ltd. bought a new stake in Ramaco Resources in the third quarter valued at approximately $616,000. Pekin Hardy Strauss Inc. acquired a new stake in Ramaco Resources during the third quarter worth approximately $611,000. Global Trust Asset Management LLC grew its position in Ramaco Resources by 1,237.6% during the first quarter. Global Trust Asset Management LLC now owns 14,647 shares of the company’s stock worth $184,000 after buying an additional 13,552 shares in the last quarter. Wedge Capital Management L L P NC grew its position in Ramaco Resources by 25.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 61,322 shares of the company’s stock worth $816,000 after buying an additional 12,320 shares in the last quarter. Finally, Corsair Capital Management L.P. grew its position in Ramaco Resources by 11.7% during the fourth quarter. Corsair Capital Management L.P. now owns 79,573 shares of the company’s stock worth $1,059,000 after buying an additional 8,328 shares in the last quarter. 9.63% of the stock is currently owned by institutional investors.

Ramaco Resources Company Profile

(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.

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