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

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

Ramaco Resources Stock Performance

METCB stock traded up $0.04 during mid-day trading on Friday, hitting $9.11. The stock had a trading volume of 26,599 shares, compared to its average volume of 50,594. The company has a fifty day moving average of $9.99 and a 200 day moving average of $10.49. Ramaco Resources has a 1-year low of $8.83 and a 1-year high of $13.33.

Ramaco Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.2364 dividend. This represents a $0.95 dividend on an annualized basis and a dividend yield of 10.38%. This is an increase from Ramaco Resources’s previous quarterly dividend of $0.22. The ex-dividend date was Monday, December 2nd.

Institutional Trading of Ramaco Resources

Several large investors have recently modified their holdings of METCB. Barclays PLC raised its stake in Ramaco Resources by 321.3% during the 3rd 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 last quarter. American Century Companies Inc. boosted its position in shares of Ramaco Resources by 10.3% during the 2nd quarter. American Century Companies Inc. now owns 129,040 shares of the company’s stock valued at $1,401,000 after acquiring an additional 11,997 shares in the last quarter. Renaissance Technologies LLC increased its stake in Ramaco Resources by 17.3% in the second 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. JPMorgan Chase & Co. lifted its stake in Ramaco Resources by 191.9% during the third quarter. JPMorgan Chase & Co. now owns 9,284 shares of the company’s stock worth $100,000 after purchasing an additional 6,103 shares during the period. Finally, Wedge Capital Management L L P NC lifted its stake in Ramaco Resources by 395.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 205,270 shares of the company’s stock worth $2,028,000 after purchasing an additional 163,828 shares during the period. 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.