Short Interest in Ramaco Resources, Inc. (NASDAQ:METCB) Rises By 37.1%

Ramaco Resources, Inc. (NASDAQ:METCB) was the target of 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 days-to-cover ratio is presently 2.0 days. Currently, 1.4% of the company’s stock are short sold.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors have recently modified their holdings of METCB. Renaissance Technologies LLC raised its position in shares of 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 purchasing an additional 9,696 shares during the period. Barclays PLC raised its position 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. raised its position 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. Wedge Capital Management L L P NC raised its position in shares of Ramaco Resources by 395.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 205,270 shares of the company’s stock valued at $2,028,000 after purchasing an additional 163,828 shares during the period. Finally, Capricorn Fund Managers Ltd increased its position in Ramaco Resources by 4.4% during the fourth quarter. Capricorn Fund Managers Ltd now owns 32,438 shares of the company’s stock worth $322,000 after acquiring an additional 1,359 shares during the period. Institutional investors own 9.63% of the company’s stock.

Ramaco Resources Price Performance

NASDAQ METCB traded down $0.14 during trading on Friday, reaching $8.81. The company’s stock had a trading volume of 20,703 shares, compared to its average volume of 24,645. The business has a 50-day moving average price of $9.71 and a 200-day moving average price of $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 posted its earnings results on Monday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter. The business had revenue of $167.41 million for the quarter.

Ramaco Resources Increases Dividend

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

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.