Ramaco Resources, Inc. (NASDAQ:METCB) Short Interest Update

Ramaco Resources, Inc. (NASDAQ:METCB) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 51,700 shares, an increase of 48.6% from the August 15th total of 34,800 shares. Based on an average trading volume of 22,000 shares, the short-interest ratio is currently 2.4 days. Currently, 1.0% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global Trust Asset Management LLC raised its stake 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 valued at $184,000 after purchasing an additional 13,552 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Ramaco Resources by 17.3% during the second quarter. Renaissance Technologies LLC now owns 65,900 shares of the company’s stock worth $716,000 after purchasing an additional 9,696 shares in the last quarter. Corsair Capital Management L.P. boosted its stake in Ramaco Resources by 11.7% in the 4th quarter. Corsair Capital Management L.P. now owns 79,573 shares of the company’s stock worth $1,059,000 after purchasing an additional 8,328 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Ramaco Resources by 10.3% during the 2nd quarter. American Century Companies Inc. now owns 129,040 shares of the company’s stock worth $1,401,000 after acquiring an additional 11,997 shares during the period. Institutional investors own 9.63% of the company’s stock.

Ramaco Resources Trading Down 0.5 %

Shares of METCB traded down $0.05 during trading hours on Monday, hitting $9.83. 42,279 shares of the stock were exchanged, compared to its average volume of 25,636. The business has a 50-day moving average of $10.93 and a 200-day moving average of $11.29. Ramaco Resources has a fifty-two week low of $9.42 and a fifty-two week high of $17.90.

Ramaco Resources (NASDAQ:METCB) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.08 earnings per share for the quarter. The company had revenue of $155.32 million for the quarter.

Ramaco Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.2246 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 9.14%. The ex-dividend date was Friday, August 30th.

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.