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

Ramaco Resources, Inc. (NASDAQ:METCB) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 42,600 shares, a drop of 17.6% from the August 31st total of 51,700 shares. Based on an average daily volume of 25,300 shares, the short-interest ratio is presently 1.7 days. Currently, 0.9% of the company’s stock are sold short.

Ramaco Resources Price Performance

Shares of METCB traded up $0.09 during mid-day trading on Monday, hitting $10.63. The stock had a trading volume of 116 shares, compared to its average volume of 25,816. Ramaco Resources has a fifty-two week low of $9.42 and a fifty-two week high of $17.90. The company’s fifty day simple moving average is $10.77 and its two-hundred day simple moving average is $11.15.

Ramaco Resources (NASDAQ:METCB) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.08 EPS for the quarter. The business had revenue of $155.32 million during the quarter.

Ramaco Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.2246 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.90 annualized dividend and a yield of 8.45%.

Hedge Funds Weigh In On Ramaco Resources

Large investors have recently bought and sold shares of the business. Corsair Capital Management L.P. grew its holdings in shares of Ramaco Resources by 11.7% during the fourth quarter. Corsair Capital Management L.P. now owns 79,573 shares of the company’s stock valued at $1,059,000 after purchasing an additional 8,328 shares during the last quarter. Renaissance Technologies LLC boosted its position in Ramaco Resources by 17.3% during the 2nd 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. American Century Companies Inc. grew its stake 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 buying an additional 11,997 shares during the last quarter. Finally, Global Trust Asset Management LLC increased its position in Ramaco Resources by 1,237.6% in 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 during the period. Institutional investors own 9.63% of the company’s stock.

Ramaco Resources Company Profile

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.