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

Ramaco Resources, Inc. (NASDAQ:METCB) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 32,200 shares, a decline of 24.4% from the September 15th total of 42,600 shares. Based on an average daily volume of 20,600 shares, the short-interest ratio is presently 1.6 days. Currently, 0.7% of the shares of the company are sold short.

Ramaco Resources Stock Down 2.4 %

Shares of Ramaco Resources stock traded down $0.26 on Tuesday, reaching $10.57. The company’s stock had a trading volume of 14,593 shares, compared to its average volume of 25,205. Ramaco Resources has a 52-week low of $9.42 and a 52-week high of $17.90. The stock has a 50-day moving average price of $10.67 and a 200-day moving average price of $11.04.

Ramaco Resources (NASDAQ:METCB) last released its earnings results on Wednesday, August 7th. The company reported $0.08 EPS 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. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.90 annualized dividend and a yield of 8.50%.

Hedge Funds Weigh In On Ramaco Resources

Several hedge funds and other institutional investors have recently modified their holdings of METCB. Global Trust Asset Management LLC boosted 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 worth $184,000 after buying an additional 13,552 shares during the last quarter. Renaissance Technologies LLC grew its holdings 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. Finally, American Century Companies Inc. increased its position in Ramaco Resources by 10.3% during the second quarter. American Century Companies Inc. now owns 129,040 shares of the company’s stock worth $1,401,000 after purchasing an additional 11,997 shares during the last quarter. 9.63% of the stock is owned by hedge funds and other 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.