Ramaco Resources (NASDAQ:METCB) Shares Gap Down – Here’s Why

Shares of Ramaco Resources, Inc. (NASDAQ:METCB) gapped down before the market opened on Monday . The stock had previously closed at $10.50, but opened at $10.10. Ramaco Resources shares last traded at $10.13, with a volume of 14,952 shares traded.

Ramaco Resources Trading Down 2.5 %

The business has a 50-day moving average price of $10.49 and a 200-day moving average price of $10.71.

Ramaco Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.2364 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from Ramaco Resources’s previous quarterly dividend of $0.22. This represents a $0.95 dividend on an annualized basis and a dividend yield of 9.23%.

Institutional Trading of Ramaco Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in METCB. American Century Companies Inc. boosted 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 acquiring an additional 11,997 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Ramaco Resources by 17.3% during the 2nd quarter. Renaissance Technologies LLC now owns 65,900 shares of the company’s stock worth $716,000 after acquiring an additional 9,696 shares during the last quarter. Finally, Barclays PLC boosted its stake in Ramaco Resources by 321.3% during the 3rd quarter. Barclays PLC now owns 7,184 shares of the company’s stock worth $77,000 after acquiring an additional 5,479 shares during the last quarter. 9.63% of the stock is currently owned by institutional investors and hedge funds.

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.