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

Shares of Ramaco Resources, Inc. (NASDAQ:METCB) gapped down before the market opened on Wednesday . The stock had previously closed at $9.67, but opened at $9.43. Ramaco Resources shares last traded at $9.53, with a volume of 1,834 shares traded.

Ramaco Resources Price Performance

The company’s 50 day simple moving average is $9.91 and its two-hundred day simple moving average is $10.46.

Ramaco Resources (NASDAQ:METCB) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.03) EPS for the quarter. The firm had revenue of $167.41 million for the quarter.

Ramaco Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.2364 per share. This represents a $0.95 annualized dividend and a yield of 10.27%. The ex-dividend date was Monday, December 2nd. This is an increase from Ramaco Resources’s previous quarterly dividend of $0.22.

Institutional Investors Weigh In On Ramaco Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wedge Capital Management L L P NC raised its position in shares of Ramaco Resources by 395.3% during 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 buying an additional 163,828 shares during the last quarter. American Century Companies Inc. increased its stake in Ramaco Resources by 10.3% during the second quarter. American Century Companies Inc. now owns 129,040 shares of the company’s stock valued at $1,401,000 after acquiring an additional 11,997 shares during the period. Renaissance Technologies LLC raised its holdings in Ramaco Resources by 17.3% in the 2nd quarter. Renaissance Technologies LLC now owns 65,900 shares of the company’s stock valued at $716,000 after acquiring an additional 9,696 shares in the last quarter. Capricorn Fund Managers Ltd lifted its position in shares of Ramaco Resources by 4.4% in the 4th 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. Finally, JPMorgan Chase & Co. grew its holdings in shares of Ramaco Resources by 191.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,284 shares of the company’s stock worth $100,000 after purchasing an additional 6,103 shares in the last quarter. 9.63% of the stock is owned by institutional investors and hedge funds.

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.