Ramaco Resources, Inc. (NASDAQ:METCB) Short Interest Up 44.7% in February

Ramaco Resources, Inc. (NASDAQ:METCB) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 115,000 shares, a growth of 44.7% from the February 13th total of 79,500 shares. Based on an average daily volume of 42,200 shares, the days-to-cover ratio is currently 2.7 days. Currently, 2.3% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Ramaco Resources by 191.9% in the third quarter. JPMorgan Chase & Co. now owns 9,284 shares of the company’s stock worth $100,000 after acquiring an additional 6,103 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Ramaco Resources by 395.3% during the 4th quarter. Wedge Capital Management L L P NC now owns 205,270 shares of the company’s stock worth $2,028,000 after buying an additional 163,828 shares during the last quarter. Barclays PLC lifted its position in shares of 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 buying an additional 5,479 shares during the last quarter. South Dakota Investment Council lifted its position in shares of Ramaco Resources by 2.4% during the 4th quarter. South Dakota Investment Council now owns 92,402 shares of the company’s stock worth $913,000 after buying an additional 2,140 shares during the last quarter. Finally, Capricorn Fund Managers Ltd lifted its position in shares of Ramaco Resources by 4.4% during the 4th quarter. Capricorn Fund Managers Ltd now owns 32,438 shares of the company’s stock worth $322,000 after buying an additional 1,359 shares during the last quarter. Hedge funds and other institutional investors own 9.63% of the company’s stock.

Ramaco Resources Stock Performance

Shares of METCB traded down $0.23 during mid-day trading on Monday, hitting $8.59. 70,793 shares of the company’s stock were exchanged, compared to its average volume of 45,204,143. The stock’s 50-day moving average is $9.08 and its 200-day moving average is $9.92. The company has a market cap of $451.22 million, a price-to-earnings ratio of 25.26 and a beta of 0.92. Ramaco Resources has a fifty-two week low of $0.00 and a fifty-two week high of $9.55.

Ramaco Resources (NASDAQ:METCB) last issued its quarterly earnings results on Monday, March 10th. The company reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $170.89 million during the quarter.

Ramaco Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.1971 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.79 dividend on an annualized basis and a yield of 9.18%. Ramaco Resources’s dividend payout ratio is currently 229.41%.

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.