Ramaco Resources (NASDAQ:METCB) Shares Gap Down – What’s Next?

Ramaco Resources, Inc. (NASDAQ:METCB) shares gapped down prior to trading on Friday . The stock had previously closed at $9.76, but opened at $9.56. Ramaco Resources shares last traded at $9.52, with a volume of 2,231 shares traded.

Ramaco Resources Stock Performance

The business has a 50 day moving average of $10.25 and a 200-day moving average of $10.60.

Ramaco Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.2364 dividend. This is an increase from Ramaco Resources’s previous quarterly dividend of $0.22. This represents a $0.95 dividend on an annualized basis and a yield of 9.90%. The ex-dividend date was Monday, December 2nd.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. American Century Companies Inc. grew its stake in shares of 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 buying an additional 11,997 shares during the last quarter. Renaissance Technologies LLC lifted its position in 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 last quarter. JPMorgan Chase & Co. grew its holdings in shares of 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 purchasing an additional 6,103 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Ramaco Resources by 321.3% in the third 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 period. 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.