Short Interest in Ramaco Resources, Inc. (NASDAQ:METCB) Grows By 37.1%

Ramaco Resources, Inc. (NASDAQ:METCB) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 69,900 shares, an increase of 37.1% from the December 15th total of 51,000 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average trading volume of 35,800 shares, the short-interest ratio is presently 2.0 days.

Ramaco Resources Price Performance

METCB traded down $0.18 during midday trading on Thursday, reaching $9.23. 12,857 shares of the company were exchanged, compared to its average volume of 30,868. Ramaco Resources has a one year low of $8.83 and a one year high of $13.33. The stock’s 50-day simple moving average is $10.06 and its 200 day simple moving average is $10.51.

Ramaco Resources Increases Dividend

The business also recently announced 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. The ex-dividend date was Monday, December 2nd. This represents a $0.95 dividend on an annualized basis and a yield of 10.24%. This is a boost from Ramaco Resources’s previous quarterly dividend of $0.22.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC lifted its holdings 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 valued at $2,028,000 after purchasing an additional 163,828 shares in the last quarter. JPMorgan Chase & Co. lifted 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 valued at $100,000 after purchasing an additional 6,103 shares in the last quarter. Barclays PLC lifted its holdings in shares of Ramaco Resources by 321.3% during the 3rd quarter. Barclays PLC now owns 7,184 shares of the company’s stock valued at $77,000 after purchasing an additional 5,479 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Ramaco Resources by 17.3% during the 2nd 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 in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Ramaco Resources by 10.3% during the 2nd quarter. American Century Companies Inc. now owns 129,040 shares of the company’s stock valued at $1,401,000 after purchasing an additional 11,997 shares in the last quarter. Institutional investors own 9.63% of the company’s stock.

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.