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

Shares of Ramaco Resources, Inc. (NASDAQ:METCB) gapped down prior to trading 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 trading hands.

Ramaco Resources Price Performance

The company has a 50-day moving average price of $9.96 and a 200-day moving average price of $10.47.

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

Ramaco Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.2364 dividend. The ex-dividend date was Monday, December 2nd. This is a positive change from Ramaco Resources’s previous quarterly dividend of $0.22. This represents a $0.95 annualized dividend and a yield of 10.05%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in shares of Ramaco Resources by 321.3% during the third 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 period. JPMorgan Chase & Co. raised its position in Ramaco Resources by 191.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,284 shares of the company’s stock valued at $100,000 after buying an additional 6,103 shares during the last quarter. Capricorn Fund Managers Ltd lifted its position in shares of Ramaco Resources by 4.4% in the fourth quarter. Capricorn Fund Managers Ltd now owns 32,438 shares of the company’s stock worth $322,000 after purchasing an additional 1,359 shares in the last quarter. Renaissance Technologies LLC boosted its stake 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 worth $716,000 after buying an additional 9,696 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Ramaco Resources by 10.3% in the second 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. 9.63% of the stock is currently owned by institutional investors.

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.