Ramaco Resources (NASDAQ:METCB) Shares Gap Up Following Dividend Announcement

Ramaco Resources, Inc. (NASDAQ:METCB) shares gapped up before the market opened on Friday after the company announced a dividend. The stock had previously closed at $9.86, but opened at $10.35. Ramaco Resources shares last traded at $10.00, with a volume of 6,546 shares traded.

The newly announced dividend which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.2364 per share. This represents a $0.95 annualized dividend and a yield of 9.34%. This is a positive change from Ramaco Resources’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, December 2nd.

Ramaco Resources Stock Performance

The company has a 50 day simple moving average of $10.53 and a two-hundred day simple moving average of $10.81.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Barclays PLC grew its holdings in Ramaco Resources by 321.3% during the third quarter. Barclays PLC now owns 7,184 shares of the company’s stock valued at $77,000 after purchasing an additional 5,479 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Ramaco Resources by 17.3% during the second 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 during the period. Finally, American Century Companies Inc. boosted its holdings 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. 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.