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

Ramaco Resources, Inc. (NASDAQ:METCB) shares gapped up prior to trading 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. Shareholders of record on Monday, December 2nd will be paid a $0.2364 dividend. This represents a $0.95 annualized dividend and a yield of 9.74%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Ramaco Resources’s previous quarterly dividend of $0.22.

Ramaco Resources Price Performance

The firm’s 50-day moving average is $10.54 and its 200 day moving average is $10.83.

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors have recently bought and sold shares of the company. Barclays PLC increased its position in 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 purchasing an additional 5,479 shares during the period. Renaissance Technologies LLC lifted its holdings 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 acquiring an additional 9,696 shares during the period. Finally, American Century Companies Inc. boosted its position 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 worth $1,401,000 after purchasing an additional 11,997 shares in the last quarter. 9.63% of the stock is owned by institutional investors and hedge funds.

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.