Ramaco Resources (NASDAQ:METCB) Reaches New 1-Year Low – Here’s Why

Shares of Ramaco Resources, Inc. (NASDAQ:METCB) reached a new 52-week low during mid-day trading on Saturday . The stock traded as low as $9.39 and last traded at $9.39, with a volume of 197889 shares trading hands. The stock had previously closed at $10.14.

Ramaco Resources Price Performance

The firm has a 50-day moving average of $10.41 and a 200-day moving average of $10.68.

Ramaco Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.2364 per share. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from Ramaco Resources’s previous quarterly dividend of $0.22. This represents a $0.95 annualized dividend and a dividend yield of 10.07%.

Hedge Funds Weigh In On Ramaco Resources

Hedge funds have recently bought and sold shares of the business. American Century Companies Inc. boosted its holdings in Ramaco Resources by 10.3% in the second 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 during 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 buying an additional 9,696 shares during the period. Finally, 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 buying an additional 5,479 shares during the period. Hedge funds and other institutional investors own 9.63% of the company’s stock.

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.