Ramaco Resources (NASDAQ:METCB) Shares Down 6.7% – What’s Next?

Shares of Ramaco Resources, Inc. (NASDAQ:METCB) dropped 6.7% on Thursday . The company traded as low as $10.30 and last traded at $10.30. Approximately 22,446 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 25,434 shares. The stock had previously closed at $11.04.

Ramaco Resources Stock Down 1.3 %

The company has a fifty day moving average of $10.52 and a two-hundred day moving average of $10.74.

Ramaco Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.2364 dividend. This represents a $0.95 dividend on an annualized basis and a dividend yield of 9.42%. This is a boost from Ramaco Resources’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, December 2nd.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds have recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in shares of Ramaco Resources by 10.3% during the second quarter. American Century Companies Inc. now owns 129,040 shares of the company’s stock worth $1,401,000 after buying an additional 11,997 shares during the last quarter. Renaissance Technologies LLC increased its position in Ramaco Resources by 17.3% during the second quarter. Renaissance Technologies LLC now owns 65,900 shares of the company’s stock worth $716,000 after acquiring an additional 9,696 shares during the period. Finally, Barclays PLC increased its position in 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. 9.63% of the stock is currently owned by institutional investors.

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.