Ramaco Resources (NASDAQ:METCB) Reaches New 52-Week Low – What’s Next?

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

Ramaco Resources Stock Down 7.4 %

The company’s fifty day simple moving average is $10.41 and its 200 day simple moving average is $10.68.

Ramaco Resources Increases Dividend

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

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC grew its stake in shares of Ramaco Resources by 321.3% in 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 last quarter. Renaissance Technologies LLC boosted its stake in Ramaco Resources by 17.3% in the 2nd quarter. Renaissance Technologies LLC now owns 65,900 shares of the company’s stock worth $716,000 after purchasing an additional 9,696 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Ramaco Resources by 10.3% during the 2nd 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 during the last quarter. Institutional investors own 9.63% of the company’s stock.

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.