Ramaco Resources, Inc. (NASDAQ:METCB) Short Interest Update

Ramaco Resources, Inc. (NASDAQ:METCB) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 171,800 shares, a growth of 96.1% from the May 15th total of 87,600 shares. Based on an average trading volume of 56,700 shares, the days-to-cover ratio is currently 3.0 days. Approximately 2.9% of the company’s stock are short sold.

Ramaco Resources Price Performance

Ramaco Resources stock traded up $0.07 during trading hours on Monday, reaching $7.53. The stock had a trading volume of 51,466 shares, compared to its average volume of 37,192. Ramaco Resources has a 52 week low of $6.01 and a 52 week high of $11.60. The company has a market cap of $411.65 million, a price-to-earnings ratio of -83.61 and a beta of 0.69. The business’s 50 day moving average price is $8.02 and its 200-day moving average price is $8.68.

Ramaco Resources (NASDAQ:METCB) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter. The business had revenue of $134.66 million during the quarter.

Ramaco Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.1811 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.72 annualized dividend and a dividend yield of 9.63%. Ramaco Resources’s dividend payout ratio (DPR) is presently -800.00%.

Institutional Investors Weigh In On Ramaco Resources

A number of institutional investors have recently modified their holdings of the business. Comerica Bank increased its holdings in shares of Ramaco Resources by 271.3% in the fourth quarter. Comerica Bank now owns 73,197 shares of the company’s stock valued at $723,000 after purchasing an additional 53,483 shares during the last quarter. American Century Companies Inc. grew its holdings in Ramaco Resources by 20.6% in the 4th quarter. American Century Companies Inc. now owns 174,701 shares of the company’s stock valued at $1,726,000 after buying an additional 29,811 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Ramaco Resources by 48.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 76,718 shares of the company’s stock worth $758,000 after acquiring an additional 25,084 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of Ramaco Resources during the 1st quarter worth $166,000. Finally, Wellington Management Group LLP raised its holdings in shares of Ramaco Resources by 145.3% during the 1st quarter. Wellington Management Group LLP now owns 36,176 shares of the company’s stock worth $257,000 after acquiring an additional 21,430 shares during the period. 9.63% of the stock is currently 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.