Ramaco Resources (NASDAQ:METCB) Trading Up 8.3%

Ramaco Resources, Inc. (NASDAQ:METCB)’s share price rose 8.3% during trading on Wednesday . The stock traded as high as $12.72 and last traded at $12.72. Approximately 18,300 shares changed hands during trading, a decline of 36% from the average daily volume of 28,604 shares. The stock had previously closed at $11.74.

Ramaco Resources Stock Performance

The business has a 50 day moving average of $11.91 and a 200 day moving average of $12.76.

Ramaco Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.2416 per share. This represents a $0.97 annualized dividend and a yield of 7.74%. The ex-dividend date of this dividend was Thursday, February 29th.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acuitas Investments LLC increased its position in shares of Ramaco Resources by 4.0% during the 4th quarter. Acuitas Investments LLC now owns 186,097 shares of the company’s stock worth $2,477,000 after purchasing an additional 7,204 shares during the last quarter. Corsair Capital Management L.P. increased its stake in shares of Ramaco Resources by 11.7% during the 4th quarter. Corsair Capital Management L.P. now owns 79,573 shares of the company’s stock worth $1,059,000 after purchasing an additional 8,328 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Ramaco Resources by 25.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 61,322 shares of the company’s stock valued at $816,000 after purchasing an additional 12,320 shares during the period. Meixler Investment Management Ltd. bought a new position in Ramaco Resources during the third quarter worth about $616,000. Finally, Pekin Hardy Strauss Inc. acquired a new position in Ramaco Resources during the third quarter worth approximately $611,000. 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.