Ramaco Resources (NASDAQ:METCB) Sees Large Volume Increase

Shares of Ramaco Resources, Inc. (NASDAQ:METCB) saw an uptick in trading volume on Thursday . 69,302 shares were traded during trading, an increase of 137% from the previous session’s volume of 29,201 shares.The stock last traded at $11.40 and had previously closed at $12.49.

Ramaco Resources Trading Down 6.6 %

The firm’s fifty day simple moving average is $11.92 and its two-hundred day simple moving average is $12.76.

Ramaco Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.2416 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.97 dividend on an annualized basis and a yield of 8.29%.

Institutional Investors Weigh In On Ramaco Resources

A number of institutional investors have recently added to or reduced their stakes in METCB. Global Trust Asset Management LLC increased its stake in Ramaco Resources by 1,237.6% in the 1st quarter. Global Trust Asset Management LLC now owns 14,647 shares of the company’s stock worth $184,000 after acquiring an additional 13,552 shares during the last quarter. Pekin Hardy Strauss Inc. purchased a new position in shares of Ramaco Resources in the 3rd quarter worth $611,000. Meixler Investment Management Ltd. purchased a new stake in shares of Ramaco Resources during the 3rd quarter valued at about $616,000. Wedge Capital Management L L P NC lifted 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 acquiring an additional 12,320 shares during the last quarter. Finally, Corsair Capital Management L.P. grew its position in Ramaco Resources by 11.7% in the fourth quarter. Corsair Capital Management L.P. now owns 79,573 shares of the company’s stock worth $1,059,000 after acquiring an additional 8,328 shares in the last quarter. 9.63% of the stock is owned by hedge funds and other 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.