Ramaco Resources, Inc. (NASDAQ:METCB) Short Interest Up 48.6% in August

Ramaco Resources, Inc. (NASDAQ:METCB) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 51,700 shares, a growth of 48.6% from the August 15th total of 34,800 shares. Based on an average daily volume of 22,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 1.0% of the shares of the stock are short sold.

Ramaco Resources Price Performance

Shares of NASDAQ METCB traded down $0.05 during trading on Monday, hitting $9.83. The company had a trading volume of 42,258 shares, compared to its average volume of 25,636. Ramaco Resources has a 52 week low of $9.42 and a 52 week high of $17.90. The business’s 50-day moving average is $10.93 and its 200 day moving average is $11.29.

Ramaco Resources (NASDAQ:METCB) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.08 earnings per share for the quarter. The firm had revenue of $155.32 million for the quarter.

Ramaco Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.2246 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 9.14%. The ex-dividend date of this dividend was Friday, August 30th.

Hedge Funds Weigh In On Ramaco Resources

Several institutional investors have recently bought and sold shares of METCB. American Century Companies Inc. lifted its holdings in shares of Ramaco Resources by 10.3% during the 2nd quarter. American Century Companies Inc. now owns 129,040 shares of the company’s stock worth $1,401,000 after acquiring an additional 11,997 shares during the period. Corsair Capital Management L.P. raised its position in shares of Ramaco Resources by 11.7% during 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 during the last quarter. Renaissance Technologies LLC raised its holdings in Ramaco Resources by 17.3% during 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 during the last quarter. Finally, Global Trust Asset Management LLC lifted its position in shares of 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 purchasing an additional 13,552 shares during the period. 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.