Ramaco Resources (NASDAQ:METCB) Shares Gap Down – Here’s Why

Ramaco Resources, Inc. (NASDAQ:METCB) gapped down before the market opened on Tuesday . The stock had previously closed at $10.79, but opened at $10.54. Ramaco Resources shares last traded at $10.54, with a volume of 353 shares traded.

Ramaco Resources Trading Down 1.3 %

The company’s 50-day moving average is $10.68 and its 200-day moving average is $10.97.

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

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.2246 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.90 annualized dividend and a dividend yield of 8.64%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ramaco Resources stock. American Century Companies Inc. raised its holdings in Ramaco Resources, Inc. (NASDAQ:METCB) by 10.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 129,040 shares of the company’s stock after purchasing an additional 11,997 shares during the period. American Century Companies Inc. owned approximately 0.24% of Ramaco Resources worth $1,401,000 at the end of the most recent quarter. 9.63% of the stock is owned by institutional investors.

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.