Ramaco Resources (NASDAQ:METCB) Shares Gap Up – What’s Next?

Posted by Jared Coughlin on Nov 15th, 2024

Ramaco Resources, Inc. (NASDAQ:METCB – Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $10.57, but opened at $11.07. Ramaco Resources shares last traded at $11.07, with a volume of 400 shares.

Ramaco Resources Stock Down 1.7 %

The firm has a fifty day simple moving average of $10.49 and a two-hundred day simple moving average of $10.85.

Ramaco Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.2246 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 8.45%. The ex-dividend date of this dividend was Friday, August 30th.

Institutional Trading of Ramaco Resources

A hedge fund recently raised its stake in Ramaco Resources stock. Renaissance Technologies LLC lifted its position in Ramaco Resources, Inc. (NASDAQ:METCB – Free Report) by 17.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,900 shares of the company’s stock after buying an additional 9,696 shares during the quarter. Renaissance Technologies LLC owned approximately 0.12% of Ramaco Resources worth $716,000 at the end of the most recent reporting period. 9.63% of the stock is currently owned by institutional investors.

Ramaco Resources Company Profile

(Get Free Report)

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.