Ramaco Resources (NASDAQ:METCB) Sees Strong Trading Volume – Here’s Why

Shares of Ramaco Resources, Inc. (NASDAQ:METCB) saw an uptick in trading volume on Monday . 12,503 shares were traded during mid-day trading, a decline of 49% from the previous session’s volume of 24,618 shares.The stock last traded at $10.10 and had previously closed at $10.12.

Ramaco Resources Stock Performance

The firm has a 50 day simple moving average of $10.55 and a 200-day simple moving average of $10.78.

Ramaco Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.2364 dividend. This is an increase from Ramaco Resources’s previous quarterly dividend of $0.22. This represents a $0.95 annualized dividend and a dividend yield of 9.32%. The ex-dividend date of this dividend is Monday, December 2nd.

Institutional Trading of Ramaco Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC increased its holdings in shares of Ramaco Resources by 321.3% in the third quarter. Barclays PLC now owns 7,184 shares of the company’s stock valued at $77,000 after purchasing an additional 5,479 shares in the last quarter. Renaissance Technologies LLC lifted 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 buying an additional 9,696 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Ramaco Resources by 10.3% in the 2nd quarter. American Century Companies Inc. now owns 129,040 shares of the company’s stock valued at $1,401,000 after buying an additional 11,997 shares during the last quarter. 9.63% of the stock is currently owned by institutional investors and hedge funds.

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.