Short Interest in Ramaco Resources, Inc. (NASDAQ:METCB) Rises By 44.7%

Ramaco Resources, Inc. (NASDAQ:METCB) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 115,000 shares, an increase of 44.7% from the February 13th total of 79,500 shares. Based on an average daily volume of 42,200 shares, the days-to-cover ratio is currently 2.7 days. Currently, 2.3% of the company’s shares are short sold.

Ramaco Resources Price Performance

METCB opened at $8.82 on Friday. Ramaco Resources has a fifty-two week low of $8.31 and a fifty-two week high of $12.75. The company’s 50-day moving average is $9.08 and its 200 day moving average is $9.93. The firm has a market capitalization of $463.31 million, a P/E ratio of 25.94 and a beta of 0.92.

Ramaco Resources (NASDAQ:METCB) last released its quarterly earnings results on Monday, March 10th. The company reported $0.06 EPS for the quarter. The firm had revenue of $170.89 million for the quarter.

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.1971 dividend. This represents a $0.79 annualized dividend and a dividend yield of 8.94%. The ex-dividend date of this dividend was Friday, February 28th. Ramaco Resources’s dividend payout ratio is currently 229.41%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capricorn Fund Managers Ltd lifted its holdings in Ramaco Resources by 4.4% in the 4th quarter. Capricorn Fund Managers Ltd now owns 32,438 shares of the company’s stock worth $322,000 after purchasing an additional 1,359 shares in the last quarter. Barclays PLC lifted its stake in Ramaco Resources by 19.3% in the fourth quarter. Barclays PLC now owns 8,572 shares of the company’s stock worth $85,000 after purchasing an additional 1,388 shares during the last quarter. South Dakota Investment Council boosted its holdings in Ramaco Resources by 2.4% during the 4th quarter. South Dakota Investment Council now owns 92,402 shares of the company’s stock valued at $913,000 after acquiring an additional 2,140 shares during the period. Bank of New York Mellon Corp boosted its position in Ramaco Resources by 11.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,780 shares of the company’s stock valued at $235,000 after buying an additional 2,458 shares during the period. Finally, Bank of America Corp DE increased its holdings in Ramaco Resources by 64.6% during the 4th quarter. Bank of America Corp DE now owns 12,516 shares of the company’s stock worth $124,000 after purchasing an additional 4,914 shares during the period. Institutional investors own 9.63% of the company’s stock.

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.