Ramaco Resources (NASDAQ:METCB) Shares Gap Down - What's Next?

Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $9.67, but opened at $9.43. Ramaco Resources shares last traded at $9.53, with a volume of 1,834 shares trading hands.

Ramaco Resources Stock Performance

The company's 50 day simple moving average is $9.91 and its two-hundred day simple moving average is $10.46.

Ramaco Resources (NASDAQ:METCB - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.03) EPS for the quarter. The company had revenue of $167.41 million during the quarter.

Ramaco Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.2364 dividend. The ex-dividend date was Monday, December 2nd. This is a positive change from Ramaco Resources's previous quarterly dividend of $0.22. This represents a $0.95 dividend on an annualized basis and a dividend yield of 10.33%.

Hedge Funds Weigh In On Ramaco Resources

A number of institutional investors have recently modified their holdings of the stock. Capricorn Fund Managers Ltd lifted its stake in shares of Ramaco Resources by 4.4% during the fourth quarter. Capricorn Fund Managers Ltd now owns 32,438 shares of the company's stock valued at $322,000 after acquiring an additional 1,359 shares during the period. Barclays PLC lifted its position in Ramaco Resources by 321.3% during the 3rd quarter. Barclays PLC now owns 7,184 shares of the company's stock valued at $77,000 after purchasing an additional 5,479 shares during the period. JPMorgan Chase & Co. lifted its position in Ramaco Resources by 191.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,284 shares of the company's stock valued at $100,000 after purchasing an additional 6,103 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Ramaco Resources by 17.3% in the 2nd quarter. Renaissance Technologies LLC now owns 65,900 shares of the company's stock valued at $716,000 after purchasing an additional 9,696 shares during the last quarter. Finally, American Century Companies Inc. grew its position 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 buying an additional 11,997 shares during the period. 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.