Ramaco Resources, Inc. (NASDAQ:METCB) Sees Large Growth in Short Interest

Ramaco Resources, Inc. (NASDAQ:METCB - Get Free Report) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 69,900 shares, a growth of 37.1% from the December 15th total of 51,000 shares. Based on an average daily trading volume, of 35,800 shares, the short-interest ratio is currently 2.0 days. Approximately 1.4% of the company's shares are sold short.

Ramaco Resources Stock Performance

Ramaco Resources stock traded up $0.04 during trading hours on Friday, reaching $9.11. 26,599 shares of the company's stock traded hands, compared to its average volume of 31,354. Ramaco Resources has a fifty-two week low of $8.83 and a fifty-two week high of $13.33. The firm's 50 day moving average is $9.99 and its 200-day moving average is $10.49.

Ramaco Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.2364 dividend. The ex-dividend date was Monday, December 2nd. This is a boost from Ramaco Resources's previous quarterly dividend of $0.22. This represents a $0.95 dividend on an annualized basis and a yield of 10.38%.

Institutional Investors Weigh In On Ramaco Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC increased its stake in Ramaco Resources by 395.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 205,270 shares of the company's stock valued at $2,028,000 after purchasing an additional 163,828 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of 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 period. Renaissance Technologies LLC grew its holdings 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 buying an additional 9,696 shares during the period. Capricorn Fund Managers Ltd increased its position in shares of Ramaco Resources by 4.4% in the 4th quarter. Capricorn Fund Managers Ltd now owns 32,438 shares of the company's stock valued at $322,000 after buying an additional 1,359 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Ramaco Resources by 191.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,284 shares of the company's stock worth $100,000 after buying an additional 6,103 shares during the period. Institutional investors own 9.63% of the company's stock.

About Ramaco Resources

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.