Ramaco Resources (NASDAQ:METCB) Sees Unusually-High Trading Volume After Dividend Announcement

Ramaco Resources, Inc. (NASDAQ:METCBGet Free Report) shares saw strong trading volume on Tuesday after the company announced a dividend. 24,989 shares traded hands during mid-day trading, a decline of 40% from the previous session’s volume of 41,488 shares.The stock last traded at $10.85 and had previously closed at $10.71.

The newly announced dividend which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be paid a $0.2416 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 8.75%. The ex-dividend date of this dividend is Thursday, February 29th.

Ramaco Resources Trading Down 1.3 %

The company’s 50-day simple moving average is $13.24 and its 200 day simple moving average is $12.76.

Ramaco Resources (NASDAQ:METCBGet Free Report) last posted its earnings results on Tuesday, November 7th. The company reported $0.45 EPS for the quarter. The business had revenue of $186.97 million for the quarter.

Insider Activity

In other news, Director Bryan H. Lawrence sold 316,623 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $17.73, for a total value of $5,613,725.79. Following the sale, the director now directly owns 730,408 shares of the company’s stock, valued at $12,950,133.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Bryan H. Lawrence sold 44,276 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $18.19, for a total value of $805,380.44. Following the completion of the sale, the director now owns 737,932 shares in the company, valued at $13,422,983.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bryan H. Lawrence sold 316,623 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $17.73, for a total transaction of $5,613,725.79. Following the transaction, the director now owns 730,408 shares of the company’s stock, valued at approximately $12,950,133.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,626,787 shares of company stock valued at $27,908,729.

Institutional Investors Weigh In On Ramaco Resources

A number of hedge funds have recently made changes to their positions in the company. Yorktown Energy Partners IX L.P. bought a new stake in shares of Ramaco Resources during the second quarter valued at approximately $11,903,000. Yorktown Energy Partners XI L.P. bought a new stake in shares of Ramaco Resources during the second quarter valued at approximately $11,856,000. Yorktown Energy Partners X L.P. acquired a new position in Ramaco Resources in the second quarter valued at approximately $7,836,000. Vanguard Group Inc. lifted its holdings in Ramaco Resources by 46.3% in the third quarter. Vanguard Group Inc. now owns 355,771 shares of the company’s stock valued at $4,244,000 after buying an additional 112,647 shares during the period. Finally, BlackRock Inc. acquired a new position in Ramaco Resources in the second quarter valued at approximately $3,434,000. Institutional investors and hedge funds own 9.51% of the company’s stock.

Ramaco Resources Company Profile

(Get Free Report)

Ramaco Resources, Inc operates, develops, and sells metallurgical coal. Its development portfolio includes the Elk Creek project located in southern West Virginia; the Berwind property situated on the border of West Virginia and Virginia; the Knox Creek property is located in Virginia; and the RAM Mine property situated in southwestern Pennsylvania.

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