Comerica Bank Purchases 53,483 Shares of Ramaco Resources, Inc. (NASDAQ:METCB)

Comerica Bank grew its holdings in shares of Ramaco Resources, Inc. (NASDAQ:METCB) by 271.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,197 shares of the company’s stock after purchasing an additional 53,483 shares during the period. Comerica Bank owned about 0.14% of Ramaco Resources worth $723,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. State of Tennessee Department of Treasury increased its stake in Ramaco Resources by 39.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 24,458 shares of the company’s stock valued at $242,000 after acquiring an additional 6,927 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Ramaco Resources by 48.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 76,718 shares of the company’s stock worth $758,000 after acquiring an additional 25,084 shares in the last quarter. Barclays PLC lifted its holdings in shares of 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 acquiring an additional 1,388 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Ramaco Resources by 620.7% in the 4th quarter. Wells Fargo & Company MN now owns 11,099 shares of the company’s stock valued at $110,000 after purchasing an additional 9,559 shares in the last quarter. Finally, Discovery Capital Management LLC CT bought a new position in Ramaco Resources in the 4th quarter valued at approximately $106,000. 9.63% of the stock is owned by institutional investors.

Ramaco Resources Price Performance

Shares of Ramaco Resources stock opened at $8.51 on Wednesday. The company’s 50 day moving average price is $7.99 and its two-hundred day moving average price is $9.11. The firm has a market capitalization of $459.54 million, a P/E ratio of -94.56 and a beta of 1.03. Ramaco Resources, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $11.60.

Ramaco Resources (NASDAQ:METCB) last issued its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter. The business had revenue of $134.66 million during the quarter.

Ramaco Resources Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.1811 per share. The ex-dividend date is Friday, May 30th. Ramaco Resources’s payout ratio is -800.00%.

Ramaco Resources 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.