Ramaco Resources (NASDAQ:METCB) Announces Quarterly Earnings Results

Ramaco Resources (NASDAQ:METCB) released its quarterly earnings data on Wednesday. The company reported $0.08 EPS for the quarter, reports. The business had revenue of $155.32 million during the quarter.

Ramaco Resources Stock Up 3.9 %

Shares of METCB stock opened at $10.75 on Friday. The stock has a 50 day simple moving average of $10.96 and a 200-day simple moving average of $11.56. Ramaco Resources has a 1-year low of $9.68 and a 1-year high of $17.90.

Ramaco Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st were given a dividend of $0.2376 per share. The ex-dividend date was Friday, May 31st. This represents a $0.95 dividend on an annualized basis and a yield of 8.84%.

Institutional Investors Weigh In On Ramaco Resources

Several large investors have recently bought and sold shares of the company. Acuitas Investments LLC grew its holdings in shares of Ramaco Resources by 4.0% in the fourth quarter. Acuitas Investments LLC now owns 186,097 shares of the company’s stock valued at $2,477,000 after purchasing an additional 7,204 shares during the period. Global Trust Asset Management LLC raised its position in shares of Ramaco Resources by 1,237.6% during the 1st quarter. Global Trust Asset Management LLC now owns 14,647 shares of the company’s stock valued at $184,000 after buying an additional 13,552 shares during the period. Wedge Capital Management L L P NC grew its position in Ramaco Resources by 25.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 61,322 shares of the company’s stock worth $816,000 after acquiring an additional 12,320 shares during the period. Corsair Capital Management L.P. grew its position in Ramaco Resources by 11.7% in the fourth quarter. Corsair Capital Management L.P. now owns 79,573 shares of the company’s stock worth $1,059,000 after acquiring an additional 8,328 shares during the period. Finally, American Century Companies Inc. increased its stake in Ramaco Resources by 10.3% during the second quarter. American Century Companies Inc. now owns 129,040 shares of the company’s stock worth $1,401,000 after acquiring an additional 11,997 shares during the last quarter. 9.63% of the stock is currently owned by hedge funds and other 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.