Ramaco Resources (NASDAQ:METCB) Shares Up 3.5%

Ramaco Resources, Inc. (NASDAQ:METCB)’s share price shot up 3.5% during trading on Tuesday . The company traded as high as $11.58 and last traded at $11.58. 3,923 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 30,582 shares. The stock had previously closed at $11.19.

Ramaco Resources Stock Up 0.2 %

The company has a 50 day simple moving average of $12.12 and a 200-day simple moving average of $12.81.

Ramaco Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.2416 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 8.62%. The ex-dividend date was Thursday, February 29th.

Institutional Investors Weigh In On Ramaco Resources

Several institutional investors have recently bought and sold shares of the stock. Northern Trust Corp grew its holdings in Ramaco Resources by 5.6% during the third quarter. Northern Trust Corp now owns 43,665 shares of the company’s stock worth $521,000 after buying an additional 2,324 shares in the last quarter. MetLife Investment Management LLC bought a new position in Ramaco Resources in the 2nd quarter valued at $25,000. Nuveen Asset Management LLC grew its stake in Ramaco Resources by 23.8% in the 4th quarter. Nuveen Asset Management LLC now owns 12,595 shares of the company’s stock valued at $168,000 after purchasing an additional 2,425 shares during the period. JPMorgan Chase & Co. bought a new position in Ramaco Resources in the 2nd quarter valued at $38,000. Finally, California State Teachers Retirement System bought a new position in Ramaco Resources in the 2nd quarter valued at $56,000. 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.