Ramaco Resources, Inc. (NASDAQ:METCB – Get Free Report) shares rose 3.3% during trading on Thursday after the company announced a dividend. The company traded as high as $12.76 and last traded at $12.76. Approximately 2,291 shares traded hands during trading, a decline of 97% from the average daily volume of 66,082 shares. The stock had previously closed at $12.35.
The newly announced dividend which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.2487 per share. This represents a $0.99 annualized dividend and a yield of 7.84%. The ex-dividend date is Thursday, November 30th.
Ramaco Resources Stock Performance
The firm has a 50 day simple moving average of $11.61.
Institutional Investors Weigh In On Ramaco Resources
Several hedge funds and other institutional investors have recently made changes to their positions in METCB. Yorktown Energy Partners IX L.P. bought a new stake in shares of Ramaco Resources in the second quarter valued at about $11,903,000. Yorktown Energy Partners XI L.P. bought a new stake in shares of Ramaco Resources in the second quarter valued at about $11,856,000. Yorktown Energy Partners X L.P. bought a new stake in shares of Ramaco Resources in the second quarter valued at about $7,836,000. BlackRock Inc. bought a new stake in shares of Ramaco Resources in the second quarter valued at about $3,434,000. Finally, Encompass Capital Advisors LLC bought a new stake in shares of Ramaco Resources in the second quarter valued at about $1,089,000. 9.51% of the stock is owned by institutional investors and hedge funds.
Ramaco Resources Company Profile
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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