Ramaco Resources (NASDAQ:METCB) Shares Gap Up – Time to Buy?

Ramaco Resources, Inc. (NASDAQ:METCB)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $10.57, but opened at $11.07. Ramaco Resources shares last traded at $11.07, with a volume of 400 shares traded.

Ramaco Resources Stock Up 0.7 %

The business’s fifty day moving average price is $10.49 and its 200 day moving average price is $10.85.

Ramaco Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.2246 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.90 dividend on an annualized basis and a yield of 8.44%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Ramaco Resources stock. American Century Companies Inc. increased its holdings in shares of Ramaco Resources, Inc. (NASDAQ:METCB) by 10.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,040 shares of the company’s stock after acquiring an additional 11,997 shares during the period. American Century Companies Inc. owned approximately 0.24% of Ramaco Resources worth $1,401,000 as of its most recent SEC filing. 9.63% of the stock is currently owned by institutional investors and hedge funds.

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.