Ramaco Resources (METC) Shares Drop After Planned Distribution

By Philip Seaworth • Friday, September 04 13:01 • Permanent Link

Ramaco Resources said its Class A stock’s drop on Sept. 3 was linked to a planned distribution of about 1 million shares by Yorktown Energy Partners, one of the company’s larger institutional holders.

The company said it was notified on Sept. 2 that Yorktown would distribute the shares to its limited partners, and Ramaco believes that move helped drive the negative trading activity the next day.

Ramaco did not report any operating or financial results in the statement. As a result of these announcements, the company's shares have moved 7.69% on the market, and are now trading at a price of $13.30. For more information, read the company's full 8-K submission here.

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