Arch Resources (NYSE:ARCH) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Arch Resources (NYSE:ARCH) in a research note issued to investors on Tuesday. The brokerage issued a hold rating on the energy company’s stock.

ARCH has been the topic of several other research reports. Jefferies Financial Group raised Arch Resources from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $165.00 to $150.00 in a research note on Monday, January 6th. Piper Sandler raised shares of Arch Resources from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $165.00 to $150.00 in a report on Monday, January 6th. Finally, Benchmark reiterated a “buy” rating and issued a $180.00 price target on shares of Arch Resources in a research report on Monday, November 18th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Arch Resources presently has a consensus rating of “Moderate Buy” and an average target price of $167.17.

Arch Resources Stock Up 0.7 %

NYSE ARCH opened at $134.81 on Tuesday. The firm has a market capitalization of $2.44 billion, a P/E ratio of 14.16 and a beta of 0.69. The company has a 50-day moving average price of $154.73 and a 200-day moving average price of $144.79. Arch Resources has a 52 week low of $116.44 and a 52 week high of $187.60.

Arch Resources (NYSE:ARCH) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of $1.83 by ($2.17). The business had revenue of $617.90 million during the quarter, compared to the consensus estimate of $587.71 million. Arch Resources had a return on equity of 13.22% and a net margin of 6.69%. The firm’s revenue was down 17.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.91 earnings per share. As a group, equities research analysts anticipate that Arch Resources will post 5.86 EPS for the current year.

Arch Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Friday, November 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, November 15th. Arch Resources’s payout ratio is currently 10.50%.

Hedge Funds Weigh In On Arch Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in Arch Resources by 340.5% in the 4th quarter. GAMMA Investing LLC now owns 185 shares of the energy company’s stock valued at $26,000 after acquiring an additional 143 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Arch Resources during the third quarter valued at about $50,000. KBC Group NV increased its holdings in shares of Arch Resources by 43.3% in the third quarter. KBC Group NV now owns 569 shares of the energy company’s stock worth $79,000 after purchasing an additional 172 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Arch Resources by 191.1% in the third quarter. Blue Trust Inc. now owns 978 shares of the energy company’s stock worth $149,000 after buying an additional 642 shares in the last quarter. Finally, Westchester Capital Management LLC bought a new position in Arch Resources during the third quarter valued at approximately $157,000. Institutional investors own 88.14% of the company’s stock.

About Arch Resources

Arch Resources, Inc engages in the production and sale of metallurgical products. It operates in two segments, Metallurgical and Thermal. The company operates active mines. It owned or controlled primarily through long-term leases of coal land in Ohio, Maryland, Virginia, West Virginia, Wyoming, Kentucky, Montana, Pennsylvania, Colorado, and Illinois; and smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.