B. Riley Lowers Arch Resources (NYSE:ARCH) Price Target to $193.00

Arch Resources (NYSE:ARCH) had its target price lowered by B. Riley from $198.00 to $193.00 in a research note issued to investors on Monday morning, Benzinga reports. B. Riley currently has a buy rating on the energy company’s stock. B. Riley also issued estimates for Arch Resources’ Q1 2024 earnings at $2.79 EPS, Q2 2024 earnings at $1.57 EPS, Q3 2024 earnings at $4.12 EPS, Q4 2024 earnings at $4.17 EPS and FY2024 earnings at $12.65 EPS.

Several other brokerages also recently issued reports on ARCH. BMO Capital Markets reissued a market perform rating and set a $165.00 price objective (down from $180.00) on shares of Arch Resources in a research report on Wednesday, April 10th. Citigroup raised their price objective on shares of Arch Resources from $160.00 to $185.00 and gave the stock a buy rating in a research report on Thursday, April 11th. Finally, StockNews.com downgraded shares of Arch Resources from a buy rating to a hold rating in a research report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $177.00.

Arch Resources Trading Down 1.0 %

NYSE ARCH opened at $162.66 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.49 and a quick ratio of 1.83. The firm’s fifty day moving average price is $164.88 and its 200 day moving average price is $163.32. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 6.77 and a beta of 0.68. Arch Resources has a 12 month low of $102.42 and a 12 month high of $187.60.

Arch Resources (NYSE:ARCH) last posted its earnings results on Thursday, February 15th. The energy company reported $6.07 EPS for the quarter, missing analysts’ consensus estimates of $6.90 by ($0.83). The company had revenue of $774.00 million during the quarter, compared to analysts’ expectations of $704.53 million. Arch Resources had a net margin of 14.75% and a return on equity of 32.20%. The company’s quarterly revenue was down 9.9% on a year-over-year basis. During the same period last year, the business earned $23.18 earnings per share. On average, sell-side analysts expect that Arch Resources will post 16.73 earnings per share for the current fiscal year.

Arch Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Wednesday, February 28th. Arch Resources’s payout ratio is 4.16%.

Insider Activity

In other news, VP Paul T. Demzik sold 4,451 shares of Arch Resources stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $178.40, for a total value of $794,058.40. Following the sale, the vice president now owns 2,192 shares of the company’s stock, valued at $391,052.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP John A. Ziegler sold 148 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $172.33, for a total value of $25,504.84. Following the completion of the sale, the vice president now owns 23,232 shares in the company, valued at $4,003,570.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul T. Demzik sold 4,451 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $178.40, for a total transaction of $794,058.40. Following the completion of the sale, the vice president now owns 2,192 shares of the company’s stock, valued at approximately $391,052.80. The disclosure for this sale can be found here. Insiders have sold a total of 104,335 shares of company stock valued at $19,126,100 over the last quarter. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of Arch Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Maple Rock Capital Partners Inc. raised its position in Arch Resources by 15,612.6% during the first quarter. Maple Rock Capital Partners Inc. now owns 350,739 shares of the energy company’s stock worth $46,108,000 after acquiring an additional 353,000 shares during the last quarter. Vanguard Group Inc. raised its position in Arch Resources by 18.4% during the third quarter. Vanguard Group Inc. now owns 1,817,571 shares of the energy company’s stock worth $215,564,000 after acquiring an additional 282,345 shares during the last quarter. BlackRock Inc. raised its position in Arch Resources by 24.4% during the second quarter. BlackRock Inc. now owns 1,261,637 shares of the energy company’s stock worth $142,262,000 after acquiring an additional 247,238 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Arch Resources by 10,789.7% during the first quarter. Envestnet Asset Management Inc. now owns 248,939 shares of the energy company’s stock worth $48,000 after acquiring an additional 246,653 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Arch Resources by 1,196.2% during the third quarter. Victory Capital Management Inc. now owns 261,725 shares of the energy company’s stock worth $44,666,000 after acquiring an additional 241,534 shares during the last quarter. Institutional investors and hedge funds 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.