StockNews.com Initiates Coverage on Arch Resources (NYSE:ARCH)

Investment analysts at StockNews.com initiated coverage on shares of Arch Resources (NYSE:ARCH) in a research report issued on Tuesday. The brokerage set a “hold” rating on the energy company’s stock.

Several other research analysts also recently weighed in on the stock. Benchmark restated a “buy” rating and set a $180.00 price target on shares of Arch Resources in a research report on Monday, November 18th. Piper Sandler upgraded Arch Resources from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $165.00 to $150.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group upgraded Arch Resources from a “hold” rating to a “buy” rating and dropped their price target for the stock from $165.00 to $150.00 in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $167.17.

Arch Resources Price Performance

Arch Resources stock opened at $134.83 on Tuesday. The stock has a market capitalization of $2.44 billion, a PE ratio of 14.16 and a beta of 0.69. The business has a 50 day simple moving average of $154.73 and a 200-day simple moving average of $144.79. Arch Resources has a 12 month low of $116.44 and a 12 month high of $187.60.

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

Hedge Funds Weigh In On Arch Resources

A number of institutional investors have recently added to or reduced their stakes in ARCH. Envestnet Asset Management Inc. acquired a new stake in shares of Arch Resources in the 2nd quarter worth $8,700,000. WINTON GROUP Ltd grew its holdings in shares of Arch Resources by 9.9% in the second quarter. WINTON GROUP Ltd now owns 6,024 shares of the energy company’s stock valued at $917,000 after purchasing an additional 543 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Arch Resources by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 973,208 shares of the energy company’s stock valued at $148,146,000 after purchasing an additional 58,821 shares during the period. Denali Advisors LLC increased its position in Arch Resources by 36.4% during the second quarter. Denali Advisors LLC now owns 20,600 shares of the energy company’s stock worth $3,136,000 after purchasing an additional 5,500 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in Arch Resources by 6.5% during the second quarter. Hsbc Holdings PLC now owns 2,250 shares of the energy company’s stock worth $343,000 after purchasing an additional 137 shares during the period. Hedge funds and other 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.