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

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

Several other brokerages have also recently weighed in on ARCH. Jefferies Financial Group raised shares of Arch Resources from a “hold” rating to a “buy” rating and lowered their price target for the company from $165.00 to $150.00 in a research report on Monday, January 6th. Piper Sandler raised shares of Arch Resources from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $165.00 to $150.00 in a research note on Monday, January 6th. Finally, Benchmark reaffirmed a “buy” rating and set 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 issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $167.17.

Arch Resources Stock Performance

Shares of NYSE ARCH opened at $134.83 on Thursday. The stock has a market cap of $2.44 billion, a PE ratio of 14.16 and a beta of 0.69. Arch Resources has a 12-month low of $116.44 and a 12-month high of $187.60. The company has a 50-day moving average of $146.93 and a 200 day moving average of $142.65.

Arch Resources (NYSE:ARCH) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($2.17). Arch Resources had a net margin of 6.69% and a return on equity of 13.22%. The company had revenue of $617.90 million during the quarter, compared to analysts’ expectations of $587.71 million. During the same quarter last year, the company earned $3.91 earnings per share. Arch Resources’s revenue for the quarter was down 17.0% on a year-over-year basis. On average, sell-side analysts forecast that Arch Resources will post 5.02 EPS for the current fiscal year.

Institutional Trading of Arch Resources

A number of institutional investors and hedge funds have recently bought and sold shares of ARCH. FMR LLC boosted its stake in shares of Arch Resources by 159.5% in the third quarter. FMR LLC now owns 657,654 shares of the energy company’s stock valued at $90,862,000 after purchasing an additional 404,249 shares during the period. Holocene Advisors LP lifted its holdings in Arch Resources by 422.4% during the 3rd quarter. Holocene Advisors LP now owns 250,349 shares of the energy company’s stock worth $34,588,000 after buying an additional 202,425 shares in the last quarter. Trium Capital LLP purchased a new position in Arch Resources in the 4th quarter valued at approximately $21,109,000. Point72 Asset Management L.P. acquired a new position in shares of Arch Resources in the third quarter worth $9,828,000. Finally, Alpine Associates Management Inc. purchased a new stake in shares of Arch Resources during the third quarter worth $8,404,000. 88.14% of the stock is currently owned by hedge funds and other institutional investors.

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.