Arch Resources, Inc. (NYSE:ARCH) Sees Significant Drop in Short Interest

Arch Resources, Inc. (NYSE:ARCH) saw a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 1,080,000 shares, a decrease of 6.1% from the May 31st total of 1,150,000 shares. Based on an average trading volume of 321,500 shares, the days-to-cover ratio is currently 3.4 days.

Arch Resources Price Performance

Shares of ARCH stock opened at $166.47 on Thursday. Arch Resources has a twelve month low of $108.25 and a twelve month high of $187.60. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 9.79 and a beta of 0.64. The stock has a fifty day simple moving average of $161.96 and a two-hundred day simple moving average of $165.62. The company has a current ratio of 2.64, a quick ratio of 1.89 and a debt-to-equity ratio of 0.07.

Arch Resources (NYSE:ARCH) last issued its quarterly earnings data on Monday, April 29th. The energy company reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.19. The firm had revenue of $680.19 million during the quarter, compared to analysts’ expectations of $596.52 million. Arch Resources had a return on equity of 22.32% and a net margin of 10.89%. The firm’s quarterly revenue was down 21.8% on a year-over-year basis. During the same period in the prior year, the business posted $10.02 EPS. On average, analysts predict that Arch Resources will post 12.82 EPS for the current fiscal year.

Arch Resources Cuts Dividend

The business also recently disclosed a None dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a dividend of $1.11 per share. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, May 31st. Arch Resources’s dividend payout ratio (DPR) is currently 5.88%.

Wall Street Analyst Weigh In

Several equities analysts have commented on ARCH shares. Citigroup reaffirmed a “neutral” rating and issued a $170.00 price objective (down previously from $185.00) on shares of Arch Resources in a research report on Thursday, April 18th. B. Riley cut their price objective on Arch Resources from $198.00 to $193.00 and set a “buy” rating on the stock in a research report on Monday, April 15th. BMO Capital Markets reiterated a “market perform” rating and issued a $165.00 target price (down from $180.00) on shares of Arch Resources in a report on Wednesday, April 10th. Benchmark reiterated a “buy” rating and issued a $180.00 target price on shares of Arch Resources in a report on Monday, April 22nd. Finally, StockNews.com cut Arch Resources from a “buy” rating to a “hold” rating in a 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’s stock. According to data from MarketBeat, Arch Resources presently has a consensus rating of “Hold” and a consensus price target of $177.00.

Institutional Investors Weigh In On Arch Resources

A number of hedge funds have recently made changes to their positions in ARCH. Goldman Sachs Group Inc. raised its stake in Arch Resources by 9.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 182,870 shares of the energy company’s stock valued at $30,345,000 after buying an additional 16,273 shares during the last quarter. Swiss National Bank purchased a new stake in Arch Resources in the fourth quarter valued at about $5,642,000. Vanguard Group Inc. raised its stake in Arch Resources by 11.9% in the fourth quarter. Vanguard Group Inc. now owns 2,061,209 shares of the energy company’s stock valued at $342,037,000 after buying an additional 219,094 shares during the last quarter. Crestline Management LP raised its stake in Arch Resources by 49.6% in the fourth quarter. Crestline Management LP now owns 44,296 shares of the energy company’s stock valued at $7,350,000 after buying an additional 14,696 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Arch Resources by 137.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 29,820 shares of the energy company’s stock valued at $4,795,000 after buying an additional 17,270 shares during the last quarter. 88.14% of the stock is currently owned by hedge funds and other institutional investors.

Arch Resources Company Profile

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.