StockNews.com initiated coverage on shares of Arch Resources (NYSE:ARCH – Get Free Report) in a report issued on Monday. The brokerage set a “hold” rating on the energy company’s stock.
Other equities analysts also recently issued research reports about the company. Benchmark reissued a “buy” rating and set a $180.00 target price on shares of Arch Resources in a research report on Friday, July 26th. B. Riley cut their target price on Arch Resources from $198.00 to $188.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Arch Resources has an average rating of “Hold” and a consensus price target of $175.75.
Check Out Our Latest Stock Analysis on Arch Resources
Arch Resources Stock Up 2.8 %
Arch Resources (NYSE:ARCH – Get Free Report) last released its earnings results on Thursday, July 25th. The energy company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.50). The company had revenue of $608.75 million for the quarter, compared to the consensus estimate of $562.23 million. Arch Resources had a net margin of 9.24% and a return on equity of 17.91%. The business’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.04 EPS. As a group, equities analysts expect that Arch Resources will post 10.73 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Arch Resources
Several hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new position in Arch Resources in the 2nd quarter valued at $381,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Arch Resources by 64.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 6,250 shares of the energy company’s stock worth $951,000 after buying an additional 2,450 shares during the period. Creative Planning lifted its holdings in shares of Arch Resources by 59.8% in the 2nd quarter. Creative Planning now owns 2,712 shares of the energy company’s stock worth $413,000 after buying an additional 1,015 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Arch Resources in the 2nd quarter worth $218,000. Finally, Maverick Capital Ltd. purchased a new stake in shares of Arch Resources in the 2nd quarter worth $957,000. Institutional investors own 88.14% of the company’s stock.
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.
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