Arch Resources (NYSE:ARCH) Coverage Initiated at StockNews.com

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

A number of other analysts also recently issued reports on ARCH. Benchmark reissued a “buy” rating and issued a $180.00 target price on shares of Arch Resources in a research report on Monday, November 18th. Jefferies Financial Group raised shares of Arch Resources from a “hold” rating to a “buy” rating and decreased their price target for the stock from $165.00 to $150.00 in a research note on Monday, January 6th. Finally, Piper Sandler raised Arch Resources from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $165.00 to $150.00 in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $167.17.

Arch Resources Stock Performance

Shares of ARCH stock opened at $134.83 on Wednesday. Arch Resources has a 12 month low of $116.44 and a 12 month high of $187.60. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 14.16 and a beta of 0.69. The business’s 50-day moving average price is $152.04 and its 200-day moving average price is $143.87.

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 analysts’ consensus estimates of $1.83 by ($2.17). The firm had revenue of $617.90 million for the quarter, compared to the consensus estimate of $587.71 million. Arch Resources had a net margin of 6.69% and a return on equity of 13.22%. The business’s revenue was down 17.0% compared to the same quarter last year. During the same period last year, the company posted $3.91 EPS. On average, sell-side analysts predict that Arch Resources will post 5.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arch Resources

A number of large investors have recently made changes to their positions in ARCH. Envestnet Asset Management Inc. purchased a new position in shares of Arch Resources during the 2nd quarter worth $8,700,000. Hsbc Holdings PLC lifted its stake in Arch Resources by 6.5% during the 2nd quarter. Hsbc Holdings PLC now owns 2,250 shares of the energy company’s stock worth $343,000 after acquiring an additional 137 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Arch Resources in the second quarter valued at approximately $225,000. Public Sector Pension Investment Board raised its stake in shares of Arch Resources by 5.9% in the second quarter. Public Sector Pension Investment Board now owns 39,880 shares of the energy company’s stock valued at $6,071,000 after acquiring an additional 2,230 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Arch Resources by 7.5% in the 2nd quarter. Bank of Montreal Can now owns 3,111 shares of the energy company’s stock valued at $474,000 after buying an additional 217 shares during the period. 88.14% of the stock is owned by institutional investors and hedge funds.

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.