Arch Resources (NYSE:ARCH) Price Target Cut to $193.00

Arch Resources (NYSE:ARCH) had its price objective cut by B. Riley from $198.00 to $193.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the energy company’s stock. B. Riley also issued estimates for Arch Resources’ Q1 2024 earnings at $2.79 EPS, Q2 2024 earnings at $1.57 EPS, Q3 2024 earnings at $4.12 EPS, Q4 2024 earnings at $4.17 EPS and FY2024 earnings at $12.65 EPS.

ARCH has been the subject of a number of other reports. Citigroup upped their price objective on Arch Resources from $160.00 to $185.00 and gave the stock a buy rating in a report on Thursday, April 11th. BMO Capital Markets reissued a market perform rating and issued a $165.00 target price (down previously from $180.00) on shares of Arch Resources in a research note on Wednesday, April 10th. Finally, StockNews.com lowered Arch Resources from a buy rating to a hold rating in a research note on Thursday, March 7th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $180.75.

Arch Resources Price Performance

ARCH opened at $164.31 on Monday. The stock has a 50-day moving average price of $165.05 and a 200-day moving average price of $163.32. Arch Resources has a 12-month low of $102.42 and a 12-month high of $187.60. The company has a current ratio of 2.49, a quick ratio of 1.83 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $3.00 billion, a P/E ratio of 6.83 and a beta of 0.68.

Arch Resources (NYSE:ARCH) last posted its quarterly earnings data on Thursday, February 15th. The energy company reported $6.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.90 by ($0.83). Arch Resources had a return on equity of 32.20% and a net margin of 14.75%. The firm had revenue of $774.00 million during the quarter, compared to analysts’ expectations of $704.53 million. During the same quarter in the previous year, the company posted $23.18 earnings per share. Arch Resources’s revenue for the quarter was down 9.9% compared to the same quarter last year. Equities analysts predict that Arch Resources will post 19.22 earnings per share for the current fiscal year.

Arch Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Wednesday, February 28th. Arch Resources’s payout ratio is 4.16%.

Insider Buying and Selling at Arch Resources

In other Arch Resources news, Director Pamela R. Butcher purchased 200 shares of the stock in a transaction on Wednesday, March 13th. The stock was acquired at an average price of $165.00 per share, with a total value of $33,000.00. Following the transaction, the director now directly owns 200 shares of the company’s stock, valued at approximately $33,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Arch Resources news, Director Pamela R. Butcher purchased 200 shares of the stock in a transaction on Wednesday, March 13th. The stock was acquired at an average price of $165.00 per share, with a total value of $33,000.00. Following the transaction, the director now directly owns 200 shares of the company’s stock, valued at approximately $33,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman John W. Eaves sold 72,946 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $185.03, for a total value of $13,497,198.38. Following the transaction, the chairman now directly owns 136,725 shares of the company’s stock, valued at approximately $25,298,226.75. The disclosure for this sale can be found here. Insiders sold 106,043 shares of company stock valued at $19,442,080 in the last 90 days. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. grew its stake in shares of Arch Resources by 1,900.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 200 shares of the energy company’s stock worth $33,000 after buying an additional 190 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Arch Resources during the 4th quarter valued at $352,000. Vanguard Group Inc. boosted its stake in Arch Resources by 11.9% during the 4th quarter. Vanguard Group Inc. now owns 2,061,209 shares of the energy company’s stock valued at $342,037,000 after purchasing an additional 219,094 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in Arch Resources during the 4th quarter valued at $53,000. Finally, Goldman Sachs Group Inc. boosted its stake in Arch Resources by 9.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 182,870 shares of the energy company’s stock valued at $30,345,000 after purchasing an additional 16,273 shares during the last quarter. Hedge funds and other 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.