Arch Resources (NYSE:ARCH) Shares Gap Up to $152.23

Arch Resources, Inc. (NYSE:ARCH)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $152.23, but opened at $159.80. Arch Resources shares last traded at $162.57, with a volume of 50,608 shares trading hands.

Analyst Ratings Changes

A number of research firms have weighed in on ARCH. Benchmark restated a “buy” rating and set a $180.00 price objective on shares of Arch Resources in a research note on Monday, April 22nd. BMO Capital Markets restated a “market perform” rating and set a $165.00 price objective (down from $180.00) on shares of Arch Resources in a research note on Wednesday, April 10th. Citigroup reiterated a “neutral” rating and issued a $170.00 price target (down from $185.00) on shares of Arch Resources in a research note on Thursday, April 18th. StockNews.com lowered shares of Arch Resources from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Finally, B. Riley reduced their price target on shares of Arch Resources from $198.00 to $193.00 and set a “buy” rating for the company in a research note on Monday, April 15th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Arch Resources has a consensus rating of “Hold” and a consensus price target of $177.00.

Arch Resources Price Performance

The firm’s 50-day moving average is $161.81 and its 200-day moving average is $165.62. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.64 and a quick ratio of 1.89. The company has a market capitalization of $3.03 billion, a P/E ratio of 9.85 and a beta of 0.64.

Arch Resources (NYSE:ARCH) last announced its earnings results on Monday, April 29th. The energy company reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.19. The company had revenue of $680.19 million during the quarter, compared to analyst estimates of $596.52 million. Arch Resources had a net margin of 10.89% and a return on equity of 22.32%. The firm’s quarterly revenue was down 21.8% compared to the same quarter last year. During the same period in the previous year, the business posted $10.02 earnings per share. Analysts predict that Arch Resources, Inc. will post 12.82 EPS for the current fiscal year.

Arch Resources Cuts Dividend

The company also recently declared a None dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $1.11 per share. This represents a yield of 0.6%. The ex-dividend date was Friday, May 31st. Arch Resources’s dividend payout ratio is currently 5.88%.

Hedge Funds Weigh In On Arch Resources

Large investors have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. lifted its holdings in Arch Resources by 1,900.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 200 shares of the energy company’s stock valued at $33,000 after purchasing an additional 190 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Arch Resources by 99.0% during the first quarter. Lindbrook Capital LLC now owns 201 shares of the energy company’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in Arch Resources by 188.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 202 shares of the energy company’s stock valued at $34,000 after purchasing an additional 132 shares in the last quarter. CVA Family Office LLC purchased a new position in Arch Resources during the fourth quarter valued at approximately $38,000. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in Arch Resources during the fourth quarter valued at approximately $52,000. 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.