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

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

Institutional Trading of Arch Resources

A number of institutional investors have recently bought and sold shares of ARCH. Vanguard Group Inc. lifted its holdings in Arch Resources by 13.9% during the 1st quarter. Vanguard Group Inc. now owns 2,347,568 shares of the energy company’s stock worth $377,465,000 after buying an additional 286,359 shares during the last quarter. KGH Ltd purchased a new stake in Arch Resources during the 3rd quarter worth about $18,431,000. Principal Financial Group Inc. lifted its holdings in Arch Resources by 681.4% during the 1st quarter. Principal Financial Group Inc. now owns 108,929 shares of the energy company’s stock worth $17,515,000 after buying an additional 94,989 shares during the last quarter. Regal Partners Ltd purchased a new stake in Arch Resources during the 3rd quarter worth about $14,396,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Arch Resources during the 1st quarter worth about $9,397,000. 88.14% of the stock is owned by hedge funds and other institutional investors.

Arch Resources Trading Down 0.7 %

ARCH opened at $166.47 on Thursday. Arch Resources has a 12 month low of $108.25 and a 12 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 company has a debt-to-equity ratio of 0.07, a current ratio of 2.64 and a quick ratio of 1.89. The business has a fifty day moving average price of $161.96 and a 200 day moving average price of $165.62.

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

Arch Resources Cuts Dividend

The firm 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 of this dividend was Friday, May 31st. Arch Resources’s dividend payout ratio (DPR) is 5.88%.

Wall Street Analyst Weigh In

ARCH has been the subject of a number of research reports. Benchmark reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Arch Resources in a research note on Monday, April 22nd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $165.00 price objective (down from $180.00) on shares of Arch Resources in a research note on Wednesday, April 10th. Citigroup reaffirmed a “neutral” rating and issued a $170.00 price objective (down from $185.00) on shares of Arch Resources in a research note on Thursday, April 18th. StockNews.com cut Arch Resources from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Finally, B. Riley dropped their price objective on 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $177.00.

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.