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

Arch Resources (NYSE:ARCH) had its price target lowered by analysts at B. Riley from $198.00 to $193.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. B. Riley’s price objective indicates a potential upside of 16.32% from the stock’s previous close. B. Riley also issued estimates for Arch Resources’ Q3 2024 earnings at $4.12 EPS and Q4 2024 earnings at $4.17 EPS.

Several other research firms have also recently weighed in on ARCH. StockNews.com cut Arch Resources from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. BMO Capital Markets reaffirmed a “market perform” rating and set a $165.00 price objective (down from $180.00) on shares of Arch Resources in a research report on Wednesday, April 10th. Finally, Citigroup upped their price objective on Arch Resources from $160.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $180.75.

Arch Resources Trading Up 5.1 %

NYSE ARCH opened at $165.92 on Monday. 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 company has a market capitalization of $3.03 billion, a PE ratio of 6.90 and a beta of 0.68. The stock has a 50-day simple moving average of $165.08 and a 200 day simple moving average of $163.32.

Arch Resources (NYSE:ARCH) last posted its earnings results 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 net margin of 14.75% and a return on equity of 32.20%. The business had revenue of $774.00 million during the quarter, compared to analyst estimates of $704.53 million. During the same period in the previous year, the firm posted $23.18 earnings per share. The firm’s revenue was down 9.9% on a year-over-year basis. Research analysts forecast that Arch Resources will post 19.22 EPS for the current year.

Insider Activity at Arch Resources

In other Arch Resources news, VP Rosemary L. Klein sold 1,708 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $185.00, for a total value of $315,980.00. Following the sale, the vice president now owns 6,449 shares in the company, valued at $1,193,065. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Pamela R. Butcher bought 200 shares of the stock in a transaction dated Wednesday, March 13th. The shares were bought at an average price of $165.00 per share, for a total transaction of $33,000.00. Following the completion of the purchase, the director now owns 200 shares in the company, valued at $33,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Rosemary L. Klein sold 1,708 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $185.00, for a total value of $315,980.00. Following the sale, the vice president now directly owns 6,449 shares in the company, valued at approximately $1,193,065. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,043 shares of company stock valued at $19,442,080. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Arch Resources

A number of large investors have recently added to or reduced their stakes in ARCH. Resurgent Financial Advisors LLC acquired a new stake in Arch Resources during the fourth quarter worth approximately $29,000. Covestor Ltd boosted its holdings in shares of Arch Resources by 61.4% in the 3rd quarter. Covestor Ltd now owns 184 shares of the energy company’s stock valued at $31,000 after purchasing an additional 70 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Arch Resources in the 2nd quarter valued at $32,000. Newbridge Financial Services Group Inc. boosted its holdings 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 valued at $33,000 after purchasing an additional 190 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of Arch Resources by 188.6% in the 4th 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. Institutional investors and hedge funds own 88.14% of the company’s stock.

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.