Arch Resources, Inc. (NYSE:ARCH – Get Free Report) was the target of a large decline in short interest in August. As of August 15th, there was short interest totalling 1,610,000 shares, a decline of 8.5% from the July 31st total of 1,760,000 shares. Based on an average daily trading volume, of 390,400 shares, the short-interest ratio is presently 4.1 days.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Arch Resources in a research note on Thursday, August 17th. They issued a “hold” rating for the company. B. Riley reiterated a “buy” rating and set a $195.00 price target on shares of Arch Resources in a report on Monday, July 31st.
Institutional Trading of Arch Resources
A number of institutional investors and hedge funds have recently bought and sold shares of ARCH. Advisor Group Holdings Inc. grew its stake in shares of Arch Resources by 2.9% in the first quarter. Advisor Group Holdings Inc. now owns 2,371 shares of the energy company’s stock worth $325,000 after acquiring an additional 67 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Arch Resources by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 78,779 shares of the energy company’s stock worth $10,823,000 after acquiring an additional 4,910 shares during the period. MetLife Investment Management LLC grew its stake in shares of Arch Resources by 58.0% in the first quarter. MetLife Investment Management LLC now owns 8,190 shares of the energy company’s stock worth $1,125,000 after acquiring an additional 3,007 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Arch Resources by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 519,483 shares of the energy company’s stock worth $71,366,000 after acquiring an additional 14,434 shares during the period. Finally, Ergoteles LLC bought a new stake in shares of Arch Resources in the first quarter worth approximately $619,000. 85.03% of the stock is currently owned by institutional investors.
Arch Resources Stock Up 4.8 %
NYSE:ARCH traded up $6.27 on Friday, reaching $136.87. 145,434 shares of the stock traded hands, compared to its average volume of 419,296. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 2.98 and a beta of 0.71. The company has a current ratio of 2.43, a quick ratio of 1.65 and a debt-to-equity ratio of 0.08. Arch Resources has a 12 month low of $102.42 and a 12 month high of $167.68. The company’s fifty day simple moving average is $123.30 and its 200 day simple moving average is $127.62.
Arch Resources (NYSE:ARCH – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The energy company reported $4.04 earnings per share for the quarter, missing analysts’ consensus estimates of $5.82 by ($1.78). The firm had revenue of $757.29 million for the quarter, compared to the consensus estimate of $670.17 million. Arch Resources had a net margin of 27.67% and a return on equity of 68.14%. The firm’s revenue for the quarter was down 33.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $19.30 earnings per share. Equities analysts predict that Arch Resources will post 24.61 EPS for the current fiscal year.
Arch Resources Increases Dividend
The company also recently disclosed a None dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a dividend of $3.97 per share. This is a positive change from Arch Resources’s previous None dividend of $2.45. This represents a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, August 30th. Arch Resources’s dividend payout ratio (DPR) is currently 2.18%.
Arch Resources Company Profile
Arch Resources, Inc produces and sells metallurgical products. As of December 31, 2022, the company operated seven active mines. It also owned or controlled primarily through long-term leases approximately 28,292 acres of coal land in Ohio; 952 acres of coal land in Maryland; 10,095 acres of coal land in Virginia; 306,263 acres of coal land in West Virginia; 81,450 acres of coal land in Wyoming; 234,087 acres of coal land in Illinois; 33,047 acres of coal land in Kentucky; 362 acres of coal land in Montana; 248 acres of coal land in Pennsylvania; and 19,018 acres of coal land in Colorado, as well as smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.