B. Riley Trims Arch Resources (NYSE:ARCH) Target Price to $193.00

Arch Resources (NYSE:ARCH) had its price objective trimmed by B. Riley from $198.00 to $193.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has 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.

Other equities analysts have also recently issued research reports about the company. StockNews.com cut Arch Resources from a buy rating to a hold rating in a report on Thursday, March 7th. Citigroup upped their price target on Arch Resources from $160.00 to $185.00 and gave the company a buy rating in a research report on Thursday, April 11th. Finally, BMO Capital Markets reiterated a market perform rating and issued a $165.00 price target (down previously from $180.00) on shares of Arch Resources in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $180.75.

Arch Resources Price Performance

Shares of ARCH opened at $164.31 on Monday. Arch Resources has a 12-month low of $102.42 and a 12-month high of $187.60. The business has a 50-day simple moving average of $165.05 and a two-hundred day simple moving average of $163.32. The company has a quick ratio of 1.83, a current ratio of 2.49 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.00 billion, a PE ratio of 6.83 and a beta of 0.68.

Arch Resources (NYSE:ARCH) last issued 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 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 analyst estimates of $704.53 million. During the same period in the previous year, the company earned $23.18 EPS. Arch Resources’s revenue for the quarter was down 9.9% on a year-over-year basis. Analysts anticipate that Arch Resources will post 19.22 earnings per share for the current fiscal year.

Arch Resources Dividend Announcement

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

Insider Activity at Arch Resources

In related news, VP Rosemary L. Klein sold 1,708 shares of the company’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $185.00, for a total transaction of $315,980.00. Following the sale, the vice president now owns 6,449 shares in the company, valued at approximately $1,193,065. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Rosemary L. Klein sold 1,708 shares of the company’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $185.00, for a total transaction of $315,980.00. Following the sale, the vice president now owns 6,449 shares in the company, valued at approximately $1,193,065. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Paul T. Demzik sold 4,451 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $178.40, for a total value of $794,058.40. Following the sale, the vice president now owns 2,192 shares in the company, valued at approximately $391,052.80. The disclosure for this sale can be found here. Insiders have sold a total of 106,043 shares of company stock worth $19,442,080 in the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. boosted its holdings in Arch Resources by 1,900.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 200 shares of the energy company’s stock worth $33,000 after acquiring an additional 190 shares in the last quarter. Quadrature Capital Ltd bought a new position in Arch Resources in the fourth quarter worth approximately $352,000. Vanguard Group Inc. boosted its holdings in Arch Resources by 11.9% in the fourth quarter. Vanguard Group Inc. now owns 2,061,209 shares of the energy company’s stock worth $342,037,000 after acquiring an additional 219,094 shares in the last quarter. ICA Group Wealth Management LLC bought a new position in Arch Resources in the fourth quarter worth approximately $53,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Arch Resources by 9.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 182,870 shares of the energy company’s stock worth $30,345,000 after acquiring an additional 16,273 shares in the last quarter. Institutional investors 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.