Arch Resources (NYSE:ARCH) Announces Earnings
Arch Resources (NYSE:ARCH – Get Rating) released its quarterly results on Thursday. The energy company reported EPS of $8.68 for the quarter, missing analyst consensus estimates of $9.14 per ($0.46), Briefing.com reports. The company posted revenue of $863.80 million in the quarter, compared to $746.73 million expected by analysts. Arch Resources had a return on equity of 126.97% and a net margin of 29.26%. The company’s quarterly revenue increased by 45.3% compared to the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $4.92.
Arch Resource Price Performance
Arch Resources stock traded at $3.21 midday Friday, hitting $148.72. 8,494 shares of the stock are trading in the hands, compared to its average volume of 537,631. The stock’s fifty-day moving average is $138.57 and its 200-day moving average is 147 $.90. Arch Resources has a 12-month low of $73.54 and a 12-month high of $183.53. The stock has a market capitalization of $2.76 billion, a P/E ratio of 3.06 and a beta of 0.60. The company has a quick ratio of 1.96, a current ratio of 2.48 and a leverage ratio of 0.11.
Arch Resources Dividend Announcement
The company also recently announced a None dividend, which will be paid on Thursday, December 15. Shareholders of record on Wednesday, November 30 will receive a dividend of $10.75. The ex-dividend date is Tuesday, November 29. Arch Resources’ dividend payout ratio (DPR) is 2.04%.
Insider Activity at Arch Resources
In other news, Director James N. Chapman bought 1,000 shares of the company in a deal that took place on Monday, August 1. The stock was purchased at an average cost of $123.10 per share, with a total value of $123,100.00. Following the completion of the purchase, the administrator now owns 3,224 shares of the company, valued at $396,874.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Arch Resources news, Chief Financial Officer Matthew C. Giljum sold 253 shares of the company in a trade that took place on Thursday, October 13. The stock was sold at an average price of $136.00, for a total transaction of $34,408.00. Following the sale, the CFO now directly owns 11,069 shares of the company, valued at $1,505,384. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, director James N. Chapman acquired 1,000 shares of the company in a transaction on Monday, August 1. The shares were purchased at an average price of $123.10 per share, for a total transaction of $123,100.00. Following the completion of the transaction, the director now owns 3,224 shares of the company, valued at $396,874.40. Disclosure of this purchase can be found here. 8.00% of the shares are held by insiders.
Institutional investors weigh in on Arch Resources
A number of hedge funds and other institutional investors have recently increased or reduced their stakes in ARCH. Price T Rowe Associates Inc. MD increased its position in Arch Resources by 2,404.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 88,356 shares of the energy company valued at $12,643,000 after purchasing an additional 84,828 shares during the period. Renaissance Technologies LLC increased its holdings of Arch Resources shares by 29.3% in the first quarter. Renaissance Technologies LLC now owns 306,600 shares of the energy company worth $42,121,000 after purchasing an additional 69,500 shares during the period. PointState Capital LP bought a new stake in shares of Arch Resources in the first quarter for a value of approximately $5,201,000. Wexford Capital LP increased its holdings of Arch Resources shares by 399.4% in the second quarter. Wexford Capital LP now owns 40,618 shares of the energy company worth $5,812,000 after buying an additional 32,484 shares during the period. Finally, State Street Corp increased its stake in Arch Resources shares by 2.3% in the first quarter. State Street Corp now owns 1,234,347 shares of the energy company worth $169,575,000 after purchasing an additional 28,274 shares during the period. 95.31% of the shares are currently held by hedge funds and other institutional investors.
Changes to analyst ratings
A number of analysts have commented on ARCH shares. StockNews.com began covering Arch Resources in a research report on Wednesday, October 12. They issued a “buy” rating for the company. BMO Capital Markets raised its price target on Arch Resources from $150.00 to $185.00 in a research note on Friday. Finally, B. Riley raised his price target on Arch Resources from $214.00 to $221.00 in a research note on Friday.
Arch Resources Company Profile
(Get a rating)
Arch Resources, Inc produces and sells thermal and metallurgical coal from surface and underground mines. As of December 31, 2021, 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 coalfields in Virginia; 306,033 acres of coal land in West Virginia; 81,470 acres of coal land in Wyoming; 234,543 acres of coal land in Illinois; 33,047 acres of coal land in Kentucky; 362 acres of coal land in Montana; 248 acres of coalfields in Pennsylvania; and 19,018 acres of coalfields in Colorado, as well as smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah and Texas.
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