Arch Resources (NYSE:ARCH) Shares Down 5.6%

Arch Resources, Inc. (NYSE:ARCH) traded down 5.6% during mid-day trading on Friday . The company traded as low as $146.75 and last traded at $148.10. 133,927 shares traded hands during trading, a decline of 67% from the average session volume of 402,767 shares. The stock had previously closed at $156.96.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. BMO Capital Markets restated a “market perform” rating and set a $165.00 target price (down previously from $180.00) on shares of Arch Resources in a research report on Wednesday, April 10th. StockNews.com lowered shares of Arch Resources from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. B. Riley decreased their target price on shares of Arch Resources from $198.00 to $193.00 and set a “buy” rating on the stock in a research report on Monday, April 15th. Benchmark reiterated a “buy” rating and issued a $180.00 price target on shares of Arch Resources in a report on Monday, April 22nd. Finally, Citigroup reiterated a “neutral” rating and issued a $170.00 price target (down previously from $185.00) on shares of Arch Resources in a report on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $177.00.

Arch Resources Stock Performance

The company has a market cap of $2.71 billion, a price-to-earnings ratio of 8.71 and a beta of 0.66. The stock’s fifty day simple moving average is $162.91 and its two-hundred day simple moving average is $166.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.89 and a current ratio of 2.64.

Arch Resources (NYSE:ARCH) last announced its quarterly earnings results on Monday, April 29th. The energy company reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.19. Arch Resources had a net margin of 10.89% and a return on equity of 22.32%. The company had revenue of $680.19 million for the quarter, compared to analyst estimates of $596.52 million. During the same quarter last year, the business earned $10.02 EPS. Arch Resources’s revenue for the quarter was down 21.8% on a year-over-year basis. Equities research analysts anticipate that Arch Resources, Inc. will post 12.82 EPS for the current year.

Arch Resources Cuts Dividend

The firm also recently announced a None dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $1.11 dividend. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, May 31st. Arch Resources’s dividend payout ratio is presently 5.88%.

Hedge Funds Weigh In On Arch Resources

A number of hedge funds have recently made changes to their positions in ARCH. UBS Group AG raised its stake in shares of Arch Resources by 166.3% in the 3rd quarter. UBS Group AG now owns 63,822 shares of the energy company’s stock valued at $10,892,000 after acquiring an additional 39,855 shares during the period. Rhumbline Advisers increased its stake in Arch Resources by 3.3% during the 3rd quarter. Rhumbline Advisers now owns 30,286 shares of the energy company’s stock worth $5,169,000 after buying an additional 974 shares during the period. Acadian Asset Management LLC purchased a new stake in Arch Resources during the 3rd quarter worth $65,000. EAM Investors LLC purchased a new stake in Arch Resources during the 3rd quarter worth $1,394,000. Finally, Covestor Ltd increased its stake in Arch Resources by 61.4% during the 3rd quarter. Covestor Ltd now owns 184 shares of the energy company’s stock worth $31,000 after buying an additional 70 shares during the period. Hedge funds and other 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.