Arch Resources, Inc. (NYSE:ARCH) Sees Significant Drop in Short Interest

Arch Resources, Inc. (NYSE:ARCH) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 1,080,000 shares, a drop of 6.1% from the May 31st total of 1,150,000 shares. Based on an average daily volume of 321,500 shares, the days-to-cover ratio is currently 3.4 days.

Arch Resources Trading Down 0.5 %

ARCH stock traded down $0.76 during trading on Wednesday, reaching $166.84. The company had a trading volume of 281,794 shares, compared to its average volume of 408,750. Arch Resources has a 52 week low of $108.25 and a 52 week high of $187.60. The company has a market cap of $3.02 billion, a P/E ratio of 9.81 and a beta of 0.64. The business has a 50 day moving average of $161.81 and a 200 day moving average of $165.62. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.64 and a quick ratio of 1.89.

Arch Resources (NYSE:ARCH) last announced its 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. The business had revenue of $680.19 million during the quarter, compared to the consensus estimate of $596.52 million. Arch Resources had a net margin of 10.89% and a return on equity of 22.32%. The business’s revenue for the quarter was down 21.8% on a year-over-year basis. During the same quarter last year, the firm earned $10.02 earnings per share. As a group, sell-side analysts forecast that Arch Resources will post 12.82 earnings per share for the current fiscal year.

Arch Resources Cuts Dividend

The business 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. The ex-dividend date of this dividend was Friday, May 31st. This represents a dividend yield of 0.6%. Arch Resources’s dividend payout ratio is currently 5.88%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ARCH. Citigroup reissued a “neutral” rating and set a $170.00 price objective (down from $185.00) on shares of Arch Resources in a report on Thursday, April 18th. BMO Capital Markets reiterated a “market perform” rating and issued 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. Benchmark reiterated a “buy” rating and issued a $180.00 price objective on shares of Arch Resources in a report on Monday, April 22nd. Finally, B. Riley reduced their price target on Arch Resources from $198.00 to $193.00 and set a “buy” rating on the stock in a research report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Arch Resources currently has a consensus rating of “Hold” and a consensus price target of $177.00.

Hedge Funds Weigh In On Arch Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its stake in Arch Resources by 9.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 182,870 shares of the energy company’s stock valued at $30,345,000 after purchasing an additional 16,273 shares in the last quarter. Swiss National Bank bought a new position in Arch Resources in the 4th quarter valued at approximately $5,642,000. Vanguard Group Inc. boosted its stake in Arch Resources by 11.9% during the 4th quarter. Vanguard Group Inc. now owns 2,061,209 shares of the energy company’s stock valued at $342,037,000 after purchasing an additional 219,094 shares during the last quarter. Crestline Management LP raised its stake in shares of Arch Resources by 49.6% in the fourth quarter. Crestline Management LP now owns 44,296 shares of the energy company’s stock worth $7,350,000 after purchasing an additional 14,696 shares during the last quarter. Finally, K.J. Harrison & Partners Inc bought a new position in shares of Arch Resources during the fourth quarter valued at $1,493,000. 88.14% of the stock is currently owned by institutional investors.

Arch Resources Company Profile

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.