Short Interest in Arch Resources, Inc. (NYSE:ARCH) Declines By 6.1%

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

Arch Resources Price Performance

Shares of ARCH traded down $0.76 on Wednesday, reaching $166.84. The stock had a trading volume of 281,794 shares, compared to its average volume of 408,750. Arch Resources has a twelve month low of $108.25 and a twelve month high of $187.60. The firm has a market capitalization of $3.02 billion, a PE ratio of 9.85 and a beta of 0.64. The firm has a 50-day moving average of $161.81 and a 200 day moving average of $165.62. The company has a quick ratio of 1.89, a current ratio of 2.64 and a debt-to-equity ratio of 0.07.

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 return on equity of 22.32% and a net margin of 10.89%. The business had revenue of $680.19 million during the quarter, compared to analysts’ expectations of $596.52 million. During the same quarter last year, the business posted $10.02 earnings per share. The business’s revenue for the quarter was down 21.8% on a year-over-year basis. Sell-side analysts expect that Arch Resources 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. Shareholders of record on Friday, May 31st were given a dividend of $1.11 per share. This represents a yield of 0.6%. The ex-dividend date was Friday, May 31st. Arch Resources’s payout ratio is currently 5.88%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ARCH. B. Riley cut their price target on shares of Arch Resources from $198.00 to $193.00 and set a “buy” rating for the company in a report on Monday, April 15th. Benchmark reissued a “buy” rating and issued a $180.00 price target on shares of Arch Resources in a report on Monday, April 22nd. Citigroup reaffirmed a “neutral” rating and set a $170.00 price objective (down previously from $185.00) on shares of Arch Resources in a report on Thursday, April 18th. BMO Capital Markets reissued a “market perform” rating and issued a $165.00 target price (down previously from $180.00) on shares of Arch Resources in a report on Wednesday, April 10th. Finally, StockNews.com cut shares of Arch Resources from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arch Resources presently has an average rating of “Hold” and an average target price of $177.00.

Institutional Trading of Arch Resources

Institutional investors and hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC lifted its stake in shares of Arch Resources by 99.0% during the first quarter. Lindbrook Capital LLC now owns 201 shares of the energy company’s stock valued at $32,000 after buying an additional 100 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in shares of Arch Resources by 1,900.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 200 shares of the energy company’s stock worth $33,000 after purchasing an additional 190 shares during the last quarter. Hexagon Capital Partners LLC grew its position in shares of Arch Resources by 188.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 202 shares of the energy company’s stock valued at $34,000 after purchasing an additional 132 shares during the period. CVA Family Office LLC acquired a new position in Arch Resources in the fourth quarter valued at $38,000. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in Arch Resources during the fourth quarter worth about $52,000. 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.