Connor Clark & Lunn Investment Management Ltd. Lowers Position in Arch Resources, Inc. (NYSE:ARCH)

Posted by Defense World Staff on Aug 20th, 2023

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Arch Resources, Inc. (NYSE:ARCH – Free Report) by 18.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,242 shares of the energy company’s stock after selling 6,482 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.16% of Arch Resources worth $3,844,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Advisor Group Holdings Inc. increased its stake in shares of Arch Resources by 2.9% during the first quarter. Advisor Group Holdings Inc. now owns 2,371 shares of the energy company’s stock valued at $325,000 after purchasing an additional 67 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Arch Resources by 6.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,379 shares of the energy company’s stock valued at $313,000 after acquiring an additional 137 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Arch Resources by 113.8% during the second quarter. Captrust Financial Advisors now owns 295 shares of the energy company’s stock valued at $42,000 after acquiring an additional 157 shares in the last quarter. Ronald Blue Trust Inc. increased its position in shares of Arch Resources by 57.8% during the first quarter. Ronald Blue Trust Inc. now owns 434 shares of the energy company’s stock valued at $62,000 after acquiring an additional 159 shares in the last quarter. Finally, Cetera Advisors LLC increased its position in shares of Arch Resources by 9.2% during the fourth quarter. Cetera Advisors LLC now owns 1,941 shares of the energy company’s stock valued at $277,000 after acquiring an additional 164 shares in the last quarter. Institutional investors own 82.18% of the company’s stock.

Arch Resources Trading Down 0.3 %

Shares of Arch Resources stock opened at $133.22 on Friday. The company’s fifty day simple moving average is $119.86 and its 200-day simple moving average is $128.51. The stock has a market capitalization of $2.42 billion, a PE ratio of 2.90 and a beta of 0.71. Arch Resources, Inc. has a 1-year low of $102.42 and a 1-year high of $173.90. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.43 and a quick ratio of 1.65.

Arch Resources (NYSE:ARCH – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The energy company reported $4.04 earnings per share for the quarter, missing the consensus estimate of $5.82 by ($1.78). The business had revenue of $757.29 million for the quarter, compared to analysts’ expectations of $670.17 million. Arch Resources had a return on equity of 68.14% and a net margin of 27.67%. The company’s revenue was down 33.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $19.30 EPS. As a group, equities analysts anticipate that Arch Resources, Inc. will post 24.61 earnings per share for the current year.

Arch Resources Increases Dividend

The company also recently announced a None dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $3.97 per share. This is a boost from Arch Resources’s previous None dividend of $2.45. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a dividend yield of 0.8%. Arch Resources’s payout ratio is 2.18%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ARCH. B. Riley reaffirmed a “buy” rating and issued a $195.00 target price on shares of Arch Resources in a research report on Monday, July 31st. StockNews.com began coverage on shares of Arch Resources in a research report on Thursday. They issued a “hold” rating for the company.

Get Our Latest Report on ARCH

Arch Resources Profile

(Free Report)

Arch Resources, Inc produces and sells metallurgical products. As of December 31, 2022, 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 coal land in Virginia; 306,263 acres of coal land in West Virginia; 81,450 acres of coal land in Wyoming; 234,087 acres of coal land in Illinois; 33,047 acres of coal land in Kentucky; 362 acres of coal land in Montana; 248 acres of coal land in Pennsylvania; and 19,018 acres of coal land in Colorado, as well as smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.