Mackenzie Financial Corp Buys 378 Shares of Arch Resources, Inc. (NYSE:ARCH)

Mackenzie Financial Corp raised its stake in shares of Arch Resources, Inc. (NYSE:ARCH) by 17.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,600 shares of the energy company’s stock after acquiring an additional 378 shares during the period. Mackenzie Financial Corp’s holdings in Arch Resources were worth $431,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Covestor Ltd lifted its stake in Arch Resources by 61.4% during the 3rd quarter. Covestor Ltd now owns 184 shares of the energy company’s stock valued at $31,000 after acquiring an additional 70 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of Arch Resources during the 4th quarter worth $38,000. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Arch Resources during the 4th quarter worth $52,000. Acadian Asset Management LLC bought a new stake in shares of Arch Resources during the 3rd quarter worth $65,000. Finally, GW Henssler & Associates Ltd. bought a new stake in shares of Arch Resources during the 3rd quarter worth $247,000. 88.14% of the stock is currently owned by institutional investors.

Arch Resources Trading Down 0.6 %

Shares of Arch Resources stock opened at $164.42 on Friday. Arch Resources, Inc. has a 52-week low of $102.42 and a 52-week high of $187.60. The stock’s 50-day simple moving average is $164.08 and its 200 day simple moving average is $163.64. The stock has a market capitalization of $3.00 billion, a P/E ratio of 6.84 and a beta of 0.68. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.83 and a current ratio of 2.49.

Arch Resources (NYSE:ARCH) last announced its quarterly earnings data on Thursday, April 25th. The energy company reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.19. Arch Resources had a return on equity of 32.20% and a net margin of 14.75%. The business had revenue of $680.19 million for the quarter, compared to analysts’ expectations of $596.52 million. During the same period in the previous year, the business posted $10.02 EPS. The firm’s quarterly revenue was down 21.8% compared to the same quarter last year. As a group, research analysts anticipate that Arch Resources, Inc. will post 14.84 EPS for the current year.

Arch Resources Cuts Dividend

The company also recently disclosed a None dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $1.11 dividend. This represents a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 31st. Arch Resources’s dividend payout ratio is currently 4.16%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Arch Resources

In other Arch Resources news, VP John A. Ziegler sold 148 shares of Arch Resources stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $172.33, for a total transaction of $25,504.84. Following the completion of the transaction, the vice president now owns 23,232 shares of the company’s stock, valued at approximately $4,003,570.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Pamela R. Butcher bought 200 shares of Arch Resources stock in a transaction on Wednesday, March 13th. The stock was acquired at an average price of $165.00 per share, with a total value of $33,000.00. Following the acquisition, the director now directly owns 200 shares of the company’s stock, valued at $33,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John A. Ziegler sold 148 shares of Arch Resources stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $172.33, for a total value of $25,504.84. Following the transaction, the vice president now directly owns 23,232 shares of the company’s stock, valued at approximately $4,003,570.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,335 shares of company stock worth $19,126,100. Company insiders own 5.40% of the company’s stock.

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.