Alken Asset Management Ltd. lessened its stake in Arch Coal Inc (NYSE:ARCH) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 462,864 shares of the energy company’s stock after selling 8,490 shares during the quarter. Arch Coal comprises about 77.3% of Alken Asset Management Ltd.’s holdings, making the stock its largest holding. Alken Asset Management Ltd. owned 2.75% of Arch Coal worth $43,606,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of ARCH. LSV Asset Management increased its stake in Arch Coal by 411.6% during the first quarter. LSV Asset Management now owns 484,622 shares of the energy company’s stock worth $44,231,000 after acquiring an additional 389,902 shares during the last quarter. Packer & Co Ltd grew its stake in shares of Arch Coal by 59.4% in the second quarter. Packer & Co Ltd now owns 963,346 shares of the energy company’s stock valued at $54,703,000 after buying an additional 358,846 shares in the last quarter. Millennium Management LLC grew its stake in shares of Arch Coal by 47.4% in the fourth quarter. Millennium Management LLC now owns 261,492 shares of the energy company’s stock valued at $21,701,000 after buying an additional 84,108 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Arch Coal by 18.8% in the first quarter. JPMorgan Chase & Co. now owns 527,555 shares of the energy company’s stock valued at $48,151,000 after buying an additional 83,590 shares in the last quarter. Finally, Formula Growth Ltd. acquired a new stake in shares of Arch Coal in the first quarter valued at $7,393,000.
ARCH has been the subject of a number of research reports. Zacks Investment Research cut Centennial Resource Development from a “hold” rating to a “sell” rating in a research note on Tuesday. BMO Capital Markets lifted their price objective on Inflarx to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. ValuEngine cut Viewray from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, TheStreet cut Virtusa from a “b-” rating to a “c+” rating in a research note on Wednesday, May 29th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Arch Coal currently has a consensus rating of “Hold” and a consensus price target of $113.40.
Arch Coal (NYSE:ARCH) last released its earnings results on Tuesday, April 23rd. The energy company reported $3.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.53 by $1.38. The firm had revenue of $555.18 million during the quarter, compared to analyst estimates of $572.79 million. Arch Coal had a return on equity of 47.43% and a net margin of 13.38%. Arch Coal’s revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business posted $2.74 earnings per share. As a group, equities research analysts predict that Arch Coal Inc will post 18.59 earnings per share for the current fiscal year.
Arch Coal Profile
Arch Coal, Inc produces and sells thermal and metallurgical coal from surface and underground mines. As of December 31, 2018, the company operated nine active mines. It also owned or controlled primarily through long-term leases approximately 28,292 acres of coal land in Ohio; 1,060 acres of coal land in Maryland; 10,195 acres of coal land in Virginia; 359,122 acres of coal land in West Virginia; 81,868 acres of coal land in Wyoming; 268,802 acres of coal land in Illinois; 33,527 acres of coal land in Kentucky; 9,840 acres of coal land in Montana; 21,802 acres of coal land in New Mexico; 358 acres of coal land in Pennsylvania; and 19,146 acres of coal land in Colorado, as well as owned or controlled through long-term leases smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.
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