Shares of Arch Resources Inc. Class A (NYSE:ARCH) traded today at $86.87, eclipsing its 52-week high. Approximately 101,000 shares have changed hands today, as compared to an average 30-day volume of 367,000 shares.
Arch Resources Inc is a producer of metallurgical and coking coal. The company sells its coal to power plants, steel mills, and industrial facilities. Its operating segment includes Powder River Basin (PRB); Metallurgical (MET); Other Thermal and Corporate. The company generates maximum revenue from the Powder River Basin (PRB) segment. Its PRB segment containing the company’s primary thermal operations in Wyoming. The MET segment, containing the company’s metallurgical operations in West Virginia, and the Other Thermal segment containing the company’s supplementary thermal operations in Colorado and Illinois. Geographically, it derives a majority of revenue from Europe.
Over the past year, Arch Resources Inc. Class A has traded in a range of $27.86 to $86.87 and is now at $86.53, 211% above that low.
Potential upside of 31.4% exists for Arch Resources Inc. Class A, based on a current level of $86.53 and analysts’ average consensus price target of $113.70.
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