Tocqueville Asset Management L.P. Raises Stake in Arch Coal, Inc. Class A (ARCH)
Tocqueville Asset Management L.P. lifted its position in Arch Coal, Inc. Class A (NASDAQ:ARCH) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,465 shares of the energy company’s stock after purchasing an additional 1,815 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.47% of Arch Coal, Inc. Class A worth $8,283,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Arch Coal, Inc. Class A in the second quarter worth about $104,000. Royal Bank of Canada increased its holdings in shares of Arch Coal, Inc. Class A by 140.6% in the second quarter. Royal Bank of Canada now owns 1,655 shares of the energy company’s stock worth $113,000 after purchasing an additional 967 shares during the last quarter. New York State Teachers Retirement System purchased a new position in Arch Coal, Inc. Class A in the third quarter worth about $136,000. Ameritas Investment Partners Inc. purchased a new position in Arch Coal, Inc. Class A in the second quarter worth about $131,000. Finally, Meeder Asset Management Inc. purchased a new position in Arch Coal, Inc. Class A in the third quarter worth about $155,000.
Shares of Arch Coal, Inc. Class A (NASDAQ ARCH) traded up $0.43 during trading hours on Friday, hitting $79.38. The company’s stock had a trading volume of 349,474 shares.
Arch Coal, Inc. Class A (NASDAQ:ARCH) last announced its quarterly earnings data on Tuesday, October 31st. The energy company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.96. The company had revenue of $613.53 million during the quarter, compared to analyst estimates of $550.35 million. The company’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.43) EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.40 annualized dividend and a dividend yield of 1.76%.
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Several research analysts recently commented on the company. Macquarie assumed coverage on Arch Coal, Inc. Class A in a research report on Thursday, September 7th. They issued a “neutral” rating and a $84.00 price target for the company. MKM Partners reiterated a “buy” rating and issued a $98.00 price target (up previously from $93.00) on shares of Arch Coal, Inc. Class A in a research report on Thursday, August 24th. Clarkson Capital reiterated a “buy” rating on shares of Arch Coal, Inc. Class A in a research report on Thursday, July 27th. Stifel Nicolaus set a $92.00 price target on Arch Coal, Inc. Class A and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, J P Morgan Chase & Co upgraded Arch Coal, Inc. Class A from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $80.00 to $90.00 in a research report on Thursday, August 31st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $93.00.
Arch Coal, Inc. Class A Company Profile
Arch Coal, Inc is a coal producer. The Company is engaged in the production of thermal and metallurgical coal from surface and underground mines located throughout the United States, for sale to utility, industrial and steel producers both in the United States and around the world. The Company operates mining complexes in West Virginia, Kentucky, Maryland, Virginia, Illinois, Wyoming and Colorado.
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