ARCH - Arch Resources Unlikely To Reach 10M Watermark Before 2025 - Analyst | Benzinga
B. Riley Securities analyst Lucas N. Pipes reiterated the Buy rating on Arch Resources, Inc. (NYSE: ARCH), lowering the price target to $188 from $197.
According to the analyst, Arch Resources has lowered its coking coal sales volume guidance and increased cost guidance for the full year, indicating a less optimistic outlook.
Pipes notes that for 3Q, EBITDA is expected to be 10% lower than 2Q levels, falling below the analyst's and consensus estimates.
The revisions are primarily driven by ongoing challenges at Leer South, where the company cited constrained advance rates in the first longwall district.
Leer South failed to match the output ...