5 Best Coal Mining Stocks to Buy

2. Arch Resources, Inc. (NYSE:ARCH)

Number of Hedge Fund Holders: 42 

Arch Resources, Inc. (NYSE:ARCH) produces and sells coal. In late April, the company posted earnings for the first quarter of 2023, reporting earnings per share of $10.02, beating market estimates by $0.02. The revenue over the period was $869 million, beating estimates by more than $100 million. 

On April 28, B. Riley analyst Lucas Pipes maintained a Buy rating on Arch Resources, Inc. (NYSE:ARCH) stock and lowered the price target to $198 from $200, noting that the highly competitive cost structure of the firm was a key feature of the investment case.

At the end of the first quarter of 2023, 42 hedge funds in the database of Insider Monkey held stakes worth $479 million in Arch Resources, Inc. (NYSE:ARCH), up from 34 in the previous quarter worth $717 million.