5 Best Coal Stocks to Buy Now

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

Number of Hedge Fund Holders: 24
Market Cap: $777.246 million

Arch Resources, Inc. (NYSE: ARCH) was founded in 1969 and is headquartered in St. Louis, Missouri. It produces and sells metallurgical and thermal coal from underground and surface mines. As of 2020, the company has operations in seven active coal mines and sells its products to steel producers, industries, and utility companies located in the US, Asia, Europe, South America, and Africa. Arch Resources, Inc. (NYSE: ARCH) is now trying to make their coal production activities more environmentally friendly to address the growing concerns about coal and its negative impact on the environment. Arch Resources, Inc. (NYSE: ARCH)’s total revenue in 2020 was $1.46 billion and the earnings per share was reported to be $0.45. Despite the challenges created by the pandemic, Arch made significant progress on several strategic objectives during 2020 and maintained excellent momentum in their Leer South longwall mine making it one of the best coal stocks to buy now.

At the end of the fourth quarter of 2020, 24 hedge funds in the database of Insider Monkey held stakes worth $207 million in the firm which is a slight decrease from 26 hedge funds in the preceding quarter holding stakes worth $211 million.