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Arch Resources Climbs 21% On Higher Q1 Results

Shares of metallurgical products company Arch Resources, Inc. (ARCH) are soaring 21 percent on Tuesday's trading after the company turned to profit in the first quarter of 2022.

The company posted net income of $271.9 million or $12.89 per share, compared with a net loss of $6.0 million or $0.40 per diluted share in the prior-year period.

On average, 5 analysts polled by Thomson Reuters expected the company to earn $13.11 per share in the quarter.

The company's revenues soared to $867.94 million from $357.54 million in the same period last year.

Currently at $157.29, the stock has traded between $44.20 and $175.99 during the past 52 weeks.

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