Alpha Metallurgical Resources (NYSE:AMR) Price Target Lowered to $374.00 at B. Riley

Alpha Metallurgical Resources (NYSE:AMR) had its price target reduced by B. Riley from $381.00 to $374.00 in a research note published on Monday morning, Benzinga reports. B. Riley currently has a buy rating on the energy company’s stock. B. Riley also issued estimates for Alpha Metallurgical Resources’ Q1 2024 earnings at $9.61 EPS, Q2 2024 earnings at $2.77 EPS, Q3 2024 earnings at $8.80 EPS, Q4 2024 earnings at $8.65 EPS and FY2024 earnings at $29.82 EPS.

Alpha Metallurgical Resources Trading Down 1.4 %

AMR opened at $337.45 on Monday. Alpha Metallurgical Resources has a 1-year low of $132.72 and a 1-year high of $452.00. The stock has a market capitalization of $4.39 billion, a PE ratio of 6.93 and a beta of 1.35. The firm has a 50-day moving average price of $347.89 and a two-hundred day moving average price of $316.19.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Monday, February 26th. The energy company reported $12.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.78 by $4.10. The business had revenue of $959.90 million during the quarter, compared to analyst estimates of $796.65 million. Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. Alpha Metallurgical Resources’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the business posted $13.37 earnings per share. On average, research analysts predict that Alpha Metallurgical Resources will post 29.82 EPS for the current year.

Insider Activity

In other news, Director David J. Stetson sold 30,694 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $392.30, for a total transaction of $12,041,256.20. Following the transaction, the director now owns 26,054 shares of the company’s stock, valued at $10,220,984.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director David J. Stetson sold 30,694 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $392.30, for a total transaction of $12,041,256.20. Following the transaction, the director now owns 26,054 shares of the company’s stock, valued at $10,220,984.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Andrew Eidson sold 30,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $363.06, for a total value of $10,891,800.00. Following the transaction, the chief executive officer now directly owns 50,025 shares in the company, valued at approximately $18,162,076.50. The disclosure for this sale can be found here. Insiders have sold 153,971 shares of company stock valued at $55,479,986 over the last 90 days. 15.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several large investors have recently made changes to their positions in AMR. Stratos Wealth Advisors LLC increased its holdings in Alpha Metallurgical Resources by 0.5% in the fourth quarter. Stratos Wealth Advisors LLC now owns 6,631 shares of the energy company’s stock valued at $2,247,000 after purchasing an additional 31 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in Alpha Metallurgical Resources by 0.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 4,802 shares of the energy company’s stock valued at $1,627,000 after purchasing an additional 35 shares during the last quarter. Measured Wealth Private Client Group LLC increased its holdings in Alpha Metallurgical Resources by 5.0% in the first quarter. Measured Wealth Private Client Group LLC now owns 819 shares of the energy company’s stock valued at $271,000 after purchasing an additional 39 shares during the last quarter. Advisor Group Holdings Inc. increased its holdings in Alpha Metallurgical Resources by 9.9% in the fourth quarter. Advisor Group Holdings Inc. now owns 730 shares of the energy company’s stock valued at $107,000 after purchasing an additional 66 shares during the last quarter. Finally, American International Group Inc. increased its holdings in Alpha Metallurgical Resources by 1.1% in the fourth quarter. American International Group Inc. now owns 6,300 shares of the energy company’s stock valued at $2,135,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc, a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company offers metallurgical coal products. It operates twenty-two active mines and nine coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc and changed its name to Alpha Metallurgical Resources, Inc in February 2021.