FY2024 Earnings Forecast for Alpha Metallurgical Resources, Inc. (NYSE:AMR) Issued By B. Riley

Alpha Metallurgical Resources, Inc. (NYSE:AMR) – Research analysts at B. Riley dropped their FY2024 earnings per share (EPS) estimates for shares of Alpha Metallurgical Resources in a research note issued to investors on Tuesday, May 7th. B. Riley analyst L. Pipes now expects that the energy company will post earnings of $28.91 per share for the year, down from their prior forecast of $29.82. B. Riley has a “Buy” rating and a $375.00 price target on the stock. The consensus estimate for Alpha Metallurgical Resources’ current full-year earnings is $29.82 per share. B. Riley also issued estimates for Alpha Metallurgical Resources’ FY2025 earnings at $37.51 EPS and FY2026 earnings at $39.73 EPS.

Alpha Metallurgical Resources (NYSE:AMR) last issued its earnings results on Monday, May 6th. The energy company reported $9.59 EPS for the quarter, missing analysts’ consensus estimates of $9.61 by ($0.02). Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. The firm had revenue of $864.07 million during the quarter, compared to the consensus estimate of $845.35 million. During the same period in the previous year, the firm earned $17.01 earnings per share. The business’s quarterly revenue was down 5.2% on a year-over-year basis.

Separately, Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a report on Tuesday.

Alpha Metallurgical Resources Stock Performance

Shares of AMR opened at $304.61 on Wednesday. The stock has a 50 day moving average price of $332.04 and a two-hundred day moving average price of $325.40. The firm has a market capitalization of $3.96 billion, a P/E ratio of 6.25 and a beta of 1.38. Alpha Metallurgical Resources has a 52 week low of $132.72 and a 52 week high of $452.00.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Large investors have recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Alpha Metallurgical Resources during the third quarter worth $128,857,000. Pacer Advisors Inc. purchased a new stake in Alpha Metallurgical Resources during the 4th quarter worth about $139,291,000. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Alpha Metallurgical Resources during the third quarter valued at approximately $28,239,000. Dalal Street LLC grew its position in shares of Alpha Metallurgical Resources by 21.7% during the 3rd quarter. Dalal Street LLC now owns 441,510 shares of the energy company’s stock valued at $114,673,000 after purchasing an additional 78,861 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Alpha Metallurgical Resources by 180.9% during the 3rd quarter. Invesco Ltd. now owns 115,816 shares of the energy company’s stock valued at $30,081,000 after purchasing an additional 74,583 shares in the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Insiders Place Their Bets

In other Alpha Metallurgical Resources news, insider Daniel E. Horn sold 100 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $360.29, for a total transaction of $36,029.00. Following the completion of the sale, the insider now directly owns 6,462 shares of the company’s stock, valued at approximately $2,328,193.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Daniel E. Horn sold 100 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $360.29, for a total transaction of $36,029.00. Following the completion of the sale, the insider now directly owns 6,462 shares of the company’s stock, valued at approximately $2,328,193.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David J. Stetson sold 30,694 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 26,054 shares in the company, valued at $10,220,984.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 153,971 shares of company stock valued at $55,479,986. Corporate insiders own 16.40% 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.