Alpha Metallurgical Resources (NYSE:AMR) Stock Price Target Lowered at B. Riley Financial

Alpha Metallurgical Resources (NYSE:AMR) had its price objective cut by equities researchers at B. Riley Financial from $185.00 to $178.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the energy company’s stock. B. Riley Financial‘s price target indicates a potential upside of 8.43% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. UBS Group raised their price objective on shares of Alpha Metallurgical Resources from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price objective on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Wall Street Zen downgraded shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Zacks Research upgraded shares of Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, October 19th. Finally, Weiss Ratings lowered Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alpha Metallurgical Resources has a consensus rating of “Reduce” and a consensus price target of $178.00.

Alpha Metallurgical Resources Stock Up 0.3%

Shares of AMR stock traded up $0.56 during trading hours on Monday, reaching $164.16. 11,257 shares of the stock were exchanged, compared to its average volume of 286,761. The business’s fifty day moving average is $190.41 and its two-hundred day moving average is $180.63. The firm has a market capitalization of $2.08 billion, a P/E ratio of -45.63 and a beta of 0.85. Alpha Metallurgical Resources has a 12-month low of $133.64 and a 12-month high of $253.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.41 and a quick ratio of 2.37.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The company had revenue of $421.29 million during the quarter, compared to the consensus estimate of $521.61 million. During the same quarter in the previous year, the firm earned ($0.38) earnings per share. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, research analysts expect that Alpha Metallurgical Resources will post -2.40 EPS for the current fiscal year.

Insider Transactions at Alpha Metallurgical Resources

In other news, Director Kenneth Courtis purchased 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average price of $193.50 per share, for a total transaction of $2,902,500.00. Following the purchase, the director directly owned 1,015,394 shares of the company’s stock, valued at $196,478,739. This represents a 1.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders purchased 35,000 shares of company stock worth $7,388,400. Company insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC grew its holdings in shares of Alpha Metallurgical Resources by 63.9% during the third quarter. Sterling Capital Management LLC now owns 259 shares of the energy company’s stock valued at $44,000 after buying an additional 101 shares in the last quarter. Quantinno Capital Management LP raised its position in Alpha Metallurgical Resources by 12.6% during the first quarter. Quantinno Capital Management LP now owns 1,280 shares of the energy company’s stock valued at $263,000 after buying an additional 143 shares during the period. Nykredit A S acquired a new position in Alpha Metallurgical Resources during the second quarter valued at $25,000. Tidal Investments LLC boosted its position in Alpha Metallurgical Resources by 10.2% during the 2nd quarter. Tidal Investments LLC now owns 1,884 shares of the energy company’s stock worth $311,000 after acquiring an additional 174 shares during the period. Finally, Leonteq Securities AG acquired a new stake in Alpha Metallurgical Resources during the 1st quarter worth about $37,000. 84.29% of the stock is owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc is a mining company focused primarily on the production and sale of metallurgical coal. Its coal is used by steelmakers and coke producers in the manufacturing of steel, with additional sales of thermal coal for power generation. The company serves domestic and international customers through a network of mines and related operations.

Alpha operates principally in the Central Appalachian region, with mining assets in West Virginia and Virginia. Its activities include underground and surface mining, coal preparation, processing, and transportation.