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

Alpha Metallurgical Resources (NYSE:AMR) had its target price decreased by B. Riley from $381.00 to $374.00 in a research report released 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 Price Performance

Alpha Metallurgical Resources stock opened at $337.45 on Monday. The stock’s fifty day moving average price is $347.89 and its two-hundred day moving average price is $316.19. Alpha Metallurgical Resources has a one year low of $132.72 and a one year high of $452.00. The firm has a market cap of $4.39 billion, a PE ratio of 6.93 and a beta of 1.35.

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

Insider Activity

In other news, Director David J. Stetson sold 30,694 shares of Alpha Metallurgical Resources stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $392.30, for a total value of $12,041,256.20. Following the transaction, the director now owns 26,054 shares in the company, valued at approximately $10,220,984.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director David J. Stetson sold 30,694 shares of Alpha Metallurgical Resources stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $392.30, for a total value of $12,041,256.20. Following the transaction, the director now owns 26,054 shares in the company, valued at approximately $10,220,984.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Charles Andrew Eidson sold 30,000 shares of Alpha Metallurgical Resources 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 completion of the transaction, the chief executive officer now owns 50,025 shares in the company, valued at approximately $18,162,076.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 153,971 shares of company stock worth $55,479,986. Insiders own 15.00% of the company’s stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several hedge funds have recently modified their holdings of AMR. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Alpha Metallurgical Resources during the 3rd quarter valued at $128,857,000. Pacer Advisors Inc. acquired a new stake in shares of Alpha Metallurgical Resources during the 4th quarter valued at $139,291,000. Renaissance Technologies LLC boosted its holdings in shares of Alpha Metallurgical Resources by 545.5% during the 1st quarter. Renaissance Technologies LLC now owns 304,115 shares of the energy company’s stock valued at $40,131,000 after acquiring an additional 257,000 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Alpha Metallurgical Resources by 13,521.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 222,855 shares of the energy company’s stock valued at $39,000 after acquiring an additional 221,219 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Alpha Metallurgical Resources by 17.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,492,124 shares of the energy company’s stock valued at $204,182,000 after acquiring an additional 216,652 shares in the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

About Alpha Metallurgical Resources

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.