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

Alpha Metallurgical Resources (NYSE:AMR) had its price objective reduced by B. Riley from $381.00 to $374.00 in a report published on Monday morning, Benzinga reports. They currently have 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

Shares of Alpha Metallurgical Resources stock opened at $342.25 on Monday. The business’s 50 day simple moving average is $348.56 and its two-hundred day simple moving average is $316.05. The stock has a market capitalization of $4.45 billion, a P/E ratio of 7.03 and a beta of 1.35. Alpha Metallurgical Resources has a one year low of $132.72 and a one year high of $452.00.

Alpha Metallurgical Resources (NYSE:AMR) last posted its 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 firm had revenue of $959.90 million for the quarter, compared to analysts’ expectations of $796.65 million. During the same period in the previous year, the firm earned $13.37 earnings per share. The business’s revenue was up 16.6% compared to the same quarter last year. Sell-side analysts expect that Alpha Metallurgical Resources will post 37.3 earnings per share for the current fiscal year.

Insider Activity

In other news, Director David J. Stetson sold 30,694 shares of the business’s stock in a transaction that occurred 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 directly owns 26,054 shares of the company’s stock, valued at $10,220,984.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related 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 value of $12,041,256.20. Following the sale, the director now directly 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 SEC, which is available through the SEC website. Also, CEO Charles Andrew Eidson sold 30,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $363.06, for a total value of $10,891,800.00. Following the completion of the sale, the chief executive officer now directly owns 50,025 shares in the company, valued at $18,162,076.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,971 shares of company stock valued at $55,479,986. Company insiders own 16.40% of the company’s stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMR. Fuller & Thaler Asset Management Inc. purchased a new stake in Alpha Metallurgical Resources in the third quarter worth $128,857,000. Pacer Advisors Inc. bought a new stake in Alpha Metallurgical Resources in the fourth quarter worth $139,291,000. Renaissance Technologies LLC boosted its holdings in Alpha Metallurgical Resources by 545.5% in the first quarter. Renaissance Technologies LLC now owns 304,115 shares of the energy company’s stock worth $40,131,000 after acquiring an additional 257,000 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Alpha Metallurgical Resources by 13,521.9% in the first quarter. Envestnet Asset Management Inc. now owns 222,855 shares of the energy company’s stock worth $39,000 after acquiring an additional 221,219 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Alpha Metallurgical Resources by 17.0% in the third quarter. Vanguard Group Inc. now owns 1,492,124 shares of the energy company’s stock worth $204,182,000 after acquiring an additional 216,652 shares in the last quarter. 84.29% of the stock is owned by hedge funds and other institutional investors.

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.