Alpha Metallurgical Resources (NYSE:AMR) PT Raised to $375.00

Alpha Metallurgical Resources (NYSE:AMR) had its price objective raised by research analysts at B. Riley from $374.00 to $375.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. B. Riley’s price target points to a potential upside of 24.80% from the company’s previous close. B. Riley also issued estimates for Alpha Metallurgical Resources’ FY2024 earnings at $28.91 EPS, FY2025 earnings at $37.51 EPS and FY2026 earnings at $39.73 EPS.

Separately, Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Tuesday.

Alpha Metallurgical Resources Price Performance

AMR opened at $300.49 on Tuesday. The business has a fifty day simple moving average of $330.80 and a 200 day simple moving average of $325.23. The company has a market capitalization of $3.91 billion, a PE ratio of 6.17 and a beta of 1.38. Alpha Metallurgical Resources has a 1 year low of $132.72 and a 1 year high of $452.00.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings results on Monday, May 6th. The energy company reported $9.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.61 by ($0.02). The firm had revenue of $864.07 million during the quarter, compared to the consensus estimate of $845.35 million. Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $17.01 earnings per share. Equities analysts anticipate that Alpha Metallurgical Resources will post 29.82 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kenneth S. Courtis sold 22,802 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $302.81, for a total transaction of $6,904,673.62. Following the completion of the sale, the director now directly owns 638,234 shares in the company, valued at approximately $193,263,637.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director David J. Stetson sold 30,694 shares of the business’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 completion of the transaction, the director now owns 26,054 shares of the company’s stock, valued at approximately $10,220,984.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth S. Courtis sold 22,802 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $302.81, for a total value of $6,904,673.62. Following the transaction, the director now directly owns 638,234 shares of the company’s stock, valued at approximately $193,263,637.54. The disclosure for this sale can be found here. In the last three months, insiders sold 153,971 shares of company stock worth $55,479,986. 16.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of institutional investors have recently modified their holdings of the business. Stratos Wealth Advisors LLC raised its holdings in shares of Alpha Metallurgical Resources by 0.5% during the 4th quarter. Stratos Wealth Advisors LLC now owns 6,631 shares of the energy company’s stock worth $2,247,000 after buying an additional 31 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Alpha Metallurgical Resources by 0.7% during the 4th quarter. SummerHaven Investment Management LLC now owns 4,802 shares of the energy company’s stock worth $1,627,000 after buying an additional 35 shares in the last quarter. Measured Wealth Private Client Group LLC raised its holdings in shares of Alpha Metallurgical Resources by 5.0% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 819 shares of the energy company’s stock worth $271,000 after buying an additional 39 shares in the last quarter. American International Group Inc. increased its holdings in Alpha Metallurgical Resources by 1.1% in the 4th quarter. American International Group Inc. now owns 6,300 shares of the energy company’s stock worth $2,135,000 after purchasing an additional 67 shares in the last quarter. Finally, Meritage Portfolio Management increased its holdings in Alpha Metallurgical Resources by 5.6% in the 3rd quarter. Meritage Portfolio Management now owns 1,724 shares of the energy company’s stock worth $448,000 after purchasing an additional 92 shares in 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.