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

Alpha Metallurgical Resources (NYSE:AMR) had its price target lowered by B. Riley from $381.00 to $374.00 in a report issued on Monday, Benzinga reports. The brokerage 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 Trading Down 2.0 %

Shares of Alpha Metallurgical Resources stock opened at $342.25 on Monday. The stock has a 50 day moving average of $348.56 and a 200 day moving average of $316.05. Alpha Metallurgical Resources has a 12 month low of $132.72 and a 12 month high of $452.00. The firm has a market cap of $4.45 billion, a PE ratio of 7.03 and a beta of 1.35.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Monday, February 26th. The energy company reported $12.88 EPS for the quarter, beating analysts’ consensus estimates of $8.78 by $4.10. The company had revenue of $959.90 million during the quarter, compared to analyst estimates of $796.65 million. Alpha Metallurgical Resources had a return on equity of 46.22% and a net margin of 20.80%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company earned $13.37 earnings per share. As a group, equities research analysts forecast 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 firm’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 value of $12,041,256.20. Following the completion of the sale, the director now directly owns 26,054 shares of the company’s stock, valued at approximately $10,220,984.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director David J. Stetson sold 30,694 shares of the firm’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 value of $12,041,256.20. Following the completion of the sale, the director now directly owns 26,054 shares of the company’s stock, valued at approximately $10,220,984.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Andrew Eidson sold 30,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 50,025 shares of the company’s stock, valued at $18,162,076.50. The disclosure for this sale can be found here. Insiders sold 153,971 shares of company stock valued at $55,479,986 in the last ninety days. Insiders own 16.40% of the company’s stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC bought a new stake in shares of Alpha Metallurgical Resources during the 4th quarter worth approximately $33,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Alpha Metallurgical Resources during the 4th quarter worth approximately $34,000. Quadrant Capital Group LLC bought a new stake in shares of Alpha Metallurgical Resources during the 4th quarter worth approximately $35,000. Creekmur Asset Management LLC bought a new stake in shares of Alpha Metallurgical Resources during the 4th quarter worth approximately $36,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Alpha Metallurgical Resources during the 3rd quarter worth approximately $41,000. 84.29% of the stock is owned by institutional investors.

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.