Alpha Metallurgical Resources (NYSE:AMR) Given New $181.00 Price Target at B. Riley

Alpha Metallurgical Resources (NYSE:AMR) had its price objective trimmed by B. Riley from $183.00 to $181.00 in a report published on Thursday,Benzinga reports. The firm currently has a buy rating on the energy company’s stock.

Alpha Metallurgical Resources Trading Down 0.6%

AMR stock opened at $121.40 on Thursday. The stock has a market capitalization of $1.58 billion, a P/E ratio of 4.46 and a beta of 0.72. Alpha Metallurgical Resources has a 12 month low of $100.00 and a 12 month high of $334.72. The firm has a 50-day moving average price of $123.43 and a 200-day moving average price of $173.48.

Alpha Metallurgical Resources (NYSE:AMR) last released its earnings results on Friday, May 9th. The energy company reported ($2.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($1.54). Alpha Metallurgical Resources had a net margin of 11.08% and a return on equity of 22.65%. The firm had revenue of $531.96 million for the quarter, compared to analyst estimates of $586.15 million. During the same period in the prior year, the company posted $9.59 EPS. The business’s revenue for the quarter was down 38.4% compared to the same quarter last year. As a group, equities analysts predict that Alpha Metallurgical Resources will post 14.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Alpha Metallurgical Resources

A number of hedge funds have recently made changes to their positions in AMR. Barclays PLC raised its stake in shares of Alpha Metallurgical Resources by 309.2% during the 3rd quarter. Barclays PLC now owns 18,646 shares of the energy company’s stock worth $4,402,000 after purchasing an additional 14,089 shares during the period. FNY Investment Advisers LLC purchased a new stake in Alpha Metallurgical Resources in the 4th quarter worth about $50,000. Wedge Capital Management L L P NC increased its holdings in Alpha Metallurgical Resources by 11.4% in the 4th quarter. Wedge Capital Management L L P NC now owns 4,247 shares of the energy company’s stock worth $850,000 after acquiring an additional 435 shares during the last quarter. SG Americas Securities LLC increased its holdings in Alpha Metallurgical Resources by 7.3% in the 4th quarter. SG Americas Securities LLC now owns 2,751 shares of the energy company’s stock worth $551,000 after acquiring an additional 187 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Alpha Metallurgical Resources by 2.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 8,974 shares of the energy company’s stock worth $1,796,000 after acquiring an additional 219 shares during the last quarter. 84.29% of the stock is currently 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.