B. Riley Boosts Alpha Metallurgical Resources (NYSE:AMR) Price Target to $375.00

Alpha Metallurgical Resources (NYSE:AMR) had its price objective upped by B. Riley from $374.00 to $375.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. B. Riley’s price objective points to a potential upside of 24.80% from the stock’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 reiterated a “hold” rating on shares of Alpha Metallurgical Resources in a report on Tuesday.

Alpha Metallurgical Resources Trading Down 1.3 %

AMR opened at $300.49 on Tuesday. The company has a market cap of $3.91 billion, a P/E ratio of 6.17 and a beta of 1.38. The business’s 50-day moving average price is $330.80 and its 200-day moving average price is $325.23. Alpha Metallurgical Resources has a 12 month low of $132.72 and a 12 month high of $452.00.

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

Insider Activity at Alpha Metallurgical Resources

In related news, Director David J. Stetson sold 30,694 shares of the business’s stock in a transaction dated 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 owns 26,054 shares in the company, valued at approximately $10,220,984.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director David J. Stetson sold 30,694 shares of the business’s stock in a transaction dated 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 owns 26,054 shares in the company, valued at approximately $10,220,984.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kenneth S. Courtis sold 22,802 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $302.81, for a total value of $6,904,673.62. Following the transaction, the director now owns 638,234 shares in the company, valued at approximately $193,263,637.54. The disclosure for this sale can be found here. Insiders have sold a total of 153,971 shares of company stock worth $55,479,986 in the last 90 days. Company insiders own 16.40% of the company’s stock.

Institutional Trading of Alpha Metallurgical Resources

Several large investors have recently bought and sold shares of the company. ProShare Advisors LLC boosted its position in Alpha Metallurgical Resources by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 2,336 shares of the energy company’s stock valued at $774,000 after acquiring an additional 160 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Alpha Metallurgical Resources by 15.8% during the 1st quarter. Russell Investments Group Ltd. now owns 5,549 shares of the energy company’s stock valued at $1,838,000 after acquiring an additional 757 shares in the last quarter. Headlands Technologies LLC bought a new stake in Alpha Metallurgical Resources during the 1st quarter valued at approximately $88,000. SG Americas Securities LLC bought a new stake in Alpha Metallurgical Resources during the 1st quarter valued at approximately $356,000. Finally, Empowered Funds LLC boosted its position in Alpha Metallurgical Resources by 85.5% during the 1st quarter. Empowered Funds LLC now owns 41,555 shares of the energy company’s stock valued at $13,762,000 after acquiring an additional 19,154 shares in the last quarter. 84.29% of the stock is owned by 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.