Alpha Metallurgical Resources (NYSE:AMR) Price Target Cut to $336.00

Alpha Metallurgical Resources (NYSE:AMR) had its price target reduced by B. Riley from $374.00 to $336.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. B. Riley’s price objective suggests a potential upside of 70.52% from the company’s current price.

Separately, Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Tuesday, August 6th.

Alpha Metallurgical Resources Stock Down 3.2 %

NYSE:AMR opened at $197.04 on Friday. Alpha Metallurgical Resources has a twelve month low of $193.00 and a twelve month high of $452.00. The company has a fifty day moving average of $270.08 and a 200-day moving average of $304.33. The firm has a market capitalization of $2.56 billion, a P/E ratio of 4.77 and a beta of 1.30.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings results on Monday, August 5th. The energy company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.03. The firm had revenue of $804.00 million during the quarter, compared to the consensus estimate of $733.05 million. Alpha Metallurgical Resources had a net margin of 13.52% and a return on equity of 28.63%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $12.16 earnings per share. On average, analysts anticipate that Alpha Metallurgical Resources will post 26.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. increased its position in shares of Alpha Metallurgical Resources by 22.2% during the second quarter. Pacer Advisors Inc. now owns 613,208 shares of the energy company’s stock worth $172,023,000 after acquiring an additional 111,504 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Alpha Metallurgical Resources during the 1st quarter worth approximately $32,999,000. Norges Bank bought a new stake in Alpha Metallurgical Resources during the 4th quarter worth approximately $21,900,000. Principal Financial Group Inc. raised its stake in shares of Alpha Metallurgical Resources by 523.6% in the fourth quarter. Principal Financial Group Inc. now owns 75,966 shares of the energy company’s stock worth $25,746,000 after purchasing an additional 63,784 shares during the last quarter. Finally, Gendell Jeffrey L lifted its holdings in shares of Alpha Metallurgical Resources by 21.8% in the first quarter. Gendell Jeffrey L now owns 350,125 shares of the energy company’s stock valued at $115,951,000 after purchasing an additional 62,725 shares in the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

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.