Alpha Metallurgical Resources (NYSE:AMR) Price Target Cut to $336.00 by Analysts at B. Riley

Alpha Metallurgical Resources (NYSE:AMR) had its price objective trimmed by B. Riley from $374.00 to $336.00 in a report released on Friday, Benzinga reports. The brokerage currently has a buy rating on the energy company’s stock.

Separately, Benchmark reissued a hold rating on shares of Alpha Metallurgical Resources in a report on Tuesday, August 6th.

Alpha Metallurgical Resources Price Performance

AMR stock opened at $197.05 on Friday. The stock has a market capitalization of $2.56 billion, a P/E ratio of 4.77 and a beta of 1.30. Alpha Metallurgical Resources has a 1-year low of $193.00 and a 1-year high of $452.00. The business has a fifty day moving average price of $271.74 and a 200-day moving average price of $305.56.

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

Hedge Funds Weigh In On Alpha Metallurgical Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its holdings in Alpha Metallurgical Resources by 132.6% during the fourth quarter. Russell Investments Group Ltd. now owns 4,792 shares of the energy company’s stock valued at $1,624,000 after buying an additional 2,732 shares during the last quarter. Amalgamated Bank grew its position in shares of Alpha Metallurgical Resources by 244.0% during the 4th quarter. Amalgamated Bank now owns 4,493 shares of the energy company’s stock valued at $1,523,000 after acquiring an additional 3,187 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Alpha Metallurgical Resources by 3.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 725,152 shares of the energy company’s stock worth $245,778,000 after purchasing an additional 22,856 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Alpha Metallurgical Resources by 523.6% in the 4th 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 period. Finally, Janney Montgomery Scott LLC lifted its position in Alpha Metallurgical Resources by 10.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 2,172 shares of the energy company’s stock valued at $736,000 after purchasing an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.

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.