Alpha Metallurgical Resources (NYSE:AMR) Given New $375.00 Price Target at B. Riley

Alpha Metallurgical Resources (NYSE:AMR) had its price target increased by B. Riley from $374.00 to $375.00 in a report published on Tuesday, Benzinga reports. B. Riley 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 research report on Tuesday.

Alpha Metallurgical Resources Trading Up 2.7 %

Shares of NYSE AMR opened at $304.61 on Tuesday. The stock has a fifty day simple moving average of $332.04 and a two-hundred day simple moving average of $325.40. Alpha Metallurgical Resources has a 1-year low of $132.72 and a 1-year high of $452.00. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 6.25 and a beta of 1.38.

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

Insider Activity at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, Director David J. Stetson sold 30,694 shares of Alpha Metallurgical Resources 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 completion of the transaction, the director now owns 26,054 shares of the company’s stock, valued at approximately $10,220,984.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Roger Lee Nicholson sold 6,629 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $369.71, for a total value of $2,450,807.59. Following the transaction, the chief accounting officer now owns 10,720 shares of the company’s stock, valued at $3,963,291.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David J. Stetson sold 30,694 shares of the stock in a transaction 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 owns 26,054 shares in the company, valued at approximately $10,220,984.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,971 shares of company stock worth $55,479,986. 16.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of institutional investors have recently added to or reduced their stakes in AMR. Raymond James & Associates grew its holdings in shares of Alpha Metallurgical Resources by 203.8% during the third quarter. Raymond James & Associates now owns 9,546 shares of the energy company’s stock worth $2,479,000 after purchasing an additional 6,404 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Alpha Metallurgical Resources by 20.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,376 shares of the energy company’s stock worth $617,000 after buying an additional 396 shares in the last quarter. Meritage Portfolio Management increased its holdings in shares of Alpha Metallurgical Resources by 5.6% in the 3rd quarter. Meritage Portfolio Management now owns 1,724 shares of the energy company’s stock worth $448,000 after buying an additional 92 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of Alpha Metallurgical Resources during the 3rd quarter valued at $259,000. Finally, Principal Financial Group Inc. raised its position in shares of Alpha Metallurgical Resources by 52.5% during the 3rd quarter. Principal Financial Group Inc. now owns 12,182 shares of the energy company’s stock valued at $3,164,000 after buying an additional 4,193 shares in 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.