Research Analysts Issue Forecasts for AMR FY2024 Earnings

Alpha Metallurgical Resources, Inc. (NYSE:AMR) – Equities research analysts at B. Riley cut their FY2024 earnings per share (EPS) estimates for Alpha Metallurgical Resources in a report released on Tuesday, November 5th. B. Riley analyst L. Pipes now forecasts that the energy company will post earnings of $16.87 per share for the year, down from their prior forecast of $18.02. B. Riley has a “Buy” rating and a $336.00 price objective on the stock. The consensus estimate for Alpha Metallurgical Resources’ current full-year earnings is $17.89 per share. B. Riley also issued estimates for Alpha Metallurgical Resources’ Q4 2024 earnings at $2.49 EPS.

Separately, Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday.

Alpha Metallurgical Resources Stock Performance

NYSE AMR opened at $241.88 on Thursday. The stock has a market cap of $3.15 billion, a PE ratio of 8.88 and a beta of 1.33. The firm has a 50-day moving average of $216.45 and a 200-day moving average of $265.82. Alpha Metallurgical Resources has a 52-week low of $185.00 and a 52-week high of $452.00.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Friday, November 1st. The energy company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($1.31). Alpha Metallurgical Resources had a net margin of 11.08% and a return on equity of 22.65%. The business had revenue of $671.90 million for the quarter, compared to analyst estimates of $672.95 million. During the same period in the prior year, the business earned $6.65 EPS. The company’s revenue for the quarter was down 9.4% compared to the same quarter last year.

Institutional Trading of Alpha Metallurgical Resources

Several institutional investors have recently added to or reduced their stakes in AMR. Federated Hermes Inc. acquired a new stake in shares of Alpha Metallurgical Resources during the second quarter worth $25,000. GAMMA Investing LLC increased its position in Alpha Metallurgical Resources by 124.6% during the third quarter. GAMMA Investing LLC now owns 137 shares of the energy company’s stock worth $32,000 after acquiring an additional 76 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Alpha Metallurgical Resources in the 3rd quarter worth about $36,000. Sound Income Strategies LLC bought a new stake in Alpha Metallurgical Resources in the 3rd quarter valued at about $40,000. Finally, Headlands Technologies LLC acquired a new position in shares of Alpha Metallurgical Resources during the 1st quarter worth approximately $88,000. 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.