Alpha Metallurgical Resources (NYSE:AMR) Given New $336.00 Price Target at B. Riley

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

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

Alpha Metallurgical Resources Stock Performance

Alpha Metallurgical Resources stock opened at $197.04 on Friday. Alpha Metallurgical Resources has a fifty-two week low of $193.00 and a fifty-two week high of $452.00. The firm’s 50-day simple moving average is $270.08 and its 200 day simple moving average is $304.33. The stock has a market cap of $2.56 billion, a PE ratio of 4.77 and a beta of 1.30.

Alpha Metallurgical Resources (NYSE:AMR) last announced 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 firm had revenue of $804.00 million for the quarter, compared to the consensus estimate of $733.05 million. Alpha Metallurgical Resources had a return on equity of 28.63% and a net margin of 13.52%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $12.16 EPS. As a group, analysts predict that Alpha Metallurgical Resources will post 26.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Alpha Metallurgical Resources

A number of hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. grew its holdings in Alpha Metallurgical Resources by 523.6% during the fourth quarter. Principal Financial Group Inc. now owns 75,966 shares of the energy company’s stock valued at $25,746,000 after purchasing an additional 63,784 shares during the period. Amalgamated Bank lifted 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 buying an additional 3,187 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Alpha Metallurgical Resources by 19.3% during the 1st quarter. Janus Henderson Group PLC now owns 27,174 shares of the energy company’s stock worth $8,998,000 after acquiring an additional 4,387 shares during the period. Norges Bank bought a new position in shares of Alpha Metallurgical Resources during the 4th quarter worth $21,900,000. Finally, Wellington Management Group LLP increased its holdings in Alpha Metallurgical Resources by 5.8% in the 4th quarter. Wellington Management Group LLP now owns 50,053 shares of the energy company’s stock worth $16,964,000 after acquiring an additional 2,754 shares during the last quarter. 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.