B. Riley Financial Cuts Alpha Metallurgical Resources (NYSE:AMR) Price Target to $189.00

Alpha Metallurgical Resources (NYSE:AMR) had its price target cut by B. Riley Financial from $194.00 to $189.00 in a research report report published on Tuesday,Benzinga reports. They currently have a neutral rating on the energy company’s stock.

Several other research firms also recently weighed in on AMR. Atlantic Securities set a $194.00 target price on shares of Alpha Metallurgical Resources in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Wednesday, June 24th. Zacks Research lowered shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. UBS Group assumed coverage on shares of Alpha Metallurgical Resources in a research report on Friday, July 10th. They issued a “neutral” rating and a $165.00 price target on the stock. Finally, Jefferies Financial Group reissued a “hold” rating and set a $160.00 price objective on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 21st. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $177.00.

Alpha Metallurgical Resources Stock Up 3.3%

Alpha Metallurgical Resources stock opened at $143.74 on Tuesday. Alpha Metallurgical Resources has a fifty-two week low of $113.00 and a fifty-two week high of $253.82. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of -47.91 and a beta of 0.63. The stock’s fifty day moving average is $171.71 and its two-hundred day moving average is $188.54. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.81 and a current ratio of 3.67.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings results on Friday, May 8th. The energy company reported ($0.86) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.86). Alpha Metallurgical Resources had a negative return on equity of 2.47% and a negative net margin of 1.83%.The business had revenue of $447.32 million during the quarter, compared to the consensus estimate of $535.15 million. During the same quarter in the previous year, the company posted ($2.60) EPS. The business’s revenue was down 1.3% on a year-over-year basis. Analysts predict that Alpha Metallurgical Resources will post 0.2 EPS for the current fiscal year.

Insider Activity at Alpha Metallurgical Resources

In related news, COO Jason E. Whitehead sold 3,901 shares of Alpha Metallurgical Resources stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $212.28, for a total transaction of $828,104.28. Following the completion of the sale, the chief operating officer owned 10,450 shares in the company, valued at approximately $2,218,326. This trade represents a 27.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth S. Courtis bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average cost of $200.73 per share, with a total value of $2,007,300.00. Following the purchase, the director directly owned 985,394 shares in the company, valued at $197,798,137.62. The trade was a 1.03% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several hedge funds have recently modified their holdings of the company. State Street Corp raised its position in shares of Alpha Metallurgical Resources by 27.2% in the second quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after buying an additional 185,281 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Alpha Metallurgical Resources by 5.6% during the first quarter. Dimensional Fund Advisors LP now owns 721,872 shares of the energy company’s stock worth $148,192,000 after acquiring an additional 38,300 shares during the last quarter. Continental General Insurance Co. boosted its position in Alpha Metallurgical Resources by 6.4% during the fourth quarter. Continental General Insurance Co. now owns 644,025 shares of the energy company’s stock worth $128,728,000 after acquiring an additional 38,576 shares during the last quarter. Dalal Street LLC grew its stake in Alpha Metallurgical Resources by 2.1% in the 4th quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock worth $108,535,000 after acquiring an additional 11,000 shares during the period. Finally, Gendell Jeffrey L grew its stake in Alpha Metallurgical Resources by 4.0% in the 4th quarter. Gendell Jeffrey L now owns 494,072 shares of the energy company’s stock worth $98,755,000 after acquiring an additional 19,033 shares during the period. 84.29% of the stock is owned by institutional investors and hedge funds.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc (NYSE: AMR) is a leading pure-play producer of high-grade metallurgical coal, primarily serving the global steelmaking industry. Headquartered in Bristol, Virginia, the company operates multiple underground and surface mining complexes across the central Appalachian and Illinois basins. Its production portfolio focuses on premium raw and semi-soft coking coal products tailored to meet the specifications of steel producers worldwide.

Formed in July 2021 through the spin-out of Contura Energy’s metallurgical coal business, Alpha Metallurgical Resources has built a reputation for operational excellence and cost-efficient mining.