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

Alpha Metallurgical Resources (NYSE:AMR) had its target price decreased by B. Riley from $374.00 to $336.00 in a research note published on Friday morning, 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, August 6th.

Alpha Metallurgical Resources Stock Performance

Shares of Alpha Metallurgical Resources stock opened at $197.05 on Friday. Alpha Metallurgical Resources has a 52-week low of $193.00 and a 52-week high of $452.00. The company’s 50 day moving average price is $271.74 and its 200-day moving average price is $305.56. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 4.77 and a beta of 1.30.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in shares of Alpha Metallurgical Resources by 132.6% in the 4th quarter. Russell Investments Group Ltd. now owns 4,792 shares of the energy company’s stock worth $1,624,000 after acquiring an additional 2,732 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Alpha Metallurgical Resources by 244.0% during the fourth quarter. Amalgamated Bank now owns 4,493 shares of the energy company’s stock valued at $1,523,000 after purchasing an additional 3,187 shares during the last quarter. Dimensional Fund Advisors LP boosted its position 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. grew its stake in shares of 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 buying an additional 63,784 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Alpha Metallurgical Resources by 10.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 2,172 shares of the energy company’s stock valued at $736,000 after buying 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.