B. Riley Increases Alpha Metallurgical Resources (NYSE:AMR) Price Target to $375.00

Alpha Metallurgical Resources (NYSE:AMR) had its price objective upped by analysts at B. Riley from $374.00 to $375.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. B. Riley’s price target suggests a potential upside of 23.07% from the company’s previous close.

Separately, Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Tuesday.

Alpha Metallurgical Resources Stock Performance

Shares of Alpha Metallurgical Resources stock traded up $8.07 during trading hours on Tuesday, reaching $304.71. The company’s stock had a trading volume of 121,749 shares, compared to its average volume of 239,632. The company’s 50 day simple moving average is $334.71 and its 200 day simple moving average is $324.80. Alpha Metallurgical Resources has a one year low of $132.72 and a one year high of $452.00. The stock has a market cap of $3.96 billion, a P/E ratio of 6.23 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 (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $864.07 million during the quarter, compared to the consensus estimate of $845.35 million. During the same quarter in the previous year, the business posted $17.01 earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Alpha Metallurgical Resources will post 29.82 earnings per share for the current fiscal year.

Insider Activity at Alpha Metallurgical Resources

In related news, insider Daniel E. Horn sold 100 shares of Alpha Metallurgical Resources stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $360.29, for a total value of $36,029.00. Following the sale, the insider now directly owns 6,462 shares in the company, valued at approximately $2,328,193.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alpha Metallurgical Resources news, insider Daniel E. Horn sold 100 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $360.29, for a total transaction of $36,029.00. Following the sale, the insider now directly owns 6,462 shares in the company, valued at approximately $2,328,193.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Roger Lee Nicholson sold 6,629 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $369.71, for a total transaction of $2,450,807.59. Following the sale, the chief accounting officer now owns 10,720 shares in the company, valued at $3,963,291.20. The disclosure for this sale can be found here. Insiders have sold a total of 153,971 shares of company stock worth $55,479,986 in the last ninety days. 16.40% of the stock is owned by insiders.

Institutional Trading of Alpha Metallurgical Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue bought a new stake in shares of Alpha Metallurgical Resources during the 4th quarter worth about $2,465,000. Raymond James & Associates lifted its stake in Alpha Metallurgical Resources by 203.8% during the third quarter. Raymond James & Associates now owns 9,546 shares of the energy company’s stock valued at $2,479,000 after purchasing an additional 6,404 shares during the last quarter. Illinois Municipal Retirement Fund bought a new stake in Alpha Metallurgical Resources during the fourth quarter worth approximately $2,302,000. Invesco Ltd. grew its position in Alpha Metallurgical Resources by 180.9% in the third quarter. Invesco Ltd. now owns 115,816 shares of the energy company’s stock worth $30,081,000 after buying an additional 74,583 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in shares of Alpha Metallurgical Resources in the fourth quarter valued at $2,000,000. 84.29% of the stock is currently owned by institutional investors.

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.