Alpha Metallurgical Resources (NYSE:AMR) Price Target Cut to $336.00

Alpha Metallurgical Resources (NYSE:AMR) had its target price reduced by research analysts at B. Riley from $374.00 to $336.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. B. Riley’s price target indicates a potential upside of 72.56% from the company’s previous close.

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

AMR stock traded down $8.79 during mid-day trading on Friday, hitting $194.72. The company had a trading volume of 192,607 shares, compared to its average volume of 220,698. The firm has a market cap of $2.53 billion, a PE ratio of 4.72 and a beta of 1.30. Alpha Metallurgical Resources has a 12 month low of $193.00 and a 12 month high of $452.00. The stock’s fifty day moving average price is $273.18 and its two-hundred day moving average price is $306.27.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings data on Monday, August 5th. The energy company reported $4.49 EPS for the quarter, topping the consensus estimate 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 for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $12.16 earnings per share. Equities analysts anticipate that Alpha Metallurgical Resources will post 26.33 earnings per share for the current year.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several hedge funds have recently bought and sold shares of AMR. Federated Hermes Inc. purchased a new position in Alpha Metallurgical Resources in the 2nd quarter worth approximately $25,000. Quadrant Capital Group LLC purchased a new position in Alpha Metallurgical Resources in the 4th quarter worth approximately $35,000. Creekmur Asset Management LLC purchased a new position in Alpha Metallurgical Resources in the 4th quarter worth approximately $36,000. PNC Financial Services Group Inc. grew its stake in Alpha Metallurgical Resources by 947.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 178 shares of the energy company’s stock worth $60,000 after buying an additional 161 shares in the last quarter. Finally, FinTrust Capital Advisors LLC purchased a new position in Alpha Metallurgical Resources in the 4th quarter worth approximately $64,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

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.