Alpha Metallurgical Resources (NYSE:AMR) Given New $185.00 Price Target at B. Riley Financial

Key Points

• B. Riley Financial cut Alpha Metallurgical Resources’ price target from $189 to $185 and maintained a “neutral” rating, implying approximately 5.2% downside from the stock’s current price.
• Analyst sentiment remains cautious: six analysts rate the stock “hold” and one rates it “sell,” resulting in a consensus “reduce” rating and a $176 average price target.
• Alpha Metallurgical Resources reported a quarterly loss of $0.96 per share, narrowly beating estimates, but revenue fell 10.4% year over year to $421.3 million, below analysts’ $521.6 million forecast.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) had its price objective cut by investment analysts at B. Riley Financial from $189.00 to $185.00 in a report released on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the energy company's stock. B. Riley Financial's target price suggests a potential downside of 5.19% from the stock's current price.

Several other research firms have also weighed in on AMR. Zacks Research upgraded shares of Alpha Metallurgical Resources from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. Weiss Ratings downgraded shares of Alpha Metallurgical Resources from a "sell (d)" rating to a "sell (e+)" rating in a report on Tuesday, August 11th. Wall Street Zen downgraded Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Jefferies Financial Group restated a "hold" rating and set a $160.00 price objective on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Finally, Atlantic Securities set a $194.00 price objective on shares of Alpha Metallurgical Resources in a report on Thursday, April 30th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Alpha Metallurgical Resources currently has a consensus rating of "Reduce" and a consensus price target of $176.00.

Alpha Metallurgical Resources Price Performance

AMR stock opened at $195.13 on Thursday. The company has a market capitalization of $2.47 billion, a P/E ratio of -54.51 and a beta of 0.65. Alpha Metallurgical Resources has a 52-week low of $133.64 and a 52-week high of $253.82. The business has a 50-day simple moving average of $159.28 and a two-hundred day simple moving average of $180.91. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 3.41.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) EPS for the quarter, beating analysts' consensus estimates of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%.The business had revenue of $421.29 million during the quarter, compared to analyst estimates of $521.61 million. During the same period in the prior year, the firm posted ($0.38) EPS. Alpha Metallurgical Resources's quarterly revenue was down 10.4% compared to the same quarter last year. Research analysts expect that Alpha Metallurgical Resources will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, EVP Mark Matthew Manno sold 460 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $214.64, for a total transaction of $98,734.40. Following the sale, the executive vice president owned 3,966 shares in the company, valued at approximately $851,262.24. This trade represents a 10.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth S. Courtis purchased 10,000 shares of the company's stock in a transaction on Friday, June 12th. The stock was purchased at an average price of $200.73 per share, with a total value of $2,007,300.00. Following the completion of the transaction, the director owned 985,394 shares of the company's stock, valued at approximately $197,798,137.62. This trade represents a 1.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 18.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Alpha Metallurgical Resources in the 2nd quarter worth approximately $299,230,000. State Street Corp lifted its holdings 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 worth $97,400,000 after buying an additional 185,281 shares in the last quarter. Goehring & Rozencwajg Associates LLC boosted its position in shares of Alpha Metallurgical Resources by 206.8% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company's stock worth $49,683,000 after acquiring an additional 163,144 shares during the last quarter. Millennium Management LLC boosted its position in shares of Alpha Metallurgical Resources by 208.0% during the first quarter. Millennium Management LLC now owns 106,107 shares of the energy company's stock worth $13,290,000 after acquiring an additional 71,653 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Alpha Metallurgical Resources during the second quarter valued at $10,969,000. 84.29% of the stock is owned by institutional investors.

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.

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