Alpha Metallurgical Resources (NYSE:AMR) Given New $189.00 Price Target at B. Riley Financial

Key Points

• B. Riley Financial lowered Alpha Metallurgical Resources’ price target to $189 from $194 while maintaining a neutral rating, implying roughly 30% upside from the $145.44 share price.
• Analyst sentiment remains cautious: MarketBeat reports a consensus “Reduce” rating, based on five Holds and two Sells, with an average price target of $177.
• Alpha Metallurgical Resources matched quarterly EPS estimates at a loss of $0.86, but revenue of $447.32 million fell short of expectations and declined 1.3% year over year.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) had its price objective dropped by equities researchers at B. Riley Financial from $194.00 to $189.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the energy company's stock. B. Riley Financial's target price indicates a potential upside of 29.95% from the company's current price.

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

Alpha Metallurgical Resources Price Performance

Shares of AMR opened at $145.44 on Tuesday. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -48.48 and a beta of 0.63. Alpha Metallurgical Resources has a twelve month low of $113.00 and a twelve month high of $253.82. The company has a quick ratio of 2.81, a current ratio of 3.67 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $173.61 and a two-hundred day moving average of $190.43.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) 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 net margin of 1.83% and a negative return on equity of 2.47%. The business had revenue of $447.32 million for the quarter, compared to analyst estimates of $535.15 million. During the same period in the previous year, the company earned ($2.60) earnings per share. The business's revenue for the quarter was down 1.3% on a year-over-year basis. As a group, analysts predict that Alpha Metallurgical Resources will post 8.21 earnings per share for the current fiscal year.

Insider Transactions at Alpha Metallurgical Resources

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

Institutional Trading of Alpha Metallurgical Resources

Several large investors have recently added to or reduced their stakes in the company. Dalal Street LLC lifted its holdings in shares of Alpha Metallurgical Resources by 2.1% during the fourth quarter. Dalal Street LLC now owns 543,000 shares of the energy company's stock worth $108,535,000 after purchasing an additional 11,000 shares during the period. Kettle Hill Capital Management LLC acquired a new position in Alpha Metallurgical Resources in the 4th quarter worth approximately $4,823,000. Marnell Management LLC acquired a new position in Alpha Metallurgical Resources in the 4th quarter worth approximately $1,116,000. Impala Asset Management LLC acquired a new position in Alpha Metallurgical Resources in the 4th quarter worth approximately $4,397,000. Finally, Goehring & Rozencwajg Associates LLC raised its position in Alpha Metallurgical Resources by 206.8% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company's stock worth $49,683,000 after buying an additional 163,144 shares during 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 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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