Alpha Metallurgical Resources (NYSE:AMR) Price Target Cut to $171.00 by Analysts at B. Riley

Key Points

• Analysts at B. Riley have decreased the price target for Alpha Metallurgical Resources from $173.00 to $171.00, while maintaining a "buy" rating, indicating a potential upside of 38.56% from the company's previous close.
• Alpha Metallurgical Resources reported a significant drop in quarterly earnings, with an earnings per share (EPS) of ($2.60), missing expectations of ($1.06) and showing a year-over-year revenue decline of 38.4%.
• Institutional investors hold 84.29% of Alpha Metallurgical Resources stock, with notable increases in stakes from various hedge funds in the recent quarter.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) had its price target lowered by equities research analysts at B. Riley from $173.00 to $171.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the energy company's stock. B. Riley's price target points to a potential upside of 38.56% from the company's previous close.

Other research analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Jefferies Financial Group began coverage on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 1st. They issued a "hold" rating and a $110.00 price objective for the company.

Alpha Metallurgical Resources Stock Performance

Alpha Metallurgical Resources stock traded up $4.79 during mid-day trading on Tuesday, reaching $123.41. The company's stock had a trading volume of 111,670 shares, compared to its average volume of 319,551. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 61.09 and a beta of 0.59. Alpha Metallurgical Resources has a 12 month low of $97.41 and a 12 month high of $259.20. The business's 50 day simple moving average is $115.75 and its 200 day simple moving average is $132.51.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The energy company reported ($2.60) EPS for the quarter, missing analysts' consensus estimates of ($1.06) by ($1.54). Alpha Metallurgical Resources had a net margin of 1.01% and a return on equity of 1.62%. The firm had revenue of $531.96 million during the quarter, compared to the consensus estimate of $586.15 million. During the same period last year, the business earned $9.59 EPS. The business's revenue was down 38.4% on a year-over-year basis. As a group, sell-side analysts expect that Alpha Metallurgical Resources will post 14.31 EPS for the current year.

Institutional Trading of Alpha Metallurgical Resources

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in Alpha Metallurgical Resources by 11,100.3% in the 1st quarter. GAMMA Investing LLC now owns 34,945 shares of the energy company's stock worth $4,377,000 after purchasing an additional 34,633 shares in the last quarter. Mutual Advisors LLC acquired a new position in Alpha Metallurgical Resources in the 1st quarter valued at approximately $603,000. SG Americas Securities LLC boosted its stake in shares of Alpha Metallurgical Resources by 204.5% in the 1st quarter. SG Americas Securities LLC now owns 8,376 shares of the energy company's stock valued at $1,049,000 after purchasing an additional 5,625 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Alpha Metallurgical Resources by 40.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,385 shares of the energy company's stock valued at $173,000 after purchasing an additional 397 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. grew its holdings in Alpha Metallurgical Resources by 31.3% in the first quarter. Mraz Amerine & Associates Inc. now owns 12,228 shares of the energy company's stock worth $1,547,000 after purchasing an additional 2,913 shares during the period. 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.

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