Alpha Metallurgical Resources (NYSE:AMR) Price Target Raised to $150.00

Key Points

• Jefferies Financial Group raised its price target for Alpha Metallurgical Resources from $110.00 to $150.00, maintaining a "hold" rating despite a potential downside from the current stock price.
• The company reported ($0.38) earnings per share for the last quarter, which beat the analysts' consensus estimates, although revenue fell 31.6% year-over-year.
• Institutional investors own a significant portion of Alpha Metallurgical Resources, with 84.29% of the company's stock held by hedge funds and other institutions, indicating strong institutional interest.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) had its price objective lifted by analysts at Jefferies Financial Group from $110.00 to $150.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the energy company's stock. Jefferies Financial Group's price target suggests a potential downside of 0.07% from the company's previous close.

Other equities research analysts have also issued research reports about the company. B. Riley lowered their target price on Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. Wall Street Zen lowered Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Alpha Metallurgical Resources Stock Performance

AMR stock opened at $150.11 on Monday. Alpha Metallurgical Resources has a 1 year low of $97.41 and a 1 year high of $259.00. The firm has a market cap of $1.96 billion, a P/E ratio of -52.67 and a beta of 0.59. The stock has a 50-day simple moving average of $117.09 and a 200-day simple moving average of $130.24.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its earnings results on Friday, August 8th. The energy company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.38) by $2.00. Alpha Metallurgical Resources had a negative return on equity of 2.28% and a negative net margin of 1.57%. The business had revenue of $550.27 million during the quarter, compared to analyst estimates of $552.15 million. During the same quarter last year, the firm earned $4.49 earnings per share. The company's revenue for the quarter was down 31.6% compared to the same quarter last year. On average, equities research analysts predict that Alpha Metallurgical Resources will post 14.31 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Signaturefd LLC grew its position in shares of Alpha Metallurgical Resources by 306.1% in the 1st quarter. Signaturefd LLC now owns 199 shares of the energy company's stock worth $25,000 after acquiring an additional 150 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of Alpha Metallurgical Resources by 214.3% in the 1st quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company's stock worth $28,000 after acquiring an additional 150 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Alpha Metallurgical Resources in the 1st quarter worth approximately $38,000. Public Employees Retirement System of Ohio acquired a new position in shares of Alpha Metallurgical Resources in the 4th quarter worth approximately $60,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Alpha Metallurgical Resources in the 1st quarter worth approximately $64,000. Institutional investors and hedge funds own 84.29% of the company's stock.

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.

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