Alpha Metallurgical Resources (NYSE:AMR) Stock Price Target Lowered at B. Riley Financial

Key Points

• B. Riley Financial lowered Alpha Metallurgical Resources’ price target from $185 to $178 while maintaining a neutral rating, implying roughly 8.4% upside from the reported $164.16 share price.
• Analyst sentiment remains cautious: six analysts rate the stock Hold and one rates it Sell, resulting in a consensus “Reduce” rating and a $178 consensus price target.
• Alpha reported a quarterly loss of $0.96 per share on $421.3 million in revenue; revenue declined 10.4% year over year, and analysts expect a full-year loss of $2.40 per share.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) had its price target cut by research analysts at B. Riley Financial from $185.00 to $178.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the energy company's stock. B. Riley Financial's price target indicates a potential upside of 8.43% from the company's current price.

A number of other brokerages have also recently weighed in on AMR. UBS Group lifted their price target on shares of Alpha Metallurgical Resources from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, October 8th. Zacks Research upgraded shares of Alpha Metallurgical Resources from a "strong sell" rating to a "hold" rating in a report on Monday, October 19th. Wall Street Zen cut shares of Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. 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. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $178.00.

Alpha Metallurgical Resources Trading Up 0.3%

Shares of NYSE AMR traded up $0.56 during mid-day trading on Monday, reaching $164.16. 11,257 shares of the company's stock were exchanged, compared to its average volume of 286,761. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of -45.63 and a beta of 0.85. 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 has a 52-week low of $133.64 and a 52-week high of $253.82. The company's 50-day moving average is $190.41 and its 200-day moving average is $180.63.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $421.29 million during the quarter, compared to the consensus estimate of $521.61 million. During the same period last year, the company earned ($0.38) EPS. The company's quarterly revenue was down 10.4% on a year-over-year basis. Analysts expect that Alpha Metallurgical Resources will post -2.40 EPS for the current fiscal year.

Insider Activity at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, Director Kenneth Courtis acquired 15,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was acquired at an average price of $193.50 per share, with a total value of $2,902,500.00. Following the completion of the purchase, the director owned 1,015,394 shares in the company, valued at $196,478,739. This trade represents a 1.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 35,000 shares of company stock valued at $7,388,400 over the last ninety days. Company insiders own 18.20% of the company's stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE purchased a new position in Alpha Metallurgical Resources in the 2nd quarter valued at approximately $8,763,000. Squarepoint Ops LLC acquired a new position in shares of Alpha Metallurgical Resources in the second quarter worth $3,728,000. NWF Advisory Services Inc. increased its position in shares of Alpha Metallurgical Resources by 46.5% during the second quarter. NWF Advisory Services Inc. now owns 57,925 shares of the energy company's stock worth $9,554,000 after acquiring an additional 18,390 shares during the period. Cibc World Market Inc. purchased a new stake in shares of Alpha Metallurgical Resources during the second quarter worth $1,741,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Alpha Metallurgical Resources during the second quarter worth $8,983,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc is a mining company focused primarily on the production and sale of metallurgical coal. Its coal is used by steelmakers and coke producers in the manufacturing of steel, with additional sales of thermal coal for power generation. The company serves domestic and international customers through a network of mines and related operations.

Alpha operates principally in the Central Appalachian region, with mining assets in West Virginia and Virginia. Its activities include underground and surface mining, coal preparation, processing, and transportation.

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