Alpha Metallurgical Resources, Inc. Forecasted to Post Q2 2024 Earnings of $3.97 Per Share (NYSE:AMR)

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) - Equities researchers at B. Riley increased their Q2 2024 earnings per share (EPS) estimates for shares of Alpha Metallurgical Resources in a note issued to investors on Tuesday, May 7th. B. Riley analyst L. Pipes now forecasts that the energy company will post earnings of $3.97 per share for the quarter, up from their previous estimate of $2.77. B. Riley currently has a "Buy" rating and a $375.00 price target on the stock. The consensus estimate for Alpha Metallurgical Resources' current full-year earnings is $29.82 per share. B. Riley also issued estimates for Alpha Metallurgical Resources' Q3 2024 earnings at $7.80 EPS, Q4 2024 earnings at $7.56 EPS, Q1 2025 earnings at $9.08 EPS, Q2 2025 earnings at $9.44 EPS, Q3 2025 earnings at $9.56 EPS, Q4 2025 earnings at $9.43 EPS and Q1 2026 earnings at $9.68 EPS.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its quarterly earnings data on Monday, May 6th. The energy company reported $9.59 EPS for the quarter, missing the consensus estimate of $9.61 by ($0.02). Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. The business had revenue of $864.07 million during the quarter, compared to analysts' expectations of $845.35 million. During the same period in the previous year, the business posted $17.01 EPS. The company's revenue for the quarter was down 5.2% compared to the same quarter last year.

Separately, Benchmark reiterated a "hold" rating on shares of Alpha Metallurgical Resources in a report on Tuesday.

Alpha Metallurgical Resources Stock Down 0.6 %

AMR stock traded down $1.91 during midday trading on Thursday, hitting $298.58. The company's stock had a trading volume of 181,808 shares, compared to its average volume of 240,113. The firm has a 50-day simple moving average of $330.80 and a 200-day simple moving average of $325.23. The firm has a market capitalization of $3.88 billion, a P/E ratio of 7.23 and a beta of 1.38. Alpha Metallurgical Resources has a 52-week low of $132.72 and a 52-week high of $452.00.

Institutional Trading of Alpha Metallurgical Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Alpha Metallurgical Resources by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 1,213,584 shares of the energy company's stock worth $411,308,000 after acquiring an additional 61,915 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Alpha Metallurgical Resources by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 725,152 shares of the energy company's stock worth $245,778,000 after buying an additional 22,856 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Alpha Metallurgical Resources in the 3rd quarter valued at about $128,857,000. Dalal Street LLC grew its position in shares of Alpha Metallurgical Resources by 21.7% during the 3rd quarter. Dalal Street LLC now owns 441,510 shares of the energy company's stock valued at $114,673,000 after buying an additional 78,861 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of Alpha Metallurgical Resources during the 4th quarter worth approximately $139,291,000. Hedge funds and other institutional investors own 84.29% of the company's stock.

Insider Activity at Alpha Metallurgical Resources

In related news, CEO Charles Andrew Eidson sold 30,000 shares of the company's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $363.06, for a total value of $10,891,800.00. Following the completion of the sale, the chief executive officer now directly owns 50,025 shares of the company's stock, valued at approximately $18,162,076.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alpha Metallurgical Resources news, CEO Charles Andrew Eidson sold 30,000 shares of the firm's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $363.06, for a total transaction of $10,891,800.00. Following the transaction, the chief executive officer now directly owns 50,025 shares of the company's stock, valued at approximately $18,162,076.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel E. Horn sold 100 shares of the business's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $360.29, for a total value of $36,029.00. Following the completion of the transaction, the insider now owns 6,462 shares in the company, valued at approximately $2,328,193.98. The disclosure for this sale can be found here. Insiders sold a total of 153,971 shares of company stock valued at $55,479,986 over the last ninety days. Insiders own 15.00% 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.