Alpha Metallurgical Resources (NYSE:AMR) Price Target Raised to $375.00 at B. Riley

Alpha Metallurgical Resources (NYSE:AMR - Free Report) had its price target increased by B. Riley from $374.00 to $375.00 in a report published on Tuesday, Benzinga reports. The firm currently has a buy rating on the energy company's stock.

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

Alpha Metallurgical Resources Price Performance

Shares of Alpha Metallurgical Resources stock traded up $7.97 during trading hours on Tuesday, hitting $304.61. The company had a trading volume of 219,124 shares, compared to its average volume of 240,804. The company's 50-day moving average is $334.71 and its two-hundred day moving average is $324.80. Alpha Metallurgical Resources has a twelve month low of $132.72 and a twelve month high of $452.00. The company has a market cap of $3.96 billion, a P/E ratio of 6.23 and a beta of 1.38.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its earnings results on Monday, May 6th. The energy company reported $9.59 earnings per share for the quarter, missing the consensus estimate of $9.61 by ($0.02). The firm had revenue of $864.07 million during the quarter, compared to analysts' expectations of $845.35 million. Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. The firm's revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $17.01 earnings per share. Sell-side analysts expect that Alpha Metallurgical Resources will post 29.82 EPS for the current year.

Insider Buying and Selling at Alpha Metallurgical Resources

In other news, Director David J. Stetson sold 30,694 shares of Alpha Metallurgical Resources stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $392.30, for a total value of $12,041,256.20. Following the sale, the director now owns 26,054 shares of the company's stock, valued at $10,220,984.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis sold 22,802 shares of the company's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $302.81, for a total transaction of $6,904,673.62. Following the completion of the sale, the director now directly owns 638,234 shares in the company, valued at $193,263,637.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David J. Stetson sold 30,694 shares of the business's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $392.30, for a total value of $12,041,256.20. Following the sale, the director now owns 26,054 shares of the company's stock, valued at approximately $10,220,984.20. 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 in the last ninety days. Insiders own 16.40% of the company's stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several institutional investors have recently bought and sold shares of AMR. State of Alaska Department of Revenue purchased a new stake in shares of Alpha Metallurgical Resources in the fourth quarter worth about $2,465,000. Raymond James & Associates lifted its position in shares of Alpha Metallurgical Resources by 203.8% during the third quarter. Raymond James & Associates now owns 9,546 shares of the energy company's stock worth $2,479,000 after purchasing an additional 6,404 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in shares of Alpha Metallurgical Resources in the fourth quarter valued at $2,302,000. Invesco Ltd. grew its holdings in Alpha Metallurgical Resources by 180.9% during the 3rd quarter. Invesco Ltd. now owns 115,816 shares of the energy company's stock valued at $30,081,000 after purchasing an additional 74,583 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at $2,000,000. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

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.