B. Riley Financial Cuts Alpha Metallurgical Resources (NYSE:AMR) Price Target to $185.00

Alpha Metallurgical Resources (NYSE:AMR) had its target price reduced by research analysts at B. Riley Financial from $189.00 to $185.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the energy company’s stock. B. Riley Financial’s target price indicates a potential downside of 5.19% from the stock’s previous close.

Several other research analysts have also issued reports on AMR. Atlantic Securities set a $194.00 target price on Alpha Metallurgical Resources in a research report on Thursday, April 30th. Jefferies Financial Group reissued a “hold” rating and issued a $160.00 price target on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. Zacks Research raised shares of Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings lowered shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Finally, UBS Group started coverage on shares of Alpha Metallurgical Resources in a research report on Friday, July 10th. They issued a “neutral” rating and a $165.00 price objective for the company. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $176.00.

Alpha Metallurgical Resources Stock Performance

Shares of NYSE:AMR opened at $195.13 on Thursday. The company has a quick ratio of 2.37, a current ratio of 3.41 and a debt-to-equity ratio of 0.01. Alpha Metallurgical Resources has a 52 week low of $133.64 and a 52 week high of $253.82. The stock has a market capitalization of $2.47 billion, a P/E ratio of -54.51 and a beta of 0.65. The firm has a fifty day simple moving average of $159.28 and a two-hundred day simple moving average of $180.91.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.01. The company had revenue of $421.29 million during the quarter, compared to analysts’ expectations of $521.61 million. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.38) EPS. On average, analysts expect that Alpha Metallurgical Resources will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Kenneth S. Courtis bought 10,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average price of $200.73 per share, for a total transaction of $2,007,300.00. Following the completion of the transaction, the director directly owned 985,394 shares in the company, valued at $197,798,137.62. The trade was a 1.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jason E. Whitehead sold 3,901 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $212.28, for a total value of $828,104.28. Following the completion of the sale, the chief operating officer owned 10,450 shares of the company’s stock, valued at approximately $2,218,326. The trade was a 27.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC purchased a new stake in shares of Alpha Metallurgical Resources during the 4th quarter worth $29,000. Caitong International Asset Management Co. Ltd increased its position in Alpha Metallurgical Resources by 215.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company’s stock valued at $33,000 after acquiring an additional 112 shares during the period. Leonteq Securities AG acquired a new stake in shares of Alpha Metallurgical Resources during the first quarter worth $37,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Alpha Metallurgical Resources in the fourth quarter valued at about $45,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Alpha Metallurgical Resources in the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc (NYSE: AMR) is a leading pure-play producer of high-grade metallurgical coal, primarily serving the global steelmaking industry. Headquartered in Bristol, Virginia, the company operates multiple underground and surface mining complexes across the central Appalachian and Illinois basins. Its production portfolio focuses on premium raw and semi-soft coking coal products tailored to meet the specifications of steel producers worldwide.

Formed in July 2021 through the spin-out of Contura Energy’s metallurgical coal business, Alpha Metallurgical Resources has built a reputation for operational excellence and cost-efficient mining.