Alpha Metallurgical Resources’ (AMR) Hold Rating Reiterated at Benchmark

Benchmark reissued their hold rating on shares of Alpha Metallurgical Resources (NYSE:AMR) in a research note released on Wednesday, Benzinga reports.

Separately, B. Riley lowered their target price on shares of Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating on the stock in a research note on Friday, September 6th.

Alpha Metallurgical Resources Stock Performance

NYSE:AMR opened at $209.12 on Wednesday. The firm’s fifty day moving average is $222.92 and its two-hundred day moving average is $276.62. Alpha Metallurgical Resources has a one year low of $185.00 and a one year high of $452.00. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 5.07 and a beta of 1.30.

Alpha Metallurgical Resources (NYSE:AMR) last posted its earnings results on Monday, August 5th. The energy company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.03. Alpha Metallurgical Resources had a net margin of 13.52% and a return on equity of 28.63%. The business had revenue of $804.00 million for the quarter, compared to analyst estimates of $733.05 million. During the same period in the prior year, the company posted $12.16 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities research analysts predict that Alpha Metallurgical Resources will post 20.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its position in shares of Alpha Metallurgical Resources by 69.5% during the 3rd quarter. Blue Trust Inc. now owns 1,722 shares of the energy company’s stock worth $407,000 after purchasing an additional 706 shares during the last quarter. Stratos Wealth Advisors LLC raised its position in shares of Alpha Metallurgical Resources by 50.3% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 9,878 shares of the energy company’s stock worth $2,333,000 after purchasing an additional 3,305 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Alpha Metallurgical Resources during the 3rd quarter worth about $189,000. Creative Planning raised its position in shares of Alpha Metallurgical Resources by 17.6% during the 3rd quarter. Creative Planning now owns 1,798 shares of the energy company’s stock worth $425,000 after purchasing an additional 269 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its position in shares of Alpha Metallurgical Resources by 9.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,812 shares of the energy company’s stock worth $900,000 after purchasing an additional 342 shares during the last quarter. 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.