Benchmark Reiterates “Hold” Rating for Alpha Metallurgical Resources (NYSE:AMR)

Benchmark restated their hold rating on shares of Alpha Metallurgical Resources (NYSE:AMR) in a report released on Monday, Benzinga reports.

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

Alpha Metallurgical Resources Stock Up 5.3 %

Shares of NYSE AMR opened at $213.39 on Monday. The business’s 50 day moving average is $216.51 and its two-hundred day moving average is $266.74. Alpha Metallurgical Resources has a 52-week low of $185.00 and a 52-week high of $452.00. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 7.83 and a beta of 1.33.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings data on Friday, November 1st. The energy company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($1.31). Alpha Metallurgical Resources had a net margin of 11.08% and a return on equity of 22.65%. The firm had revenue of $671.90 million during the quarter, compared to analyst estimates of $672.95 million. During the same period in the previous year, the firm posted $6.65 earnings per share. The company’s quarterly revenue was down 9.4% compared to the same quarter last year. Analysts anticipate that Alpha Metallurgical Resources will post 17.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several institutional investors have recently modified their holdings of AMR. Federated Hermes Inc. acquired a new stake in shares of Alpha Metallurgical Resources in the second quarter valued at $25,000. GAMMA Investing LLC increased its holdings in Alpha Metallurgical Resources by 124.6% during the 3rd quarter. GAMMA Investing LLC now owns 137 shares of the energy company’s stock worth $32,000 after purchasing an additional 76 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Alpha Metallurgical Resources during the 3rd quarter worth about $36,000. Sound Income Strategies LLC acquired a new stake in Alpha Metallurgical Resources in the 3rd quarter valued at about $40,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Alpha Metallurgical Resources by 947.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 178 shares of the energy company’s stock valued at $60,000 after buying an additional 161 shares during the period. Institutional investors and hedge funds own 84.29% 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.