FY2024 EPS Estimates for Alpha Metallurgical Resources, Inc. Cut by B. Riley (NYSE:AMR)

Alpha Metallurgical Resources, Inc. (NYSE:AMR) – Investment analysts at B. Riley lowered their FY2024 EPS estimates for Alpha Metallurgical Resources in a research note issued on Tuesday, May 7th. B. Riley analyst L. Pipes now forecasts that the energy company will earn $28.91 per share for the year, down from their previous forecast of $29.82. B. Riley 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’ FY2025 earnings at $37.51 EPS and FY2026 earnings at $39.73 EPS.

Separately, Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a report on Tuesday.

Alpha Metallurgical Resources Stock Performance

Shares of NYSE AMR opened at $300.49 on Wednesday. The business has a fifty day moving average of $330.80 and a two-hundred day moving average of $325.23. Alpha Metallurgical Resources has a 52-week low of $132.72 and a 52-week high of $452.00. The stock has a market cap of $3.91 billion, a PE ratio of 6.17 and a beta of 1.38.

Alpha Metallurgical Resources (NYSE:AMR) last posted its earnings results 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 return on equity of 46.22% and a net margin of 20.80%. The company had revenue of $864.07 million for the quarter, compared to the consensus estimate of $845.35 million. During the same quarter last year, the business earned $17.01 EPS. Alpha Metallurgical Resources’s quarterly revenue was down 5.2% compared to the same quarter last year.

Insider Buying and Selling

In other Alpha Metallurgical Resources news, CAO Roger Lee Nicholson sold 6,629 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $369.71, for a total transaction of $2,450,807.59. Following the completion of the sale, the chief accounting officer now owns 10,720 shares in the company, valued at approximately $3,963,291.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Roger Lee Nicholson sold 6,629 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $369.71, for a total value of $2,450,807.59. Following the sale, the chief accounting officer now directly owns 10,720 shares in the company, valued at approximately $3,963,291.20. The sale was disclosed in a 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 that occurred on Wednesday, February 28th. The shares were sold at an average price of $392.30, for a total transaction of $12,041,256.20. Following the transaction, 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 over the last ninety days. Insiders own 16.40% of the company’s stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC bought a new position in Alpha Metallurgical Resources in the fourth quarter valued at approximately $33,000. Wetzel Investment Advisors Inc. bought a new stake in Alpha Metallurgical Resources in the 4th quarter valued at $34,000. Quadrant Capital Group LLC acquired a new position in Alpha Metallurgical Resources in the 4th quarter worth $35,000. Creekmur Asset Management LLC bought a new position in Alpha Metallurgical Resources during the 4th quarter worth about $36,000. Finally, PNC Financial Services Group Inc. raised 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 purchasing an additional 161 shares during the period. 84.29% of the stock is currently owned by institutional investors and hedge funds.

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.