Q1 2024 EPS Estimates for Alpha Metallurgical Resources, Inc. (NYSE:AMR) Raised by Analyst

Alpha Metallurgical Resources, Inc. (NYSE:AMR) – Analysts at B. Riley raised their Q1 2024 earnings per share estimates for shares of Alpha Metallurgical Resources in a research note issued on Monday, April 15th. B. Riley analyst L. Pipes now anticipates that the energy company will earn $9.61 per share for the quarter, up from their previous estimate of $8.58. B. Riley currently has a “Buy” rating and a $374.00 target price on the stock. The consensus estimate for Alpha Metallurgical Resources’ current full-year earnings is $37.30 per share. B. Riley also issued estimates for Alpha Metallurgical Resources’ Q2 2024 earnings at $2.77 EPS, Q3 2024 earnings at $8.80 EPS, Q4 2024 earnings at $8.65 EPS and FY2024 earnings at $29.82 EPS.

Alpha Metallurgical Resources Price Performance

NYSE:AMR opened at $342.25 on Wednesday. The firm’s 50-day moving average price is $348.56 and its 200-day moving average price is $316.05. The company has a market capitalization of $4.45 billion, a PE ratio of 7.03 and a beta of 1.35. Alpha Metallurgical Resources has a 1-year low of $132.72 and a 1-year high of $452.00.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Monday, February 26th. The energy company reported $12.88 earnings per share for the quarter, topping the consensus estimate of $8.78 by $4.10. The company had revenue of $959.90 million for the quarter, compared to analysts’ expectations of $796.65 million. Alpha Metallurgical Resources had a return on equity of 46.22% and a net margin of 20.80%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $13.37 earnings per share.

Insiders Place Their Bets

In related news, insider Daniel E. Horn sold 100 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $360.29, for a total value of $36,029.00. Following the sale, the insider now owns 6,462 shares in the company, valued at approximately $2,328,193.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Daniel E. Horn sold 100 shares of Alpha Metallurgical Resources stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $360.29, for a total value of $36,029.00. Following the completion of the transaction, the insider now owns 6,462 shares of the company’s stock, valued at approximately $2,328,193.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David J. Stetson sold 30,694 shares of the stock in a transaction dated 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 sale, the director now directly owns 26,054 shares in the company, valued at $10,220,984.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 153,971 shares of company stock worth $55,479,986. 16.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several institutional investors and hedge funds have recently made changes to their positions in AMR. Captrust Financial Advisors lifted its position in Alpha Metallurgical Resources by 344.0% in the 1st quarter. Captrust Financial Advisors now owns 222 shares of the energy company’s stock valued at $29,000 after acquiring an additional 172 shares in the last quarter. Macquarie Group Ltd. bought a new stake in shares of Alpha Metallurgical Resources in the 2nd quarter worth $32,000. GAMMA Investing LLC purchased a new position in shares of Alpha Metallurgical Resources in the fourth quarter worth $33,000. Wetzel Investment Advisors Inc. bought a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at $34,000. Finally, Quadrant Capital Group LLC purchased a new stake in shares of Alpha Metallurgical Resources during the fourth quarter valued at $35,000. Institutional investors 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.