B. Riley Analysts Lower Earnings Estimates for Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Alpha Metallurgical Resources, Inc. (NYSE:AMR) – Equities researchers at B. Riley dropped their FY2024 earnings per share estimates for Alpha Metallurgical Resources in a research report issued to clients and investors 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 prior estimate 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 reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a report on Tuesday.

Alpha Metallurgical Resources Stock Down 1.3 %

AMR stock opened at $300.49 on Wednesday. The company has a fifty day simple moving average of $330.80 and a two-hundred day simple 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 firm has a market capitalization of $3.91 billion, a P/E 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 analysts’ consensus estimates of $9.61 by ($0.02). Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. The firm had revenue of $864.07 million for the quarter, compared to the consensus estimate of $845.35 million. During the same quarter in the prior year, the company posted $17.01 earnings per share. The firm’s revenue was down 5.2% compared to the same quarter last year.

Insider Buying and Selling

In related news, CEO Charles Andrew Eidson sold 30,000 shares of Alpha Metallurgical Resources stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $363.06, for a total transaction of $10,891,800.00. Following the completion of the transaction, the chief executive officer now directly owns 50,025 shares of the company’s stock, valued at approximately $18,162,076.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Kenneth S. Courtis sold 22,802 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $302.81, for a total transaction of $6,904,673.62. Following the completion of the sale, the director now directly owns 638,234 shares of the company’s stock, valued at $193,263,637.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Andrew Eidson sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $363.06, for a total transaction of $10,891,800.00. Following the completion of the transaction, the chief executive officer now directly owns 50,025 shares in the company, valued at approximately $18,162,076.50. The disclosure for this sale can be found here. Insiders sold a total of 153,971 shares of company stock worth $55,479,986 over the last three months. 16.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several large investors have recently added to or reduced their stakes in the stock. Stratos Wealth Advisors LLC increased its position in shares of Alpha Metallurgical Resources by 0.5% during the fourth quarter. Stratos Wealth Advisors LLC now owns 6,631 shares of the energy company’s stock worth $2,247,000 after acquiring an additional 31 shares during the period. SummerHaven Investment Management LLC increased its holdings in Alpha Metallurgical Resources by 0.7% during the 4th quarter. SummerHaven Investment Management LLC now owns 4,802 shares of the energy company’s stock worth $1,627,000 after purchasing an additional 35 shares during the period. Measured Wealth Private Client Group LLC raised its position in Alpha Metallurgical Resources by 5.0% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 819 shares of the energy company’s stock valued at $271,000 after purchasing an additional 39 shares in the last quarter. American International Group Inc. lifted its holdings in shares of Alpha Metallurgical Resources by 1.1% in the 4th quarter. American International Group Inc. now owns 6,300 shares of the energy company’s stock worth $2,135,000 after buying an additional 67 shares during the period. Finally, Meritage Portfolio Management grew its position in shares of Alpha Metallurgical Resources by 5.6% during the 3rd quarter. Meritage Portfolio Management now owns 1,724 shares of the energy company’s stock worth $448,000 after buying an additional 92 shares in the last quarter. 84.29% of the stock is owned by hedge funds and other institutional investors.

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.