Alpha Metallurgical Resources, Inc. to Post Q2 2024 Earnings of $3.97 Per Share, B. Riley Forecasts (NYSE:AMR)

Alpha Metallurgical Resources, Inc. (NYSE:AMR) – Analysts at B. Riley increased their Q2 2024 earnings estimates for shares of Alpha Metallurgical Resources in a research report issued on Tuesday, May 7th. B. Riley analyst L. Pipes now expects that the energy company will earn $3.97 per share for the quarter, up from their previous estimate of $2.77. 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’ Q3 2024 earnings at $7.80 EPS, Q4 2024 earnings at $7.56 EPS, Q1 2025 earnings at $9.08 EPS, Q2 2025 earnings at $9.44 EPS, Q3 2025 earnings at $9.56 EPS, Q4 2025 earnings at $9.43 EPS and Q1 2026 earnings at $9.68 EPS.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Monday, May 6th. The energy company reported $9.59 earnings per share for the quarter, missing the consensus estimate of $9.61 by ($0.02). The firm had revenue of $864.07 million for the quarter, compared to the consensus estimate of $845.35 million. Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. Alpha Metallurgical Resources’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the business earned $17.01 EPS.

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

Alpha Metallurgical Resources Stock Performance

NYSE AMR opened at $298.58 on Thursday. The stock has a 50-day moving average of $329.22 and a 200 day moving average of $325.04. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 7.23 and a beta of 1.38. Alpha Metallurgical Resources has a one year low of $132.72 and a one year high of $452.00.

Insider Buying and Selling at Alpha Metallurgical Resources

In other news, Director David J. Stetson sold 4,502 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $388.26, for a total value of $1,747,946.52. Following the completion of the sale, the director now directly owns 20,104 shares in the company, valued at approximately $7,805,579.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director David J. Stetson sold 4,502 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $388.26, for a total transaction of $1,747,946.52. Following the completion of the transaction, the director now directly owns 20,104 shares in the company, valued at approximately $7,805,579.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David J. Stetson sold 30,694 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $392.30, for a total transaction of $12,041,256.20. Following the completion of the sale, the director now directly owns 26,054 shares of the company’s stock, valued at $10,220,984.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 153,971 shares of company stock valued at $55,479,986. Insiders own 15.00% of the company’s stock.

Institutional Trading of Alpha Metallurgical Resources

Institutional investors and hedge funds have recently modified their holdings of the company. ProShare Advisors LLC lifted its holdings in Alpha Metallurgical Resources by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 2,336 shares of the energy company’s stock worth $774,000 after purchasing an additional 160 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Alpha Metallurgical Resources by 15.8% during the first quarter. Russell Investments Group Ltd. now owns 5,549 shares of the energy company’s stock valued at $1,838,000 after buying an additional 757 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Alpha Metallurgical Resources in the first quarter worth $88,000. SG Americas Securities LLC bought a new position in shares of Alpha Metallurgical Resources during the 1st quarter valued at about $356,000. Finally, Empowered Funds LLC increased its holdings in shares of Alpha Metallurgical Resources by 85.5% in the first quarter. Empowered Funds LLC now owns 41,555 shares of the energy company’s stock worth $13,762,000 after purchasing an additional 19,154 shares during the last quarter. 84.29% of the stock is currently owned by 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.