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

Alpha Metallurgical Resources (NYSE:AMR)‘s stock had its “hold” rating reiterated by equities research analysts at Benchmark in a research note issued on Monday, Benzinga reports.

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

Alpha Metallurgical Resources Price Performance

NYSE:AMR opened at $222.98 on Monday. Alpha Metallurgical Resources has a 1-year low of $185.00 and a 1-year high of $452.00. The company has a 50-day moving average of $216.30 and a 200 day moving average of $265.99. The firm has a market cap of $2.90 billion, a PE ratio of 8.18 and a beta of 1.33.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in Alpha Metallurgical Resources by 22.4% in the third quarter. Victory Capital Management Inc. now owns 15,441 shares of the energy company’s stock valued at $3,647,000 after acquiring an additional 2,823 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Alpha Metallurgical Resources during the 3rd quarter valued at $485,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of Alpha Metallurgical Resources by 47.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 8,925 shares of the energy company’s stock valued at $2,108,000 after purchasing an additional 2,891 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Alpha Metallurgical Resources in the 3rd quarter worth $203,000. Finally, Financial Strategies Group Inc. grew its stake in Alpha Metallurgical Resources by 168.1% during the 3rd quarter. Financial Strategies Group Inc. now owns 2,593 shares of the energy company’s stock worth $580,000 after buying an additional 1,626 shares during the last quarter. Hedge funds and other 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.