Alpha Metallurgical Resources (NYSE:AMR) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Alpha Metallurgical Resources (NYSE:AMR) had its price objective raised by Jefferies Financial Group from $110.00 to $150.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the energy company’s stock. Jefferies Financial Group’s price objective would suggest a potential downside of 8.47% from the stock’s previous close.

AMR has been the topic of a number of other research reports. Wall Street Zen lowered shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. B. Riley cut their price objective on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a “buy” rating on the stock in a research note on Tuesday, August 5th.

Alpha Metallurgical Resources Trading Up 5.0%

NYSE AMR opened at $163.89 on Monday. The company has a fifty day simple moving average of $119.06 and a two-hundred day simple moving average of $130.21. The stock has a market cap of $2.14 billion, a P/E ratio of -57.50 and a beta of 0.59. Alpha Metallurgical Resources has a 12-month low of $97.41 and a 12-month high of $257.99.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings results on Friday, August 8th. The energy company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.38) by $2.00. The business had revenue of $550.27 million during the quarter, compared to analysts’ expectations of $552.15 million. Alpha Metallurgical Resources had a negative net margin of 1.57% and a negative return on equity of 2.28%. The business’s quarterly revenue was down 31.6% on a year-over-year basis. During the same quarter last year, the company posted $4.49 earnings per share. As a group, sell-side analysts forecast that Alpha Metallurgical Resources will post 14.31 earnings per share for the current year.

Institutional Trading of Alpha Metallurgical Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in AMR. Alliancebernstein L.P. grew its position in Alpha Metallurgical Resources by 1.0% during the fourth quarter. Alliancebernstein L.P. now owns 19,566 shares of the energy company’s stock valued at $3,916,000 after buying an additional 200 shares during the period. Wells Fargo & Company MN grew its position in Alpha Metallurgical Resources by 35.6% during the fourth quarter. Wells Fargo & Company MN now owns 6,788 shares of the energy company’s stock valued at $1,358,000 after buying an additional 1,781 shares during the period. Envestnet Asset Management Inc. grew its position in Alpha Metallurgical Resources by 21.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,457 shares of the energy company’s stock valued at $292,000 after buying an additional 254 shares during the period. Russell Investments Group Ltd. grew its position in Alpha Metallurgical Resources by 86.5% during the fourth quarter. Russell Investments Group Ltd. now owns 9,228 shares of the energy company’s stock valued at $1,847,000 after buying an additional 4,280 shares during the period. Finally, Bank of Montreal Can grew its position in Alpha Metallurgical Resources by 6.0% during the fourth quarter. Bank of Montreal Can now owns 1,318 shares of the energy company’s stock valued at $264,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 84.29% of the company’s stock.

Alpha Metallurgical Resources Company Profile

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.