Q1 2024 Earnings Forecast for Alpha Metallurgical Resources, Inc. Issued By B. Riley (NYSE:AMR)

Alpha Metallurgical Resources, Inc. (NYSE:AMR) – B. Riley boosted their Q1 2024 earnings per share estimates for Alpha Metallurgical Resources in a note issued to investors on Monday, April 15th. B. Riley analyst L. Pipes now expects 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 (NYSE:AMR) last issued its quarterly earnings results on Monday, February 26th. The energy company reported $12.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.78 by $4.10. Alpha Metallurgical Resources had a return on equity of 46.22% and a net margin of 20.80%. The business had revenue of $959.90 million during the quarter, compared to analysts’ expectations of $796.65 million. During the same period in the previous year, the company posted $13.37 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year.

Alpha Metallurgical Resources Stock Down 2.0 %

Shares of Alpha Metallurgical Resources stock opened at $342.25 on Wednesday. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 7.03 and a beta of 1.35. The firm’s 50-day moving average price is $348.56 and its two-hundred day moving average price is $316.05. Alpha Metallurgical Resources has a 12-month low of $132.72 and a 12-month high of $452.00.

Institutional Investors Weigh In On Alpha Metallurgical Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors grew its holdings in shares of Alpha Metallurgical Resources by 344.0% during the first quarter. Captrust Financial Advisors now owns 222 shares of the energy company’s stock worth $29,000 after purchasing an additional 172 shares during the last quarter. Macquarie Group Ltd. bought a new stake in Alpha Metallurgical Resources during the 2nd quarter worth approximately $32,000. GAMMA Investing LLC acquired a new position in Alpha Metallurgical Resources in the 4th quarter valued at approximately $33,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Alpha Metallurgical Resources during the fourth quarter worth $34,000. Finally, Quadrant Capital Group LLC bought a new stake in shares of Alpha Metallurgical Resources in the 4th quarter valued at about $35,000. Institutional investors own 84.29% of the company’s stock.

Insider Buying and Selling at Alpha Metallurgical Resources

In other news, CAO Roger Lee Nicholson sold 6,629 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $369.71, for a total transaction of $2,450,807.59. Following the completion of the transaction, the chief accounting officer now owns 10,720 shares of the company’s stock, valued at approximately $3,963,291.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis sold 22,802 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $302.81, for a total value of $6,904,673.62. Following the sale, the director now owns 638,234 shares in the company, valued at $193,263,637.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Roger Lee Nicholson sold 6,629 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $369.71, for a total transaction of $2,450,807.59. Following the sale, the chief accounting officer now directly owns 10,720 shares in the company, valued at approximately $3,963,291.20. 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. Corporate insiders own 16.40% 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.