Equities Analysts Set Expectations for AMR FY2024 Earnings

Alpha Metallurgical Resources, Inc. (NYSE:AMR) – Investment analysts at B. Riley reduced their FY2024 earnings per share estimates for shares of Alpha Metallurgical Resources in a note issued to investors on Tuesday, November 5th. B. Riley analyst L. Pipes now anticipates that the energy company will post earnings of $16.87 per share for the year, down from their prior estimate of $18.02. B. Riley has a “Buy” rating and a $336.00 price objective on the stock. The consensus estimate for Alpha Metallurgical Resources’ current full-year earnings is $17.89 per share. B. Riley also issued estimates for Alpha Metallurgical Resources’ Q4 2024 earnings at $2.49 EPS.

Alpha Metallurgical Resources (NYSE:AMR) last released its earnings results on Friday, November 1st. The energy company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($1.31). Alpha Metallurgical Resources had a return on equity of 22.65% and a net margin of 11.08%. The firm had revenue of $671.90 million for the quarter, compared to analyst estimates of $672.95 million. During the same period last year, the firm earned $6.65 EPS. The company’s revenue for the quarter was down 9.4% compared to the same quarter last year.

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

Alpha Metallurgical Resources Trading Down 0.9 %

Shares of NYSE AMR opened at $239.71 on Thursday. The company has a 50 day simple moving average of $216.45 and a two-hundred day simple moving average of $265.64. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 8.80 and a beta of 1.33. Alpha Metallurgical Resources has a 12 month low of $185.00 and a 12 month high of $452.00.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several hedge funds have recently bought and sold shares of AMR. Creative Planning increased its holdings in shares of Alpha Metallurgical Resources by 2.9% during the 2nd quarter. Creative Planning now owns 1,529 shares of the energy company’s stock valued at $429,000 after purchasing an additional 43 shares in the last quarter. Lindenwold Advisors INC increased its holdings in Alpha Metallurgical Resources by 2.9% in the first quarter. Lindenwold Advisors INC now owns 1,541 shares of the energy company’s stock valued at $510,000 after buying an additional 44 shares in the last quarter. Linden Thomas Advisory Services LLC increased its holdings in Alpha Metallurgical Resources by 0.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 7,823 shares of the energy company’s stock valued at $2,195,000 after buying an additional 47 shares in the last quarter. SummerHaven Investment Management LLC raised its position in shares of Alpha Metallurgical Resources by 1.0% in the second quarter. SummerHaven Investment Management LLC now owns 4,876 shares of the energy company’s stock worth $1,368,000 after acquiring an additional 48 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Alpha Metallurgical Resources by 124.6% during the 3rd quarter. GAMMA Investing LLC now owns 137 shares of the energy company’s stock worth $32,000 after acquiring an additional 76 shares in the last quarter. Hedge funds and other institutional investors 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.