Analysts Set Expectations for Alpha Metallurgical Resources, Inc.’s Q3 2024 Earnings (NYSE:AMR)

Alpha Metallurgical Resources, Inc. (NYSE:AMR) – B. Riley lowered their Q3 2024 earnings per share (EPS) estimates for Alpha Metallurgical Resources in a research report issued on Tuesday, August 6th. B. Riley analyst L. Pipes now anticipates that the energy company will post earnings of $6.14 per share for the quarter, down from their previous forecast of $7.64. B. Riley has a “Buy” rating and a $375.00 price objective on the stock. The consensus estimate for Alpha Metallurgical Resources’ current full-year earnings is $28.83 per share. B. Riley also issued estimates for Alpha Metallurgical Resources’ Q4 2024 earnings at $6.10 EPS, FY2024 earnings at $26.33 EPS, Q1 2025 earnings at $8.84 EPS, Q2 2025 earnings at $9.19 EPS, Q3 2025 earnings at $9.34 EPS, Q4 2025 earnings at $9.22 EPS, Q1 2026 earnings at $9.41 EPS and Q2 2026 earnings at $9.78 EPS.

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

Alpha Metallurgical Resources Price Performance

NYSE:AMR traded up $2.44 during mid-day trading on Thursday, reaching $258.63. 101,338 shares of the company’s stock traded hands, compared to its average volume of 219,368. Alpha Metallurgical Resources has a 12-month low of $179.09 and a 12-month high of $452.00. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 6.27 and a beta of 1.36. The company has a 50 day moving average price of $297.51 and a 200-day moving average price of $326.66.

Alpha Metallurgical Resources (NYSE:AMR) last released its earnings results on Monday, August 5th. The energy company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.46 by $0.03. Alpha Metallurgical Resources had a return on equity of 36.77% and a net margin of 16.89%. The company had revenue of $804.00 million during the quarter, compared to analyst estimates of $733.05 million. During the same quarter in the previous year, the company posted $12.16 EPS. Alpha Metallurgical Resources’s revenue for the quarter was down 6.3% on a year-over-year basis.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several hedge funds and other institutional investors have recently modified their holdings of AMR. Federated Hermes Inc. purchased a new stake in Alpha Metallurgical Resources in the 2nd quarter worth $25,000. GAMMA Investing LLC purchased a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at about $33,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at about $34,000. Quadrant Capital Group LLC purchased a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at about $35,000. Finally, Creekmur Asset Management LLC purchased a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at about $36,000. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Roger Lee Nicholson sold 3,593 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $290.16, for a total transaction of $1,042,544.88. Following the transaction, the chief accounting officer now directly owns 6,127 shares of the company’s stock, valued at approximately $1,777,810.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 15.00% 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.