Alpha Metallurgical Resources (NYSE:AMR) Price Target Raised to $210.00 at Cowen

Posted by Defense World Staff on Feb 28th, 2023

Alpha Metallurgical Resources (NYSE:AMR – Get Rating) had its target price lifted by Cowen from $200.00 to $210.00 in a report released on Monday morning, The Fly reports.

A number of other brokerages have also issued reports on AMR. B. Riley lifted their target price on shares of Alpha Metallurgical Resources from $193.00 to $202.00 in a research note on Tuesday, January 17th. Cowen lowered their target price on Alpha Metallurgical Resources to $215.00 in a research note on Tuesday, November 15th.

Alpha Metallurgical Resources Price Performance

NYSE AMR opened at $167.53 on Monday. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 2.14 and a beta of 1.28. The company has a 50 day simple moving average of $157.61 and a 200-day simple moving average of $155.31. Alpha Metallurgical Resources has a 52-week low of $91.72 and a 52-week high of $186.98.

Alpha Metallurgical Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Wednesday, March 15th will be issued a dividend of $0.44 per share. The ex-dividend date is Tuesday, March 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.05%. This is an increase from Alpha Metallurgical Resources’s previous quarterly dividend of $0.39. Alpha Metallurgical Resources’s dividend payout ratio (DPR) is currently 2.14%.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Alpha Metallurgical Resources by 17.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,492,124 shares of the energy company’s stock worth $204,182,000 after acquiring an additional 216,652 shares in the last quarter. State Street Corp grew its holdings in Alpha Metallurgical Resources by 23.4% during the second quarter. State Street Corp now owns 933,025 shares of the energy company’s stock valued at $120,755,000 after purchasing an additional 176,742 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Alpha Metallurgical Resources by 186.8% in the second quarter. Renaissance Technologies LLC now owns 872,215 shares of the energy company’s stock valued at $112,629,000 after purchasing an additional 568,100 shares during the period. Gendell Jeffrey L lifted its stake in shares of Alpha Metallurgical Resources by 13.2% in the fourth quarter. Gendell Jeffrey L now owns 737,506 shares of the energy company’s stock worth $107,964,000 after buying an additional 86,165 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Alpha Metallurgical Resources by 7.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 375,319 shares of the energy company’s stock worth $54,941,000 after buying an additional 25,997 shares during the period. 81.21% of the stock is owned by institutional investors and hedge funds.

About Alpha Metallurgical Resources

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Alpha Metallurgical Resources, Inc is a mining company. It engages in the provision of met and thermal coal. The firm operates through the following business segments: Met, CAPP-Thermal, and All Other. The Met segment consists of met coal mines, including Deep Mine 41, Road Fork 52, Black Eagle, and Lynn Branch.

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