Alpha Metallurgical Resources (NYSE:AMR) Stock Price Up 5.7% – Still a Buy?

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s share price traded up 5.7% on Wednesday . The company traded as high as $199.00 and last traded at $197.28. 65,919 shares were traded during mid-day trading, a decline of 79% from the average session volume of 318,813 shares. The stock had previously closed at $186.65.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Monday. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $160.50.

Alpha Metallurgical Resources Trading Up 4.8%

The stock has a market capitalization of $2.52 billion, a P/E ratio of -54.86 and a beta of 0.91. The company has a fifty day simple moving average of $166.65 and a two-hundred day simple moving average of $145.22.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings results on Thursday, November 6th. The energy company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.07). Alpha Metallurgical Resources had a negative return on equity of 2.88% and a negative net margin of 2.09%.The business had revenue of $526.78 million for the quarter, compared to the consensus estimate of $543.77 million. During the same period last year, the firm earned $0.29 earnings per share. The company’s quarterly revenue was down 21.6% on a year-over-year basis. As a group, analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Daniel E. Horn sold 8,125 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $188.32, for a total value of $1,530,100.00. Following the sale, the insider directly owned 4,989 shares of the company’s stock, valued at approximately $939,528.48. The trade was a 61.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth S. Courtis bought 12,760 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Thursday, December 11th. The shares were acquired at an average price of $181.85 per share, with a total value of $2,320,406.00. Following the acquisition, the director directly owned 785,537 shares of the company’s stock, valued at $142,849,903.45. The trade was a 1.65% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 51,000 shares of company stock worth $9,029,158. 16.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of institutional investors have recently added to or reduced their stakes in AMR. Lindenwold Advisors INC acquired a new stake in Alpha Metallurgical Resources in the third quarter valued at $241,000. CIBC Bancorp USA Inc. acquired a new position in Alpha Metallurgical Resources during the 3rd quarter worth approximately $205,000. PDT Partners LLC grew its position in Alpha Metallurgical Resources by 82.0% in the 3rd quarter. PDT Partners LLC now owns 46,964 shares of the energy company’s stock valued at $7,706,000 after purchasing an additional 21,159 shares during the period. Dark Forest Capital Management LP bought a new stake in shares of Alpha Metallurgical Resources during the third quarter worth about $1,515,000. Finally, Virtus Advisers LLC bought a new position in shares of Alpha Metallurgical Resources in the third quarter valued at approximately $550,000. 84.29% of the stock is currently owned by institutional investors and hedge funds.

About Alpha Metallurgical Resources

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.