Kenneth Courtis Acquires 10,000 Shares of Alpha Metallurgical Resources (NYSE:AMR) Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis purchased 10,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were purchased at an average cost of $200.73 per share, with a total value of $2,007,300.00. Following the completion of the transaction, the director owned 985,394 shares of the company’s stock, valued at approximately $197,798,137.62. The trade was a 1.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Alpha Metallurgical Resources Stock Performance

AMR stock opened at $193.76 on Thursday. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of -64.59 and a beta of 0.62. The firm has a 50-day simple moving average of $193.27 and a two-hundred day simple moving average of $197.44. Alpha Metallurgical Resources, Inc. has a one year low of $97.41 and a one year high of $253.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.81 and a current ratio of 3.67.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings results on Friday, May 8th. The energy company reported ($0.86) EPS for the quarter, meeting the consensus estimate of ($0.86). The business had revenue of $447.32 million during the quarter, compared to analyst estimates of $535.15 million. Alpha Metallurgical Resources had a negative net margin of 1.83% and a negative return on equity of 2.47%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.60) earnings per share. On average, equities analysts forecast that Alpha Metallurgical Resources, Inc. will post 11.98 EPS for the current fiscal year.

Analysts Set New Price Targets

AMR has been the subject of several analyst reports. Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. B. Riley Financial increased their price target on shares of Alpha Metallurgical Resources from $203.00 to $207.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $185.00 price objective on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Atlantic Securities set a $194.00 price objective on shares of Alpha Metallurgical Resources in a research report on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Friday, March 27th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $195.33.

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of institutional investors have recently bought and sold shares of AMR. State Street Corp increased its holdings in shares of Alpha Metallurgical Resources by 27.2% during the 2nd quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after purchasing an additional 185,281 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Alpha Metallurgical Resources by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 721,872 shares of the energy company’s stock valued at $148,192,000 after purchasing an additional 38,300 shares in the last quarter. Continental General Insurance Co. increased its holdings in shares of Alpha Metallurgical Resources by 6.4% during the 4th quarter. Continental General Insurance Co. now owns 644,025 shares of the energy company’s stock valued at $128,728,000 after purchasing an additional 38,576 shares in the last quarter. Dalal Street LLC increased its holdings in shares of Alpha Metallurgical Resources by 2.1% during the 4th quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock valued at $108,535,000 after purchasing an additional 11,000 shares in the last quarter. Finally, Gendell Jeffrey L increased its holdings in shares of Alpha Metallurgical Resources by 4.0% during the 4th quarter. Gendell Jeffrey L now owns 494,072 shares of the energy company’s stock valued at $98,755,000 after purchasing an additional 19,033 shares in the last quarter. 84.29% of the stock is owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc (NYSE: AMR) is a leading pure-play producer of high-grade metallurgical coal, primarily serving the global steelmaking industry. Headquartered in Bristol, Virginia, the company operates multiple underground and surface mining complexes across the central Appalachian and Illinois basins. Its production portfolio focuses on premium raw and semi-soft coking coal products tailored to meet the specifications of steel producers worldwide.

Formed in July 2021 through the spin-out of Contura Energy’s metallurgical coal business, Alpha Metallurgical Resources has built a reputation for operational excellence and cost-efficient mining.