Kenneth Courtis Purchases 15,000 Shares of Alpha Metallurgical Resources (NYSE:AMR) Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis bought 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average cost of $193.50 per share, for a total transaction of $2,902,500.00. Following the completion of the acquisition, the director directly owned 1,000,394 shares in the company, valued at $193,576,239. The trade was a 1.52% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alpha Metallurgical Resources Trading Up 8.5%

Shares of Alpha Metallurgical Resources stock opened at $210.91 on Friday. The business has a fifty day simple moving average of $159.56 and a two-hundred day simple moving average of $181.01. Alpha Metallurgical Resources, Inc. has a 1 year low of $133.64 and a 1 year high of $253.82. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -58.91 and a beta of 0.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.41 and a quick ratio of 2.37.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The firm had revenue of $421.29 million during the quarter, compared to analysts’ expectations of $521.61 million. During the same period in the previous year, the business posted ($0.38) earnings per share. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. Research analysts forecast that Alpha Metallurgical Resources, Inc. will post 0.2 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on AMR shares. UBS Group initiated coverage on shares of Alpha Metallurgical Resources in a report on Friday, July 10th. They set a “neutral” rating and a $165.00 target price for the company. Weiss Ratings cut shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. B. Riley Financial cut their price objective on shares of Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday. Zacks Research upgraded Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $176.00.

Institutional Investors Weigh In On Alpha Metallurgical Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dalal Street LLC grew its position 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 worth $108,535,000 after purchasing an additional 11,000 shares in the last quarter. Kettle Hill Capital Management LLC bought a new position in shares of Alpha Metallurgical Resources during the fourth quarter worth approximately $4,823,000. Goehring & Rozencwajg Associates LLC raised its position in shares of Alpha Metallurgical Resources by 206.8% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company’s stock valued at $49,683,000 after buying an additional 163,144 shares in the last quarter. Old West Investment Management LLC acquired a new stake in shares of Alpha Metallurgical Resources in the second quarter valued at approximately $9,932,000. Finally, Marnell Management LLC bought a new stake in shares of Alpha Metallurgical Resources in the fourth quarter valued at approximately $1,116,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

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.