Alpha Metallurgical Resources (NYSE:AMR) Shares Up 4.5% Following Insider Buying Activity

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s share price rose 4.5% during trading on Monday after an insider bought additional shares in the company. The company traded as high as $236.00 and last traded at $236.4820. Approximately 22,379 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 285,032 shares. The stock had previously closed at $226.23.

Specifically, Director Kenneth S. Courtis purchased 5,000 shares of the company’s stock in a transaction on Friday, August 28th. The shares were bought at an average cost of $228.99 per share, for a total transaction of $1,144,950.00. Following the completion of the purchase, the director directly owned 1,025,394 shares of the company’s stock, valued at approximately $234,804,972.06. This trade represents a 0.49% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kenneth S. Courtis acquired 5,000 shares of Alpha Metallurgical Resources stock in a transaction dated Tuesday, August 25th. The shares were bought at an average price of $216.53 per share, with a total value of $1,082,650.00. Following the transaction, the director directly owned 1,020,394 shares in the company, valued at approximately $220,945,912.82. The trade was a 0.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Analysts Set New Price Targets

A number of research firms recently commented on AMR. Weiss Ratings downgraded shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Jefferies Financial Group reissued a “hold” rating and issued a $160.00 price target on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. UBS Group began coverage on shares of Alpha Metallurgical Resources in a research note on Friday, July 10th. They issued a “neutral” rating and a $165.00 price objective for the company. B. Riley Financial dropped their price objective on Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, August 20th. Finally, Wall Street Zen cut Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $176.00.

Alpha Metallurgical Resources Stock Down 1.3%

The business’s fifty day moving average price is $165.19 and its 200 day moving average price is $181.96. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of -65.01 and a beta of 0.65. The company has a current ratio of 3.41, a quick ratio of 2.37 and a debt-to-equity ratio of 0.01.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. The firm had revenue of $421.29 million during the quarter, compared to analysts’ expectations of $521.61 million. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. Alpha Metallurgical Resources’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.38) EPS. On average, equities analysts expect that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current year.

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in AMR. Dalal Street LLC raised its stake in 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 acquiring an additional 11,000 shares during the last quarter. Kettle Hill Capital Management LLC purchased a new position in shares of Alpha Metallurgical Resources in the 4th quarter valued at approximately $4,823,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Alpha Metallurgical Resources in the second quarter valued at approximately $8,983,000. Cibc World Market Inc. acquired a new position in shares of Alpha Metallurgical Resources in the second quarter valued at approximately $1,741,000. Finally, Old West Investment Management LLC purchased a new stake in shares of Alpha Metallurgical Resources during the second quarter worth approximately $9,932,000. Hedge funds and other institutional investors 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.