Alpha Metallurgical Resources (NYSE:AMR) Director Acquires $1,144,950.00 in Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was purchased at an average price of $228.99 per share, for a total transaction of $1,144,950.00. Following the purchase, the director owned 1,025,394 shares in the company, valued at $234,804,972.06. This represents a 0.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Alpha Metallurgical Resources Trading Up 0.0%

NYSE:AMR opened at $233.41 on Thursday. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -65.20 and a beta of 0.68. The company has a quick ratio of 2.37, a current ratio of 3.41 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average price is $166.60 and its 200-day moving average price is $182.28. Alpha Metallurgical Resources, Inc. has a 52 week low of $133.64 and a 52 week high of $253.82.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMR. Zacks Research lowered Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 27th. UBS Group initiated 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 target for the company. Jefferies Financial Group reissued a “hold” rating and set a $160.00 price objective on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. 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. Finally, B. Riley Financial cut their target price 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, August 20th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $176.00.

Institutional Trading of Alpha Metallurgical Resources

Several large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its holdings in Alpha Metallurgical Resources by 15,924.2% during the second quarter. California State Teachers Retirement System now owns 2,121,128 shares of the energy company’s stock valued at $349,859,000 after buying an additional 2,107,891 shares during the last quarter. NWF Advisory Services Inc. boosted its stake in shares of Alpha Metallurgical Resources by 46.5% during the 2nd quarter. NWF Advisory Services Inc. now owns 57,925 shares of the energy company’s stock worth $9,554,000 after acquiring an additional 18,390 shares during the last quarter. Nykredit A S purchased a new position in shares of Alpha Metallurgical Resources during the 2nd quarter worth $25,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Alpha Metallurgical Resources during the 2nd quarter valued at $413,000. Finally, Van ECK Associates Corp grew its position in shares of Alpha Metallurgical Resources by 9.9% during the 2nd quarter. Van ECK Associates Corp now owns 10,723 shares of the energy company’s stock valued at $1,769,000 after acquiring an additional 969 shares during the period. 84.29% of the stock is currently owned by 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.