Alpha Metallurgical Resources, Inc. (NYSE:AMR) Receives Average Rating of “Reduce” from Brokerages

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) have been assigned an average recommendation of “Reduce” from the seven brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $176.00.

Several equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Jefferies Financial Group restated a “hold” rating and issued a $160.00 price objective on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. UBS Group started 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 research report on Tuesday, August 11th. Finally, B. Riley Financial cut their price target on Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, August 20th.

Alpha Metallurgical Resources Trading Down 0.1%

Shares of AMR opened at $209.90 on Tuesday. The stock’s fifty day simple moving average is $159.95 and its 200-day simple moving average is $180.85. The firm has a market capitalization of $2.66 billion, a PE ratio of -58.63 and a beta of 0.65. Alpha Metallurgical Resources has a 12-month low of $133.64 and a 12-month high of $253.82. The company has a quick ratio of 2.37, a current ratio of 3.41 and a debt-to-equity ratio of 0.01.

Alpha Metallurgical Resources (NYSE:AMR) last announced 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 return on equity of 2.99% and a negative net margin of 2.23%.The firm had revenue of $421.29 million during the quarter, compared to analyst estimates of $521.61 million. During the same period last year, the company earned ($0.38) earnings per share. The company’s revenue was down 10.4% on a year-over-year basis. As a group, research analysts predict that Alpha Metallurgical Resources will post -2.4 earnings per share for the current year.

Insider Buying and Selling at Alpha Metallurgical Resources

In other news, EVP Mark Matthew Manno sold 460 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $214.64, for a total transaction of $98,734.40. Following the completion of the transaction, the executive vice president directly owned 3,966 shares in the company, valued at approximately $851,262.24. The trade was a 10.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth S. Courtis purchased 15,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was bought at an average cost of $193.50 per share, with a total value of $2,902,500.00. Following the completion of the purchase, the director owned 1,015,394 shares in the company, valued at $196,478,739. The trade was a 1.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AMR. Royal Bank of Canada raised its holdings in Alpha Metallurgical Resources by 55.0% in the first quarter. Royal Bank of Canada now owns 2,029 shares of the energy company’s stock worth $254,000 after purchasing an additional 720 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Alpha Metallurgical Resources by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,548 shares of the energy company’s stock valued at $820,000 after buying an additional 295 shares during the period. Millennium Management LLC grew its holdings in shares of Alpha Metallurgical Resources by 208.0% in the 1st quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock valued at $13,290,000 after buying an additional 71,653 shares during the period. Intech Investment Management LLC increased its position in shares of Alpha Metallurgical Resources by 48.3% in the 1st quarter. Intech Investment Management LLC now owns 13,149 shares of the energy company’s stock valued at $1,647,000 after buying an additional 4,281 shares in the last quarter. Finally, Creative Planning increased its position in shares of Alpha Metallurgical Resources by 14.5% in the 2nd quarter. Creative Planning now owns 3,465 shares of the energy company’s stock valued at $390,000 after buying an additional 438 shares in the last quarter. Institutional investors own 84.29% of the company’s stock.

About Alpha Metallurgical Resources

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.