Alpha Metallurgical Resources (NYSE:AMR) Downgraded by Texas Capital to “Hold”

Texas Capital lowered shares of Alpha Metallurgical Resources (NYSE:AMR) from a strong-buy rating to a hold rating in a report issued on Thursday morning,Zacks.com reports.

A number of other equities research analysts have also weighed in on AMR. Jefferies Financial Group boosted their price objective on shares of Alpha Metallurgical Resources from $165.00 to $205.00 and gave the stock a “hold” rating in a report on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $188.00.

Alpha Metallurgical Resources Trading Up 2.4%

AMR opened at $220.93 on Thursday. The stock has a market capitalization of $2.84 billion, a P/E ratio of -62.06 and a beta of 0.79. The stock has a 50-day moving average price of $202.84 and a 200-day moving average price of $168.99. Alpha Metallurgical Resources has a 12-month low of $97.41 and a 12-month high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings data on Thursday, November 6th. The energy company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.07). The firm had revenue of $526.78 million for the quarter, compared to analysts’ expectations of $543.77 million. Alpha Metallurgical Resources had a negative net margin of 2.09% and a negative return on equity of 2.88%. The business’s quarterly revenue was down 21.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 earnings per share. On average, equities research analysts predict that Alpha Metallurgical Resources will post 14.31 EPS for the current year.

Insider Buying and Selling at Alpha Metallurgical Resources

In other news, Director Michael Gorzynski purchased 38,576 shares of the company’s stock in a transaction on Monday, December 15th. The stock was acquired at an average price of $188.50 per share, with a total value of $7,271,576.00. Following the transaction, the director directly owned 644,025 shares of the company’s stock, valued at approximately $121,398,712.50. This represents a 6.37% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel E. Horn sold 8,125 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $188.32, for a total transaction of $1,530,100.00. Following the completion of the transaction, the insider owned 4,989 shares in the company, valued at $939,528.48. The trade was a 61.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders bought 98,576 shares of company stock valued at $17,994,174 in the last quarter. Company insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several institutional investors and hedge funds have recently bought and sold shares of AMR. Financial Management Professionals Inc. purchased a new position in shares of Alpha Metallurgical Resources during the third quarter valued at approximately $25,000. Hantz Financial Services Inc. boosted its holdings in Alpha Metallurgical Resources by 361.5% in the third quarter. Hantz Financial Services Inc. now owns 240 shares of the energy company’s stock valued at $39,000 after acquiring an additional 188 shares in the last quarter. CWM LLC increased its position in Alpha Metallurgical Resources by 146.0% during the 3rd quarter. CWM LLC now owns 246 shares of the energy company’s stock valued at $40,000 after purchasing an additional 146 shares during the period. Farther Finance Advisors LLC raised its holdings in Alpha Metallurgical Resources by 48.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 265 shares of the energy company’s stock worth $43,000 after purchasing an additional 87 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Alpha Metallurgical Resources by 85.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 380 shares of the energy company’s stock worth $62,000 after purchasing an additional 175 shares in the last quarter. Hedge funds and other 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.