Alpha Metallurgical Resources (NYSE:AMR) Trading 5.7% Higher After Analyst Upgrade

Alpha Metallurgical Resources, Inc. (NYSE:AMR) shares shot up 5.7% during trading on Tuesday after B. Riley raised their price target on the stock from $374.00 to $375.00. B. Riley currently has a buy rating on the stock. Alpha Metallurgical Resources traded as high as $313.55 and last traded at $313.55. 23,983 shares changed hands during trading, a decline of 90% from the average session volume of 238,406 shares. The stock had previously closed at $296.64.

Separately, Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Tuesday.

Insider Activity at Alpha Metallurgical Resources

In other news, Director David J. Stetson sold 4,502 shares of Alpha Metallurgical Resources stock in a transaction on Friday, March 1st. The shares were sold at an average price of $388.26, for a total value of $1,747,946.52. Following the completion of the sale, the director now owns 20,104 shares in the company, valued at approximately $7,805,579.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alpha Metallurgical Resources news, Director David J. Stetson sold 30,694 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $392.30, for a total value of $12,041,256.20. Following the completion of the sale, the director now owns 26,054 shares of the company’s stock, valued at $10,220,984.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David J. Stetson sold 4,502 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $388.26, for a total value of $1,747,946.52. Following the sale, the director now owns 20,104 shares of the company’s stock, valued at approximately $7,805,579.04. The disclosure for this sale can be found here. Insiders have sold a total of 153,971 shares of company stock worth $55,479,986 in the last 90 days. Corporate insiders own 16.40% of the company’s stock.

Institutional Trading of Alpha Metallurgical Resources

Several hedge funds have recently bought and sold shares of AMR. GAMMA Investing LLC acquired a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at about $33,000. Wetzel Investment Advisors Inc. acquired a new position in Alpha Metallurgical Resources during the 4th quarter valued at about $34,000. Quadrant Capital Group LLC bought a new stake in Alpha Metallurgical Resources during the 4th quarter worth approximately $35,000. Creekmur Asset Management LLC bought a new stake in Alpha Metallurgical Resources during the 4th quarter worth approximately $36,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Alpha Metallurgical Resources by 947.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 178 shares of the energy company’s stock worth $60,000 after purchasing an additional 161 shares during the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

Alpha Metallurgical Resources Stock Down 1.3 %

The company has a 50-day moving average of $330.80 and a 200-day moving average of $325.23. The company has a market cap of $3.91 billion, a PE ratio of 6.17 and a beta of 1.38.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings data on Monday, May 6th. The energy company reported $9.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.61 by ($0.02). Alpha Metallurgical Resources had a return on equity of 46.22% and a net margin of 20.80%. The firm had revenue of $864.07 million for the quarter, compared to analysts’ expectations of $845.35 million. During the same period in the prior year, the firm earned $17.01 earnings per share. Alpha Metallurgical Resources’s revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts predict that Alpha Metallurgical Resources, Inc. will post 29.82 EPS for the current year.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc, a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company offers metallurgical coal products. It operates twenty-two active mines and nine coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc and changed its name to Alpha Metallurgical Resources, Inc in February 2021.