Alpha Metallurgical Resources (NYSE:AMR) Trading Up 7.6% – Time to Buy?

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s stock price shot up 7.6% during mid-day trading on Tuesday . The stock traded as high as $187.58 and last traded at $188.7430. Approximately 130,489 shares changed hands during trading, a decline of 55% from the average daily volume of 290,194 shares. The stock had previously closed at $175.49.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. B. Riley Financial cut their target price on shares of Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, August 20th. Zacks Research downgraded Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, August 27th. Wall Street Zen downgraded shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings lowered Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price objective on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $176.00.

Alpha Metallurgical Resources Stock Up 7.5%

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 3.41. The company has a market cap of $2.39 billion, a P/E ratio of -52.76 and a beta of 0.68. The business’s fifty day moving average is $178.74 and its two-hundred day moving average is $184.88.

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

Insider Activity at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, Director Kenneth Courtis purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was bought at an average cost of $225.83 per share, with a total value of $2,258,300.00. Following the purchase, the director directly owned 1,035,394 shares of the company’s stock, valued at $233,823,027.02. The trade was a 0.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders bought 35,000 shares of company stock valued at $7,388,400 in the last 90 days. Insiders own 18.20% of the company’s stock.

Institutional Trading of Alpha Metallurgical Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Alpha Metallurgical Resources during the 2nd quarter worth approximately $299,230,000. Dimensional Fund Advisors LP grew its position in Alpha Metallurgical Resources by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 721,872 shares of the energy company’s stock valued at $148,192,000 after acquiring an additional 38,300 shares in the last quarter. Dalal Street LLC lifted its stake in shares of Alpha Metallurgical Resources by 2.1% in the fourth quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock worth $108,535,000 after acquiring an additional 11,000 shares in the last quarter. Goehring & Rozencwajg Associates LLC raised its stake in shares of Alpha Metallurgical Resources by 206.8% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company’s stock valued at $49,683,000 after purchasing an additional 163,144 shares in the last quarter. Finally, Crocodile Capital Partners GmbH raised its stake in Alpha Metallurgical Resources by 0.4% during the 2nd quarter. Crocodile Capital Partners GmbH now owns 245,119 shares of the energy company’s stock valued at $40,430,000 after acquiring an additional 1,000 shares in the last quarter. 84.29% of the stock is owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc is a mining company that produces and markets metallurgical coal, a key raw material used in steelmaking. Its products include premium and high-volatility metallurgical coal, as well as thermal coal, which is used primarily for electricity generation.

The company operates underground and surface mines and related processing facilities in Central Appalachia, principally in Virginia and West Virginia. Alpha sells its coal to domestic and international steel producers, coke manufacturers, and other industrial customers, serving markets in North America, Asia, Europe, and elsewhere.

Alpha Metallurgical Resources was formed from the restructuring of the former Alpha Natural Resources business and operated as Contura Energy before adopting its current name in 2021.