Insider Buying: Alpha Metallurgical Resources (NYSE:AMR) Director Acquires 10,000 Shares

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis bought 10,000 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was purchased at an average cost of $225.83 per share, with a total value of $2,258,300.00. Following the completion of the transaction, the director directly owned 1,035,394 shares of the company’s stock, valued at approximately $233,823,027.02. The trade was a 0.98% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Alpha Metallurgical Resources Stock Performance

NYSE:AMR traded down $1.97 on Tuesday, reaching $223.44. 263,085 shares of the company’s stock were exchanged, compared to its average volume of 349,685. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of -62.41 and a beta of 0.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.41 and a quick ratio of 2.37. The stock has a fifty day simple moving average of $171.13 and a 200-day simple moving average of $183.39. 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 issued its quarterly earnings data 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 return on equity of 2.99% and a negative net margin of 2.23%.The business had revenue of $421.29 million for the quarter, compared to analysts’ expectations of $521.61 million. During the same quarter in the prior year, the firm posted ($0.38) EPS. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, sell-side analysts predict that Alpha Metallurgical Resources, Inc. will post -2.4 earnings per share for the current year.

Institutional Trading of Alpha Metallurgical Resources

A number of institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new position in Alpha Metallurgical Resources during the 4th quarter valued at about $29,000. Nykredit A S purchased a new stake in Alpha Metallurgical Resources in the 2nd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in Alpha Metallurgical Resources by 215.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company’s stock worth $33,000 after buying an additional 112 shares during the period. Leonteq Securities AG bought a new stake in shares of Alpha Metallurgical Resources in the 1st quarter worth approximately $37,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at approximately $45,000. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Jefferies Financial Group reiterated a “hold” rating and set a $160.00 price objective on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. B. Riley Financial cut their target price on Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, August 20th. Zacks Research cut shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research 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. Finally, Weiss Ratings lowered shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alpha Metallurgical Resources presently has an average rating of “Reduce” and a consensus target price of $176.00.

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.