Kenneth Courtis Buys 55,000 Shares of Alpha Metallurgical Resources (NYSE:AMR) Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis bought 55,000 shares of the company’s stock in a transaction on Friday, September 12th. The shares were bought at an average price of $142.64 per share, for a total transaction of $7,845,200.00. Following the transaction, the director owned 681,537 shares of the company’s stock, valued at approximately $97,214,437.68. This represents a 8.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Alpha Metallurgical Resources Price Performance

NYSE:AMR opened at $164.73 on Friday. Alpha Metallurgical Resources, Inc. has a 1 year low of $97.41 and a 1 year high of $255.04. The company has a market cap of $2.15 billion, a P/E ratio of -57.80 and a beta of 0.64. The stock’s fifty day moving average price is $138.42 and its two-hundred day moving average price is $126.03.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings data on Friday, August 8th. The energy company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.38) by $2.00. Alpha Metallurgical Resources had a negative return on equity of 2.28% and a negative net margin of 1.57%.The company had revenue of $550.27 million for the quarter, compared to the consensus estimate of $552.15 million. During the same quarter last year, the business posted $4.49 earnings per share. The firm’s revenue was down 31.6% compared to the same quarter last year. On average, analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Hedge funds have recently modified their holdings of the business. Signaturefd LLC grew its position in shares of Alpha Metallurgical Resources by 306.1% during the 1st quarter. Signaturefd LLC now owns 199 shares of the energy company’s stock valued at $25,000 after acquiring an additional 150 shares during the period. AdvisorNet Financial Inc grew its position in shares of Alpha Metallurgical Resources by 214.3% during the 1st quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company’s stock valued at $28,000 after acquiring an additional 150 shares during the period. Summit Securities Group LLC bought a new stake in shares of Alpha Metallurgical Resources during the 1st quarter valued at $38,000. Public Employees Retirement System of Ohio bought a new stake in shares of Alpha Metallurgical Resources during the 4th quarter valued at $60,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Alpha Metallurgical Resources during the 1st quarter valued at $64,000. Institutional investors own 84.29% of the company’s stock.

Wall Street Analysts Forecast Growth

AMR has been the topic of several recent analyst reports. Wall Street Zen raised Alpha Metallurgical Resources from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Jefferies Financial Group raised their target price on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, August 11th. Finally, B. Riley cut their target price on Alpha Metallurgical Resources from $173.00 to $171.00 and set a “buy” rating on the stock in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $160.50.

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.