Alpha Metallurgical Resources (NYSE:AMR) Trading 3.8% Higher

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s share price shot up 3.8% during mid-day trading on Tuesday . The company traded as high as $338.43 and last traded at $337.04. 60,582 shares were traded during trading, a decline of 75% from the average session volume of 243,410 shares. The stock had previously closed at $324.80.

Analysts Set New Price Targets

Separately, B. Riley reduced their price target on shares of Alpha Metallurgical Resources from $381.00 to $374.00 and set a “buy” rating on the stock in a research note on Monday.

Alpha Metallurgical Resources Trading Down 2.0 %

The business’s 50 day moving average price is $348.56 and its two-hundred day moving average price is $316.05. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 7.03 and a beta of 1.35.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings results on Monday, February 26th. The energy company reported $12.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.78 by $4.10. Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. The company had revenue of $959.90 million for the quarter, compared to the consensus estimate of $796.65 million. During the same period last year, the company posted $13.37 EPS. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. Analysts expect that Alpha Metallurgical Resources, Inc. will post 29.82 EPS for the current year.

Insider Activity

In related news, CAO Roger Lee Nicholson sold 6,629 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $369.71, for a total value of $2,450,807.59. Following the completion of the transaction, the chief accounting officer now owns 10,720 shares in the company, valued at approximately $3,963,291.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director David J. Stetson sold 30,694 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $392.30, for a total value of $12,041,256.20. Following the completion of the transaction, the director now owns 26,054 shares in the company, valued at approximately $10,220,984.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Roger Lee Nicholson sold 6,629 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $369.71, for a total transaction of $2,450,807.59. Following the completion of the transaction, the chief accounting officer now owns 10,720 shares of the company’s stock, valued at approximately $3,963,291.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,971 shares of company stock worth $55,479,986. Corporate insiders own 15.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AMR. Fuller & Thaler Asset Management Inc. bought a new position in Alpha Metallurgical Resources during the 3rd quarter worth approximately $128,857,000. Pacer Advisors Inc. bought a new position in Alpha Metallurgical Resources during the 4th quarter worth approximately $139,291,000. Renaissance Technologies LLC raised its holdings in Alpha Metallurgical Resources by 545.5% during the 1st quarter. Renaissance Technologies LLC now owns 304,115 shares of the energy company’s stock worth $40,131,000 after purchasing an additional 257,000 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Alpha Metallurgical Resources by 13,521.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 222,855 shares of the energy company’s stock worth $39,000 after purchasing an additional 221,219 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Alpha Metallurgical Resources by 17.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,492,124 shares of the energy company’s stock worth $204,182,000 after purchasing an additional 216,652 shares during the last quarter. Institutional investors own 84.29% of the company’s stock.

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.