Kenneth Courtis Buys 36,000 Shares of Alpha Metallurgical Resources (NYSE:AMR) Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis purchased 36,000 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were purchased at an average price of $175.26 per share, with a total value of $6,309,360.00. Following the completion of the acquisition, the director directly owned 770,537 shares in the company, valued at $135,044,314.62. The trade was a 4.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Alpha Metallurgical Resources Price Performance

Alpha Metallurgical Resources stock traded up $0.06 during trading hours on Wednesday, reaching $178.92. The stock had a trading volume of 226,900 shares, compared to its average volume of 237,782. The company has a fifty day simple moving average of $165.03 and a 200-day simple moving average of $143.00. Alpha Metallurgical Resources, Inc. has a 52 week low of $97.41 and a 52 week high of $237.84. The stock has a market cap of $2.30 billion, a PE ratio of -50.26 and a beta of 0.91.

Alpha Metallurgical Resources (NYSE:AMR) last posted its earnings results on Thursday, November 6th. The energy company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.07). The firm had revenue of $526.78 million for the quarter, compared to analysts’ expectations of $543.77 million. Alpha Metallurgical Resources had a negative return on equity of 2.88% and a negative net margin of 2.09%.The business’s revenue for the quarter was down 21.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 earnings per share. Research analysts predict that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new stake in shares of Alpha Metallurgical Resources in the 3rd quarter worth about $25,000. Summit Securities Group LLC bought a new stake in Alpha Metallurgical Resources during the first quarter worth about $38,000. Hantz Financial Services Inc. grew its holdings in Alpha Metallurgical Resources by 361.5% in the third quarter. Hantz Financial Services Inc. now owns 240 shares of the energy company’s stock worth $39,000 after purchasing an additional 188 shares during the period. CWM LLC increased its stake in shares of Alpha Metallurgical Resources by 146.0% during the third quarter. CWM LLC now owns 246 shares of the energy company’s stock valued at $40,000 after purchasing an additional 146 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Alpha Metallurgical Resources by 48.9% during the third quarter. Farther Finance Advisors LLC now owns 265 shares of the energy company’s stock valued at $43,000 after purchasing an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Wall Street Analyst Weigh In

AMR has been the subject of a number of research 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. Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Monday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Alpha Metallurgical Resources 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.