Alpha Metallurgical Resources (NYSE:AMR) Hits New 1-Year High – What’s Next?

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $216.00 and last traded at $214.3870, with a volume of 76710 shares. The stock had previously closed at $201.82.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Alpha Metallurgical Resources currently has an average rating of “Hold” and an average price target of $160.50.

Alpha Metallurgical Resources Stock Performance

The firm has a market capitalization of $2.73 billion, a PE ratio of -59.49 and a beta of 0.79. The firm’s 50 day moving average price is $178.92 and its 200-day moving average price is $154.33.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly 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 business had revenue of $526.78 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 EPS. On average, equities research analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Kenneth S. Courtis acquired 36,000 shares of Alpha Metallurgical Resources stock in a transaction on Monday, December 8th. The stock was bought at an average cost of $175.26 per share, for a total transaction of $6,309,360.00. Following the completion of the transaction, the director owned 770,537 shares of the company’s stock, valued at approximately $135,044,314.62. The trade was a 4.90% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Gorzynski acquired 38,576 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were bought at an average cost of $188.50 per share, for a total transaction of $7,271,576.00. Following the completion of the acquisition, the director owned 644,025 shares of the company’s stock, valued at approximately $121,398,712.50. This represents a 6.37% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 98,576 shares of company stock worth $17,994,174 in the last quarter. Corporate insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new position in Alpha Metallurgical Resources in the 3rd quarter valued at $25,000. Hantz Financial Services Inc. grew its holdings in shares of Alpha Metallurgical Resources by 361.5% during the third quarter. Hantz Financial Services Inc. now owns 240 shares of the energy company’s stock worth $39,000 after buying an additional 188 shares in the last quarter. CWM LLC raised its position in shares of Alpha Metallurgical Resources by 146.0% in the third quarter. CWM LLC now owns 246 shares of the energy company’s stock valued at $40,000 after buying an additional 146 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Alpha Metallurgical Resources by 48.9% in the third quarter. Farther Finance Advisors LLC now owns 265 shares of the energy company’s stock valued at $43,000 after buying an additional 87 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Alpha Metallurgical Resources by 85.4% during the third quarter. PNC Financial Services Group Inc. now owns 380 shares of the energy company’s stock worth $62,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.

About Alpha Metallurgical Resources

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.