Alpha Metallurgical Resources (NYSE:AMR) Raised to “Hold” at Zacks Research

Alpha Metallurgical Resources (NYSE:AMR) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently commented on the company. Atlantic Securities set a $194.00 target price on Alpha Metallurgical Resources in a report on Thursday, April 30th. UBS Group assumed coverage on Alpha Metallurgical Resources in a research note on Friday, July 10th. They issued a “neutral” rating and a $165.00 price target on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $160.00 price target on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. B. Riley Financial reduced their price objective on Alpha Metallurgical Resources from $194.00 to $189.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Wednesday, June 24th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $177.00.

Alpha Metallurgical Resources Stock Up 3.3%

AMR stock opened at $143.74 on Wednesday. Alpha Metallurgical Resources has a 52 week low of $113.00 and a 52 week high of $253.82. The company has a quick ratio of 2.81, a current ratio of 3.67 and a debt-to-equity ratio of 0.01. The firm has a 50-day simple moving average of $171.71 and a 200-day simple moving average of $188.54. The stock has a market capitalization of $1.83 billion, a P/E ratio of -47.91 and a beta of 0.63.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Friday, May 8th. The energy company reported ($0.86) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.86). Alpha Metallurgical Resources had a negative net margin of 1.83% and a negative return on equity of 2.47%. The firm had revenue of $447.32 million for the quarter, compared to analyst estimates of $535.15 million. During the same period last year, the company posted ($2.60) EPS. Alpha Metallurgical Resources’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities analysts forecast that Alpha Metallurgical Resources will post 0.2 earnings per share for the current fiscal year.

Insider Activity

In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis purchased 15,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $189.22 per share, for a total transaction of $2,838,300.00. Following the acquisition, the director owned 975,394 shares in the company, valued at $184,564,052.68. This trade represents a 1.56% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Matthew Manno sold 460 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $214.64, for a total value of $98,734.40. Following the transaction, the executive vice president owned 3,966 shares of the company’s stock, valued at approximately $851,262.24. This represents a 10.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new stake in shares of Alpha Metallurgical Resources during the fourth quarter valued at about $29,000. Caitong International Asset Management Co. Ltd raised its stake in shares of 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 valued at $33,000 after acquiring an additional 112 shares during the period. Leonteq Securities AG acquired a new position in shares of Alpha Metallurgical Resources in the 1st quarter worth approximately $37,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Alpha Metallurgical Resources in the 4th quarter worth approximately $45,000. Finally, Hantz Financial Services Inc. boosted its position in shares of Alpha Metallurgical Resources by 67.9% during the 4th quarter. Hantz Financial Services Inc. now owns 403 shares of the energy company’s stock worth $81,000 after purchasing an additional 163 shares during the period. 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.