Insider Buying: Alpha Metallurgical Resources (NYSE:AMR) Director Acquires 5,000 Shares of Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average price of $228.99 per share, for a total transaction of $1,144,950.00. Following the transaction, the director directly owned 1,025,394 shares in the company, valued at $234,804,972.06. This trade represents a 0.49% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Alpha Metallurgical Resources Stock Performance

Alpha Metallurgical Resources stock traded up $9.61 during mid-day trading on Monday, reaching $235.84. 417,847 shares of the company were exchanged, compared to its average volume of 287,487. Alpha Metallurgical Resources, Inc. has a twelve month low of $133.64 and a twelve month high of $253.82. The firm’s 50-day simple moving average is $162.65 and its two-hundred day simple moving average is $181.34. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 3.41. The firm has a market cap of $2.99 billion, a PE ratio of -65.88 and a beta of 0.65.

Alpha Metallurgical Resources (NYSE:AMR) last released its earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%.The business had revenue of $421.29 million for the quarter, compared to analyst estimates of $521.61 million. During the same quarter in the previous year, the company posted ($0.38) earnings per share. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities analysts predict that Alpha Metallurgical Resources, Inc. will post -2.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of institutional investors and hedge funds have recently made changes to their positions in AMR. Nykredit A S acquired a new stake in shares of Alpha Metallurgical Resources in the second quarter valued at about $25,000. Los Angeles Capital Management LLC acquired a new position in Alpha Metallurgical Resources during the fourth quarter worth about $29,000. Caitong International Asset Management Co. Ltd increased its holdings in Alpha Metallurgical Resources by 215.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company’s stock valued at $33,000 after buying an additional 112 shares in the last quarter. Leonteq Securities AG purchased a new position in Alpha Metallurgical Resources in the first quarter valued at about $37,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Alpha Metallurgical Resources in the fourth quarter valued at about $45,000. 84.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on AMR. Weiss Ratings cut shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. UBS Group assumed coverage on shares of Alpha Metallurgical Resources in a report on Friday, July 10th. They set a “neutral” rating and a $165.00 price target for the company. B. Riley Financial reduced their price objective on shares of Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, August 20th. Wall Street Zen lowered Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $160.00 target price on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alpha Metallurgical Resources presently has a consensus rating of “Reduce” and an average price target of $176.00.

Alpha Metallurgical Resources Company Profile

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.