Alpha Metallurgical Resources (NYSE:AMR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Alpha Metallurgical Resources (NYSE:AMR) from a sell rating to a hold rating in a research report released on Saturday.

A number of other analysts also recently weighed in on AMR. B. Riley decreased their target price on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a “buy” rating for the company in a research report on Tuesday, August 5th. Jefferies Financial Group upped their price objective on shares of Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a “hold” rating in a research note on Monday, August 11th.

Alpha Metallurgical Resources Stock Down 3.9%

Shares of NYSE:AMR opened at $141.04 on Friday. The firm has a market cap of $1.84 billion, a P/E ratio of -49.49 and a beta of 0.59. Alpha Metallurgical Resources has a 12-month low of $97.41 and a 12-month high of $255.04. The business has a fifty day simple moving average of $122.49 and a 200 day simple moving average of $128.90.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Friday, August 8th. The energy company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($2.38) by $2.00. Alpha Metallurgical Resources had a negative return on equity of 2.28% and a negative net margin of 1.57%. The company had revenue of $550.27 million during the quarter, compared to analysts’ expectations of $552.15 million. During the same quarter in the prior year, the firm posted $4.49 earnings per share. The business’s quarterly revenue was down 31.6% on a year-over-year basis. As a group, equities research analysts expect that Alpha Metallurgical Resources will post 14.31 EPS for the current year.

Insider Buying and Selling

In other news, CFO Joshua Todd Munsey sold 2,135 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $157.00, for a total transaction of $335,195.00. Following the completion of the sale, the chief financial officer owned 4,466 shares in the company, valued at $701,162. The trade was a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jason E. Whitehead sold 12,004 shares of Alpha Metallurgical Resources stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $161.84, for a total transaction of $1,942,727.36. Following the completion of the sale, the chief operating officer directly owned 9,673 shares of the company’s stock, valued at approximately $1,565,478.32. The trade was a 55.38% decrease in their position. The disclosure for this sale can be found here. Insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Summit Investment Advisors Inc. boosted its position in shares of Alpha Metallurgical Resources by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,150 shares of the energy company’s stock valued at $230,000 after buying an additional 73 shares during the last quarter. Bank of Montreal Can lifted its stake in Alpha Metallurgical Resources by 6.0% during the 4th quarter. Bank of Montreal Can now owns 1,318 shares of the energy company’s stock valued at $264,000 after acquiring an additional 75 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Alpha Metallurgical Resources by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,256 shares of the energy company’s stock worth $704,000 after acquiring an additional 76 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Alpha Metallurgical Resources by 4.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 2,688 shares of the energy company’s stock worth $302,000 after acquiring an additional 114 shares in the last quarter. Finally, Yousif Capital Management LLC raised its holdings in shares of Alpha Metallurgical Resources by 2.9% in the second quarter. Yousif Capital Management LLC now owns 4,429 shares of the energy company’s stock valued at $498,000 after purchasing an additional 126 shares during the last quarter. Institutional investors and hedge funds 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.