Alpha Metallurgical Resources (NYSE:AMR) Trading 5.7% Higher – Time to Buy?

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s stock price shot up 5.7% during trading on Wednesday . The stock traded as high as $199.00 and last traded at $197.28. 65,919 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 318,813 shares. The stock had previously closed at $186.65.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research note on Monday. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alpha Metallurgical Resources has a consensus rating of “Hold” and a consensus target price of $160.50.

Alpha Metallurgical Resources Trading Up 4.8%

The stock has a market cap of $2.52 billion, a PE ratio of -54.86 and a beta of 0.91. The business has a 50-day moving average price of $166.65 and a 200 day moving average price of $145.22.

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

Insider Buying and Selling

In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis bought 36,000 shares of the stock in a transaction on Monday, December 8th. The shares were acquired at an average price of $175.26 per share, with a total value of $6,309,360.00. Following the acquisition, the director directly owned 770,537 shares of the company’s stock, valued at $135,044,314.62. The trade was a 4.90% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel E. Horn sold 8,125 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $188.32, for a total value of $1,530,100.00. Following the completion of the transaction, the insider directly owned 4,989 shares of the company’s stock, valued at $939,528.48. The trade was a 61.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders purchased a total of 51,000 shares of company stock valued at $9,029,158 over the last quarter. 16.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several hedge funds and other institutional investors have recently modified their holdings of AMR. Financial Management Professionals Inc. purchased a new position in Alpha Metallurgical Resources during the third quarter valued at approximately $25,000. Hantz Financial Services Inc. grew its position in shares of Alpha Metallurgical Resources by 361.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 240 shares of the energy company’s stock valued at $39,000 after purchasing an additional 188 shares in the last quarter. CWM LLC increased its stake in Alpha Metallurgical Resources by 146.0% in the 3rd quarter. CWM LLC now owns 246 shares of the energy company’s stock worth $40,000 after acquiring an additional 146 shares during the last quarter. Farther Finance Advisors LLC raised its stake in 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 purchasing an additional 87 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Alpha Metallurgical Resources during the 1st quarter worth $38,000. 84.29% of the stock is currently owned by institutional investors.

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.