Alpha Metallurgical Resources (NYSE:AMR) Stock Rating Lowered by Texas Capital

Alpha Metallurgical Resources (NYSE:AMR) was downgraded by Texas Capital from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

AMR has been the subject of a number of other research reports. Jefferies Financial Group increased their target price on shares of Alpha Metallurgical Resources from $165.00 to $205.00 and gave the stock a “hold” rating in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Alpha Metallurgical Resources has a consensus rating of “Hold” and a consensus price target of $188.00.

Alpha Metallurgical Resources Stock Performance

NYSE AMR opened at $220.93 on Thursday. Alpha Metallurgical Resources has a twelve month low of $97.41 and a twelve month high of $253.82. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -62.06 and a beta of 0.79. The firm’s 50 day moving average price is $202.84 and its two-hundred day moving average price is $168.99.

Alpha Metallurgical Resources (NYSE:AMR) last issued its earnings results on Thursday, November 6th. The energy company reported ($0.42) EPS for the quarter, missing the consensus estimate 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 quarterly revenue was down 21.6% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. On average, research analysts forecast that Alpha Metallurgical Resources will post 14.31 EPS for the current fiscal year.

Insider Activity at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, Director Michael Gorzynski acquired 38,576 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was purchased 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 trade represents a 6.37% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kenneth S. Courtis bought 9,000 shares of the business’s stock in a transaction on Monday, December 15th. The shares were bought at an average price of $188.16 per share, for a total transaction of $1,693,440.00. Following the completion of the acquisition, the director owned 816,537 shares of the company’s stock, valued at approximately $153,639,601.92. This represents a 1.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 98,576 shares of company stock valued at $17,994,174. Insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Alpha Metallurgical Resources by 27.2% during the second quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after purchasing an additional 185,281 shares during the last quarter. Dalal Street LLC boosted its holdings in shares of Alpha Metallurgical Resources by 15.6% during the 3rd quarter. Dalal Street LLC now owns 532,000 shares of the energy company’s stock worth $87,296,000 after buying an additional 71,673 shares during the period. American Century Companies Inc. boosted its holdings in shares of Alpha Metallurgical Resources by 5.6% during the 3rd quarter. American Century Companies Inc. now owns 416,577 shares of the energy company’s stock worth $68,356,000 after buying an additional 22,243 shares during the period. Gendell Jeffrey L grew its stake in Alpha Metallurgical Resources by 30.9% in the 2nd quarter. Gendell Jeffrey L now owns 296,396 shares of the energy company’s stock valued at $33,339,000 after buying an additional 69,950 shares during the last quarter. Finally, Systrade AG bought a new position in Alpha Metallurgical Resources in the 4th quarter worth $55,966,000. 84.29% of the stock is currently owned by institutional investors and hedge funds.

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.