Kenneth Courtis Acquires 15,000 Shares of Alpha Metallurgical Resources (NYSE:AMR) Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis purchased 15,000 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was purchased at an average cost of $181.84 per share, for a total transaction of $2,727,600.00. Following the completion of the acquisition, the director directly owned 856,537 shares of the company’s stock, valued at approximately $155,752,688.08. The trade was a 1.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Alpha Metallurgical Resources Stock Performance

Shares of AMR stock traded up $2.25 during trading hours on Thursday, reaching $189.80. 435,173 shares of the company’s stock were exchanged, compared to its average volume of 295,954. Alpha Metallurgical Resources, Inc. has a fifty-two week low of $97.41 and a fifty-two week high of $253.82. The stock’s 50 day moving average is $202.78 and its 200-day moving average is $179.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.53 and a current ratio of 4.47.

Alpha Metallurgical Resources (NYSE:AMR) last announced its earnings results on Friday, February 27th. The energy company reported ($1.34) earnings per share for the quarter, hitting the consensus estimate of ($1.34). Alpha Metallurgical Resources had a negative return on equity of 3.88% and a negative net margin of 2.90%.The firm had revenue of $436.33 million for the quarter, compared to the consensus estimate of $538.45 million. During the same period in the previous year, the business earned ($0.16) EPS. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. On average, analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AMR shares. B. Riley Financial boosted their price target on Alpha Metallurgical Resources from $203.00 to $207.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $185.00 price objective on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Benchmark reiterated a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. Zacks Research downgraded shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research note on Monday, December 29th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Alpha Metallurgical Resources presently has an average rating of “Reduce” and an average target price of $196.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMR. Royal Bank of Canada boosted its position in Alpha Metallurgical Resources by 55.0% in the first quarter. Royal Bank of Canada now owns 2,029 shares of the energy company’s stock valued at $254,000 after buying an additional 720 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Alpha Metallurgical Resources by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,548 shares of the energy company’s stock worth $820,000 after buying an additional 295 shares during the last quarter. Millennium Management LLC raised its position in Alpha Metallurgical Resources by 208.0% during the 1st quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock worth $13,290,000 after buying an additional 71,653 shares during the last quarter. Intech Investment Management LLC lifted its stake in Alpha Metallurgical Resources by 48.3% during the 1st quarter. Intech Investment Management LLC now owns 13,149 shares of the energy company’s stock valued at $1,647,000 after acquiring an additional 4,281 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new stake in Alpha Metallurgical Resources during the 2nd quarter valued at approximately $391,000. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

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.