Alpha Metallurgical Resources, Inc. (NYSE:AMR) Sees Large Increase in Short Interest

Alpha Metallurgical Resources, Inc. (NYSE:AMR) was the recipient of a significant growth in short interest in February. As of February 27th, there was short interest totaling 1,963,390 shares, a growth of 17.2% from the February 12th total of 1,675,954 shares. Based on an average trading volume of 324,757 shares, the short-interest ratio is currently 6.0 days. Currently, 18.3% of the company’s shares are sold short. Currently, 18.3% of the company’s shares are sold short. Based on an average trading volume of 324,757 shares, the short-interest ratio is currently 6.0 days.

Analysts Set New Price Targets

Several equities analysts have recently commented on AMR shares. Jefferies Financial Group restated a “hold” rating and set a $185.00 price target on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. B. Riley Financial increased their target price on shares of Alpha Metallurgical Resources from $203.00 to $207.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Monday, December 29th. Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday, March 2nd. Finally, Texas Capital cut shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Four investment 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, the company presently has a consensus rating of “Reduce” and an average price target of $196.00.

Insider Activity at Alpha Metallurgical Resources

In related news, insider Daniel E. Horn sold 971 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $170.05, for a total value of $165,118.55. Following the transaction, the insider owned 7,320 shares of the company’s stock, valued at $1,244,766. This represents a 11.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joshua Todd Munsey sold 2,523 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $183.24, for a total value of $462,314.52. Following the transaction, the chief financial officer owned 4,735 shares in the company, valued at $867,641.40. The trade was a 34.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders bought 50,000 shares of company stock worth $9,002,050. Company insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

A number of large investors have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new stake in Alpha Metallurgical Resources during the 2nd quarter worth about $958,000. Investment House LLC grew its stake in Alpha Metallurgical Resources by 112.4% during the 3rd quarter. Investment House LLC now owns 12,341 shares of the energy company’s stock valued at $2,025,000 after purchasing an additional 6,531 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Alpha Metallurgical Resources by 83.2% in the third quarter. Allianz Asset Management GmbH now owns 20,719 shares of the energy company’s stock valued at $3,400,000 after purchasing an additional 9,412 shares during the period. Contrarius Group Holdings Ltd purchased a new position in shares of Alpha Metallurgical Resources in the third quarter worth about $12,146,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Alpha Metallurgical Resources by 21.6% in the third quarter. JPMorgan Chase & Co. now owns 91,732 shares of the energy company’s stock worth $15,052,000 after purchasing an additional 16,295 shares during the last quarter. 84.29% of the stock is owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Stock Performance

Shares of Alpha Metallurgical Resources stock opened at $187.64 on Tuesday. The company has a 50 day moving average price of $202.18 and a 200 day moving average price of $180.74. The firm has a market capitalization of $2.40 billion, a P/E ratio of -39.59 and a beta of 0.79. The company has a quick ratio of 3.53, a current ratio of 4.47 and a debt-to-equity ratio of 0.01. Alpha Metallurgical Resources has a 52 week low of $97.41 and a 52 week high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last released 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 net margin of 2.90% and a negative return on equity of 3.88%. The company had revenue of $436.33 million for the quarter, compared to the consensus estimate of $538.45 million. During the same quarter in the previous year, the firm earned ($0.16) EPS. Alpha Metallurgical Resources’s revenue was down 15.7% compared to the same quarter last year. Sell-side analysts expect that Alpha Metallurgical Resources will post 14.31 EPS for the current year.

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.