Insider Selling: Alpha Metallurgical Resources (NYSE:AMR) COO Sells $828,104.28 in Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) COO Jason Whitehead sold 3,901 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $212.28, for a total value of $828,104.28. Following the sale, the chief operating officer directly owned 10,450 shares in the company, valued at approximately $2,218,326. The trade was a 27.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Alpha Metallurgical Resources Stock Performance

Alpha Metallurgical Resources stock opened at $203.32 on Friday. The stock’s 50 day simple moving average is $195.88 and its two-hundred day simple moving average is $195.20. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.81 and a current ratio of 3.67. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of -67.77 and a beta of 0.62. Alpha Metallurgical Resources, Inc. has a fifty-two week low of $97.41 and a fifty-two week high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings data on Friday, May 8th. The energy company reported ($0.86) earnings per share for the quarter, meeting the consensus estimate of ($0.86). The business had revenue of $447.32 million for the quarter, compared to analysts’ expectations of $535.15 million. Alpha Metallurgical Resources had a negative return on equity of 2.47% and a negative net margin of 1.83%.The business’s revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.60) EPS. As a group, analysts expect that Alpha Metallurgical Resources, Inc. will post 11.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in Alpha Metallurgical Resources by 21.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 91,732 shares of the energy company’s stock worth $15,052,000 after acquiring an additional 16,295 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in Alpha Metallurgical Resources by 83.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 20,719 shares of the energy company’s stock worth $3,400,000 after acquiring an additional 9,412 shares during the last quarter. Systrade AG purchased a new position in Alpha Metallurgical Resources in the 4th quarter worth approximately $55,966,000. Contrarius Group Holdings Ltd purchased a new position in Alpha Metallurgical Resources in the 3rd quarter worth approximately $12,146,000. Finally, Crocodile Capital Partners GmbH purchased a new position in Alpha Metallurgical Resources in the 4th quarter worth approximately $40,999,000. Institutional investors own 84.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AMR shares. Jefferies Financial Group reissued a “hold” rating and issued a $185.00 price target on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Atlantic Securities set a $194.00 price objective on Alpha Metallurgical Resources in a research report on Thursday, April 30th. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. B. Riley Financial raised their price objective on Alpha Metallurgical Resources from $203.00 to $207.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Friday, March 27th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $195.33.

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.