Alpha Metallurgical Resources (NYSE:AMR) Director Kenneth Courtis Purchases 15,000 Shares

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis purchased 15,000 shares of the stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $193.50 per share, with a total value of $2,902,500.00. Following the transaction, the director owned 1,000,394 shares of the company’s stock, valued at $193,576,239. This trade represents a 1.52% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Alpha Metallurgical Resources Stock Down 0.3%

AMR stock traded down $0.57 during midday trading on Thursday, hitting $193.85. 513,838 shares of the company’s stock were exchanged, compared to its average volume of 344,798. The company has a current ratio of 3.41, a quick ratio of 2.37 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average price of $159.37 and a 200-day moving average price of $180.80. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -54.15 and a beta of 0.65. Alpha Metallurgical Resources, Inc. has a 12-month low of $133.64 and a 12-month high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last issued its earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The business had revenue of $421.29 million for the quarter, compared to analyst estimates of $521.61 million. During the same quarter in the prior year, the business posted ($0.38) EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, analysts anticipate that Alpha Metallurgical Resources, Inc. will post 0.2 EPS for the current year.

Analyst Upgrades and Downgrades

AMR has been the topic of several research reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Wall Street Zen downgraded shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Zacks Research raised shares of Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. B. Riley Financial cut their target price on shares of Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Atlantic Securities set a $194.00 target price on Alpha Metallurgical Resources in a research note on Thursday, April 30th. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $176.00.

Institutional Trading of Alpha Metallurgical Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new stake in Alpha Metallurgical Resources during the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd grew its position in shares of Alpha Metallurgical Resources by 215.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company’s stock valued at $33,000 after buying an additional 112 shares during the last quarter. Leonteq Securities AG acquired a new position in shares of Alpha Metallurgical Resources during the 1st quarter valued at $37,000. Aster Capital Management DIFC Ltd acquired a new position in Alpha Metallurgical Resources during the 4th quarter valued at about $45,000. Finally, Meeder Asset Management Inc. bought a new stake in Alpha Metallurgical Resources during the 2nd quarter worth approximately $49,000. 84.29% of the stock is currently owned by institutional investors and hedge funds.

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.