Alpha Metallurgical Resources, Inc. (NYSE:AMR) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) have received an average recommendation of “Reduce” from the seven research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $176.00.

AMR has been the topic of a number of research reports. Atlantic Securities set a $194.00 price target on shares of Alpha Metallurgical Resources in a research note on Thursday, April 30th. Weiss Ratings lowered shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Wall Street Zen cut shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 21st. Finally, UBS Group initiated coverage on Alpha Metallurgical Resources in a report on Friday, July 10th. They set a “neutral” rating and a $165.00 target price for the company.

Insider Activity

In other news, EVP Mark Matthew Manno sold 460 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $214.64, for a total transaction of $98,734.40. Following the completion of the transaction, the executive vice president directly owned 3,966 shares of the company’s stock, valued at $851,262.24. This represents a 10.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth S. Courtis acquired 15,000 shares of Alpha Metallurgical Resources stock in a transaction dated 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 completion of the transaction, the director directly owned 1,015,394 shares of the company’s stock, valued at $196,478,739. This trade represents a 1.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 18.20% of the company’s stock.

Institutional Trading of Alpha Metallurgical Resources

A number of institutional investors have recently made changes to their positions in AMR. Royal Bank of Canada boosted its holdings in Alpha Metallurgical Resources by 55.0% during the first quarter. Royal Bank of Canada now owns 2,029 shares of the energy company’s stock worth $254,000 after purchasing an additional 720 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Alpha Metallurgical Resources by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,548 shares of the energy company’s stock valued at $820,000 after purchasing an additional 295 shares in the last quarter. Millennium Management LLC increased its stake in Alpha Metallurgical Resources by 208.0% in the 1st quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock valued at $13,290,000 after buying an additional 71,653 shares during the last quarter. Intech Investment Management LLC increased its stake in Alpha Metallurgical Resources by 48.3% in the 1st quarter. Intech Investment Management LLC now owns 13,149 shares of the energy company’s stock valued at $1,647,000 after buying an additional 4,281 shares during the last quarter. Finally, Creative Planning lifted its position in Alpha Metallurgical Resources by 14.5% during the 2nd quarter. Creative Planning now owns 3,465 shares of the energy company’s stock worth $390,000 after buying an additional 438 shares in the last quarter. Institutional investors own 84.29% of the company’s stock.

Alpha Metallurgical Resources Trading Down 0.1%

NYSE:AMR opened at $209.90 on Tuesday. Alpha Metallurgical Resources has a fifty-two week low of $133.64 and a fifty-two week high of $253.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.41 and a quick ratio of 2.37. The stock has a market capitalization of $2.66 billion, a PE ratio of -58.63 and a beta of 0.65. The business’s 50-day simple moving average is $159.95 and its 200-day simple moving average is $180.85.

Alpha Metallurgical Resources (NYSE:AMR) last posted its earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. The business had revenue of $421.29 million during the quarter, compared to analysts’ expectations of $521.61 million. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%.Alpha Metallurgical Resources’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.38) EPS. Sell-side analysts expect that Alpha Metallurgical Resources will post -2.4 earnings per share for the current fiscal year.

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.