Zacks Research Upgrades Alpha Metallurgical Resources (NYSE:AMR) to Hold

Alpha Metallurgical Resources (NYSE:AMR) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings cut Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 target price on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. 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, August 20th. UBS Group increased their price target on shares of Alpha Metallurgical Resources from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. Finally, Wall Street Zen downgraded shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Alpha Metallurgical Resources presently has an average rating of “Reduce” and a consensus target price of $179.75.

Alpha Metallurgical Resources Trading Down 1.2%

Alpha Metallurgical Resources stock opened at $158.23 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 3.41. The business’s 50-day simple moving average is $190.37 and its 200-day simple moving average is $181.64. The firm has a market capitalization of $2.01 billion, a PE ratio of -44.20 and a beta of 0.85. Alpha Metallurgical Resources has a 52 week low of $133.64 and a 52 week high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%. The business had revenue of $421.29 million during the quarter, compared to analysts’ expectations of $521.61 million. During the same quarter in the previous year, the firm earned ($0.38) EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. Equities research analysts forecast that Alpha Metallurgical Resources will post -2.40 earnings per share for the current year.

Insider Activity at Alpha Metallurgical Resources

In other news, Director Kenneth Courtis acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were bought at an average price of $225.83 per share, with a total value of $2,258,300.00. Following the acquisition, the director owned 1,035,394 shares of the company’s stock, valued at $233,823,027.02. This trade represents a 0.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders purchased 35,000 shares of company stock valued at $7,388,400. 18.20% of the stock is currently owned by company insiders.

Institutional Trading of Alpha Metallurgical Resources

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quantinno Capital Management LP raised its stake in shares of Alpha Metallurgical Resources by 12.6% in the first quarter. Quantinno Capital Management LP now owns 1,280 shares of the energy company’s stock valued at $263,000 after purchasing an additional 143 shares in the last quarter. Nykredit A S acquired a new stake in Alpha Metallurgical Resources during the second quarter worth $25,000. Tidal Investments LLC boosted its stake in Alpha Metallurgical Resources by 10.2% during the second quarter. Tidal Investments LLC now owns 1,884 shares of the energy company’s stock worth $311,000 after buying an additional 174 shares in the last quarter. Leonteq Securities AG acquired a new stake in Alpha Metallurgical Resources during the first quarter worth $37,000. Finally, Meeder Asset Management Inc. acquired a new stake in Alpha Metallurgical Resources during the second quarter worth $49,000. 84.29% of the stock is currently owned by institutional investors.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc is a mining company focused primarily on the production and sale of metallurgical coal. Its coal is used by steelmakers and coke producers in the manufacturing of steel, with additional sales of thermal coal for power generation. The company serves domestic and international customers through a network of mines and related operations.

Alpha operates principally in the Central Appalachian region, with mining assets in West Virginia and Virginia. Its activities include underground and surface mining, coal preparation, processing, and transportation.