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

Alpha Metallurgical Resources, Inc. (NYSE:AMR) has been given a consensus recommendation of “Reduce” by the seven brokerages that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $177.00.

A number of analysts have recently issued reports on AMR shares. Zacks Research downgraded shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Atlantic Securities set a $194.00 target price on shares of Alpha Metallurgical Resources in a report on Thursday, April 30th. Jefferies Financial Group restated a “hold” rating and set a $160.00 target price on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. UBS Group assumed coverage on shares of Alpha Metallurgical Resources in a research report on Friday, July 10th. They issued a “neutral” rating and a $165.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research note on Wednesday, June 24th.

Insider Activity

In related news, EVP Mark Matthew Manno sold 460 shares of Alpha Metallurgical Resources stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $214.64, for a total value of $98,734.40. Following the sale, the executive vice president owned 3,966 shares of the company’s stock, valued at approximately $851,262.24. The trade was a 10.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jason E. Whitehead sold 3,901 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $212.28, for a total transaction of $828,104.28. Following the sale, the chief operating officer directly owned 10,450 shares in the company, valued at $2,218,326. This trade represents a 27.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 18.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. State Street Corp lifted its stake in Alpha Metallurgical Resources by 27.2% in the 2nd quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after purchasing an additional 185,281 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Alpha Metallurgical Resources by 5.6% during the first quarter. Dimensional Fund Advisors LP now owns 721,872 shares of the energy company’s stock worth $148,192,000 after buying an additional 38,300 shares during the last quarter. Continental General Insurance Co. increased its position in Alpha Metallurgical Resources by 6.4% during the fourth quarter. Continental General Insurance Co. now owns 644,025 shares of the energy company’s stock worth $128,728,000 after buying an additional 38,576 shares during the last quarter. Dalal Street LLC increased its position in Alpha Metallurgical Resources by 2.1% during the fourth quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock worth $108,535,000 after buying an additional 11,000 shares during the last quarter. Finally, Gendell Jeffrey L raised its stake in Alpha Metallurgical Resources by 4.0% in the fourth quarter. Gendell Jeffrey L now owns 494,072 shares of the energy company’s stock valued at $98,755,000 after buying an additional 19,033 shares during the period. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Stock Up 3.3%

NYSE:AMR opened at $143.74 on Friday. 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 company has a market cap of $1.83 billion, a PE ratio of -47.91 and a beta of 0.63. Alpha Metallurgical Resources has a 52-week low of $113.00 and a 52-week high of $253.82. The stock has a 50-day simple moving average of $171.71 and a 200 day simple moving average of $188.54.

Alpha Metallurgical Resources (NYSE:AMR) last announced its earnings results on Friday, May 8th. The energy company reported ($0.86) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.86). Alpha Metallurgical Resources had a negative return on equity of 2.47% and a negative net margin of 1.83%.The business had revenue of $447.32 million for the quarter, compared to analyst estimates of $535.15 million. During the same quarter last year, the firm earned ($2.60) EPS. Alpha Metallurgical Resources’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, sell-side analysts expect that Alpha Metallurgical Resources will post 0.2 EPS 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.