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

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

Several other brokerages also recently issued reports on AMR. Atlantic Securities set a $194.00 target price on shares of Alpha Metallurgical Resources in a research note on Thursday, April 30th. Jefferies Financial Group reissued a “hold” rating and set a $160.00 price target on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. B. Riley Financial lowered their price objective on Alpha Metallurgical Resources from $194.00 to $189.00 and set a “neutral” rating on the stock in a research report on Tuesday. Weiss Ratings reiterated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research note on Wednesday, June 24th. Finally, UBS Group assumed coverage on Alpha Metallurgical Resources in a report on Friday, July 10th. They issued a “neutral” rating and a $165.00 target price for the company. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Alpha Metallurgical Resources currently has an average rating of “Reduce” and an average price target of $177.00.

Alpha Metallurgical Resources Stock Performance

Shares of AMR stock opened at $143.74 on Wednesday. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of -47.91 and a beta of 0.63. The stock has a fifty day moving average of $171.71 and a 200 day moving average of $188.54. Alpha Metallurgical Resources has a 52 week low of $113.00 and a 52 week high of $253.82. The company has a quick ratio of 2.81, a current ratio of 3.67 and a debt-to-equity ratio of 0.01.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Friday, May 8th. The energy company reported ($0.86) earnings per share for the quarter, meeting the consensus estimate of ($0.86). The firm had revenue of $447.32 million during the quarter, compared to the consensus estimate 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 company’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the company earned ($2.60) earnings per share. As a group, research analysts expect that Alpha Metallurgical Resources will post 0.2 earnings per share for the current year.

Insider Transactions at Alpha Metallurgical Resources

In related news, EVP Mark Matthew Manno sold 460 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $214.64, for a total transaction of $98,734.40. Following the transaction, the executive vice president owned 3,966 shares in the company, valued at $851,262.24. This represents a 10.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth S. Courtis bought 10,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were purchased at an average price of $200.73 per share, for a total transaction of $2,007,300.00. Following the purchase, the director owned 985,394 shares in the company, valued at $197,798,137.62. This trade represents a 1.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 18.20% of the company’s stock.

Institutional Trading of Alpha Metallurgical Resources

Several hedge funds have recently modified their holdings of AMR. State Street Corp raised its stake in Alpha Metallurgical Resources by 27.2% during the second 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 in the last quarter. Dimensional Fund Advisors LP increased its stake 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 acquiring an additional 38,300 shares during the last quarter. Continental General Insurance Co. lifted its stake in shares of Alpha Metallurgical Resources by 6.4% in the 4th quarter. Continental General Insurance Co. now owns 644,025 shares of the energy company’s stock valued at $128,728,000 after purchasing an additional 38,576 shares during the last quarter. Dalal Street LLC lifted its position in Alpha Metallurgical Resources by 2.1% in 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 boosted its stake in Alpha Metallurgical Resources by 4.0% during the fourth quarter. Gendell Jeffrey L now owns 494,072 shares of the energy company’s stock worth $98,755,000 after buying an additional 19,033 shares during the period. 84.29% of the stock is owned by hedge funds and other institutional investors.

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.