Alpha Metallurgical Resources (NYSE:AMR) Trading 7.6% Higher – What’s Next?

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s share price shot up 7.6% on Tuesday . The company traded as high as $187.58 and last traded at $188.7430. Approximately 130,489 shares changed hands during trading, a decline of 55% from the average daily volume of 290,194 shares. The stock had previously closed at $175.49.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AMR shares. Wall Street Zen lowered Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Zacks Research cut shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, August 27th. Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price target on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. B. Riley Financial dropped their target price on Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, August 20th. Finally, Weiss Ratings cut Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $176.00.

Alpha Metallurgical Resources Stock Up 7.5%

The stock has a 50 day moving average price of $178.74 and a 200-day moving average price of $184.88. The stock has a market capitalization of $2.39 billion, a P/E ratio of -52.76 and a beta of 0.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.41 and a quick ratio of 2.37.

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, topping the consensus estimate 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 net margin of 2.23% and a negative return on equity of 2.99%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.38) earnings per share. As a group, research analysts expect that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kenneth Courtis acquired 10,000 shares of the stock in a transaction dated Tuesday, September 8th. The stock was acquired at an average cost of $225.83 per share, for a total transaction of $2,258,300.00. Following the completion of the purchase, the director owned 1,035,394 shares of the company’s stock, valued at approximately $233,823,027.02. This represents a 0.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 35,000 shares of company stock worth $7,388,400 over the last 90 days. 18.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC grew its holdings in shares of Alpha Metallurgical Resources by 3.3% during the 4th quarter. ProShare Advisors LLC now owns 2,266 shares of the energy company’s stock worth $453,000 after purchasing an additional 73 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Alpha Metallurgical Resources by 2.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,907 shares of the energy company’s stock valued at $781,000 after buying an additional 78 shares during the last quarter. Quantinno Capital Management LP increased its holdings 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 during the last quarter. Nykredit A S bought a new position in Alpha Metallurgical Resources in the second quarter valued at approximately $25,000. Finally, Hantz Financial Services Inc. increased its stake in shares of Alpha Metallurgical Resources by 67.9% in the fourth quarter. Hantz Financial Services Inc. now owns 403 shares of the energy company’s stock valued at $81,000 after buying an additional 163 shares during the period. 84.29% of the stock is owned by institutional investors and hedge funds.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc is a mining company that produces and markets metallurgical coal, a key raw material used in steelmaking. Its products include premium and high-volatility metallurgical coal, as well as thermal coal, which is used primarily for electricity generation.

The company operates underground and surface mines and related processing facilities in Central Appalachia, principally in Virginia and West Virginia. Alpha sells its coal to domestic and international steel producers, coke manufacturers, and other industrial customers, serving markets in North America, Asia, Europe, and elsewhere.

Alpha Metallurgical Resources was formed from the restructuring of the former Alpha Natural Resources business and operated as Contura Energy before adopting its current name in 2021.