Alpha Metallurgical Resources (NYSE:AMR) Stock Rating Upgraded by 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 note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on AMR. Benchmark reiterated a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Friday, March 27th. B. Riley Financial upped their price target on Alpha Metallurgical Resources from $203.00 to $207.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Jefferies Financial Group reiterated a “hold” rating and set a $185.00 price target on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Finally, Texas Capital cut Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $196.00.

Alpha Metallurgical Resources Price Performance

NYSE AMR opened at $202.92 on Monday. The firm’s 50-day simple moving average is $193.27 and its two-hundred day simple moving average is $187.30. Alpha Metallurgical Resources has a 52 week low of $97.41 and a 52 week high of $253.82. The company has a market cap of $2.59 billion, a PE ratio of -42.81 and a beta of 0.73. The company has a quick ratio of 3.53, a current ratio of 4.47 and a debt-to-equity ratio of 0.01.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Friday, February 27th. The energy company reported ($1.34) earnings per share for the quarter, meeting the consensus estimate of ($1.34). Alpha Metallurgical Resources had a negative return on equity of 3.88% and a negative net margin of 2.90%.The firm had revenue of $436.33 million for the quarter, compared to analysts’ expectations of $538.45 million. During the same period in the prior year, the business posted ($0.16) earnings per share. The company’s revenue was down 15.7% on a year-over-year basis. Research analysts predict that Alpha Metallurgical Resources will post 14.31 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Joshua Todd Munsey sold 2,523 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $183.24, for a total value of $462,314.52. Following the transaction, the chief financial officer directly owned 4,735 shares in the company, valued at approximately $867,641.40. This represents a 34.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel E. Horn sold 971 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $170.05, for a total transaction of $165,118.55. Following the completion of the transaction, the insider owned 7,320 shares in the company, valued at approximately $1,244,766. This trade represents a 11.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have purchased 58,000 shares of company stock worth $10,530,610. Insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. First Citizens Bank & Trust Co. increased its position in shares of Alpha Metallurgical Resources by 1.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 4,058 shares of the energy company’s stock worth $811,000 after purchasing an additional 72 shares during the last quarter. ProShare Advisors LLC grew its position in Alpha Metallurgical Resources by 3.3% during the fourth quarter. ProShare Advisors LLC now owns 2,266 shares of the energy company’s stock valued at $453,000 after acquiring an additional 73 shares during the last quarter. Mainstay Capital Management LLC ADV grew its position in Alpha Metallurgical Resources by 5.9% during the fourth quarter. Mainstay Capital Management LLC ADV now owns 1,326 shares of the energy company’s stock valued at $265,000 after acquiring an additional 74 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Alpha Metallurgical Resources by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 6,256 shares of the energy company’s stock valued at $704,000 after acquiring an additional 76 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in Alpha Metallurgical Resources by 2.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,907 shares of the energy company’s stock valued at $781,000 after acquiring an additional 78 shares during the last quarter. 84.29% of the stock is currently owned by 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.