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

Alpha Metallurgical Resources, Inc. (NYSE:AMR) has earned an average recommendation of “Reduce” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $195.3333.

Several research analysts have weighed in on AMR shares. Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Wednesday, June 24th. Atlantic Securities set a $194.00 price target on Alpha Metallurgical Resources in a research note on Thursday, April 30th. Finally, Zacks Research cut Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th.

Alpha Metallurgical Resources Stock Performance

NYSE:AMR opened at $159.73 on Monday. 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 has a fifty-two week low of $109.21 and a fifty-two week high of $253.82. The stock has a market cap of $2.03 billion, a PE ratio of -53.24 and a beta of 0.63. The firm’s fifty day simple moving average is $186.63 and its 200-day simple moving average is $196.73.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings data on Friday, May 8th. The energy company reported ($0.86) EPS for the quarter, meeting the consensus estimate of ($0.86). The firm had revenue of $447.32 million during the quarter, compared to analysts’ expectations of $535.15 million. Alpha Metallurgical Resources had a negative net margin of 1.83% and a negative return on equity of 2.47%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the business earned ($2.60) earnings per share. Analysts expect that Alpha Metallurgical Resources will post 8.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Alpha Metallurgical Resources

In other news, COO Jason E. Whitehead sold 3,901 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $212.28, for a total value of $828,104.28. Following the completion of the transaction, the chief operating officer 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kenneth S. Courtis purchased 10,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were purchased at an average cost of $200.73 per share, with a total value of $2,007,300.00. Following the purchase, the director directly owned 985,394 shares in the company, valued at approximately $197,798,137.62. The trade was a 1.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 18.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMR. Royal Bank of Canada grew its position in shares of Alpha Metallurgical Resources by 55.0% in the first quarter. Royal Bank of Canada now owns 2,029 shares of the energy company’s stock valued at $254,000 after purchasing an additional 720 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Alpha Metallurgical Resources by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,548 shares of the energy company’s stock worth $820,000 after purchasing an additional 295 shares during the last quarter. Millennium Management LLC raised its position in shares of Alpha Metallurgical Resources by 208.0% during the 1st quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock worth $13,290,000 after purchasing an additional 71,653 shares during the last quarter. Intech Investment Management LLC lifted its stake in Alpha Metallurgical Resources by 48.3% in the 1st quarter. Intech Investment Management LLC now owns 13,149 shares of the energy company’s stock valued at $1,647,000 after buying an additional 4,281 shares in the last quarter. Finally, Creative Planning grew its holdings in Alpha Metallurgical Resources by 14.5% during the 2nd quarter. Creative Planning now owns 3,465 shares of the energy company’s stock valued at $390,000 after buying an additional 438 shares during the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

Alpha Metallurgical Resources Company Profile

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.