Alpha Metallurgical Resources (NYSE:AMR) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Alpha Metallurgical Resources (NYSE:AMR) from a strong sell rating to a hold rating in a report published on Wednesday morning,Zacks.com reports.

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

Alpha Metallurgical Resources Trading Up 3.3%

NYSE AMR opened at $143.74 on Wednesday. Alpha Metallurgical Resources has a 52 week low of $113.00 and a 52 week high of $253.82. The company has a 50 day moving average price of $171.71 and a 200 day moving average price of $188.54. The company has a quick ratio of 2.81, a current ratio of 3.67 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.83 billion, a PE ratio of -47.91 and a beta of 0.63.

Alpha Metallurgical Resources (NYSE:AMR) last announced its 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 company had revenue of $447.32 million during the quarter, compared to the consensus estimate of $535.15 million. Alpha Metallurgical Resources had a negative net margin of 1.83% and a negative return on equity of 2.47%. Alpha Metallurgical Resources’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm earned ($2.60) earnings per share. As a group, sell-side analysts forecast that Alpha Metallurgical Resources will post 0.2 EPS for the current fiscal year.

Insider Activity 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 value of $98,734.40. Following the transaction, the executive vice president owned 3,966 shares in the company, valued at approximately $851,262.24. This represents a 10.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth S. Courtis acquired 10,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were acquired at an average price of $200.73 per share, with a total value of $2,007,300.00. Following the completion of the purchase, the director owned 985,394 shares in the company, valued at approximately $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. 18.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of 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 buying an additional 185,281 shares during the period. Goehring & Rozencwajg Associates LLC grew its holdings in Alpha Metallurgical Resources by 206.8% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company’s stock worth $49,683,000 after acquiring an additional 163,144 shares during the period. Millennium Management LLC raised its position in Alpha Metallurgical Resources by 208.0% during the first quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock valued at $13,290,000 after acquiring an additional 71,653 shares in the last quarter. Two Sigma Investments LP purchased a new position in Alpha Metallurgical Resources during the third quarter valued at approximately $8,132,000. Finally, Marshall Wace LLP acquired a new position in Alpha Metallurgical Resources in the second quarter valued at approximately $5,284,000. 84.29% of the stock is owned by institutional investors and hedge funds.

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.