Alpha Metallurgical Resources (NYSE:AMR) Trading Up 7.6% – Here’s What Happened

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Zacks Research lowered Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, August 27th. Wall Street Zen cut shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. B. Riley Financial reduced their price objective on shares of Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, August 20th. UBS Group assumed coverage on shares of Alpha Metallurgical Resources in a report on Friday, July 10th. They issued a “neutral” rating and a $165.00 target price on the stock. Finally, Weiss Ratings cut shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $176.00.

Alpha Metallurgical Resources Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.41 and a quick ratio of 2.37. The stock has a market cap of $2.30 billion, a P/E ratio of -50.65 and a beta of 0.68. The stock has a 50-day simple moving average of $180.00 and a 200-day simple moving average of $185.01.

Alpha Metallurgical Resources (NYSE:AMR) last posted its earnings results on Friday, August 7th. The energy company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. The firm 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 quarter in the prior year, the business earned ($0.38) earnings per share. Research analysts forecast that Alpha Metallurgical Resources, Inc. will post -2.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kenneth Courtis bought 10,000 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were purchased at an average cost of $225.83 per share, with a total value of $2,258,300.00. Following the acquisition, the director owned 1,035,394 shares of the company’s stock, valued at $233,823,027.02. This represents a 0.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired 35,000 shares of company stock valued at $7,388,400 in the last three months. Corporate insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of hedge funds have recently made changes to their positions in AMR. BlackRock Inc. bought a new position in Alpha Metallurgical Resources during the 2nd quarter worth approximately $299,230,000. Dimensional Fund Advisors LP raised 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 buying an additional 38,300 shares during the last quarter. Dalal Street LLC lifted its holdings 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 valued at $108,535,000 after buying an additional 11,000 shares during the period. Crocodile Capital Partners GmbH boosted its position in Alpha Metallurgical Resources by 0.4% during the second quarter. Crocodile Capital Partners GmbH now owns 245,119 shares of the energy company’s stock valued at $40,430,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC grew its holdings in Alpha Metallurgical Resources by 206.8% during the 1st 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. 84.29% of the stock is currently owned by institutional investors.

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.