Alpha Metallurgical Resources (NYSE:AMR) Trading Down 6.5% – Time to Sell?

Alpha Metallurgical Resources, Inc. (NYSE:AMR) fell 6.5% on Thursday . The company traded as low as $168.51 and last traded at $168.73. 97,357 shares changed hands during trading, a decline of 66% from the average daily volume of 289,468 shares. The stock had previously closed at $180.40.

Analyst Ratings Changes

AMR has been the subject of several analyst reports. Wall Street Zen cut Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. UBS Group assumed coverage on Alpha Metallurgical Resources in a research report on Friday, July 10th. They set a “neutral” rating and a $165.00 price target for the company. B. Riley Financial decreased their price target 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. Zacks Research downgraded Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, August 27th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $160.00 price objective on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $176.00.

Alpha Metallurgical Resources Stock Performance

The business’s 50-day simple moving average is $180.00 and its two-hundred day simple moving average is $185.01. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of -46.78 and a beta of 0.68. The company has a quick ratio of 2.37, a current ratio of 3.41 and a debt-to-equity ratio of 0.01.

Alpha Metallurgical Resources (NYSE:AMR) last posted 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. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The business had revenue of $421.29 million for the quarter, compared to analyst estimates of $521.61 million. During the same period in the prior year, the company posted ($0.38) EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, sell-side analysts expect that Alpha Metallurgical Resources, Inc. will post -2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alpha Metallurgical Resources news, Director Kenneth Courtis purchased 15,000 shares of the stock in a transaction on Thursday, August 20th. The shares were bought at an average price of $193.50 per share, for a total transaction of $2,902,500.00. Following the completion of the transaction, the director owned 1,015,394 shares of the company’s stock, valued at $196,478,739. This trade represents a 1.50% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders bought 35,000 shares of company stock valued at $7,388,400. Corporate insiders own 18.20% of the company’s stock.

Institutional Trading of Alpha Metallurgical Resources

Several institutional investors have recently bought and sold shares of AMR. ProShare Advisors LLC boosted its stake in shares of Alpha Metallurgical Resources by 3.3% in the fourth quarter. ProShare Advisors LLC now owns 2,266 shares of the energy company’s stock valued at $453,000 after buying an additional 73 shares in the last quarter. Quantinno Capital Management LP raised its position in 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 worth $263,000 after acquiring an additional 143 shares in the last quarter. Nykredit A S acquired a new stake in Alpha Metallurgical Resources in the second quarter valued at $25,000. Hantz Financial Services Inc. lifted its holdings in 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 acquiring an additional 163 shares during the period. Finally, Tidal Investments LLC boosted its position in shares of Alpha Metallurgical Resources by 10.2% during the 2nd quarter. Tidal Investments LLC now owns 1,884 shares of the energy company’s stock worth $311,000 after purchasing an additional 174 shares in the last quarter. 84.29% of the stock is owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Company Profile

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.