Alpha Metallurgical Resources, Inc. (NYSE:AMR) Receives Average Rating of “Reduce” from Analysts

Alpha Metallurgical Resources, Inc. (NYSE:AMR) has earned a consensus rating of “Reduce” from the seven brokerages that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $176.00.

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price target on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 21st. Weiss Ratings downgraded shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. B. Riley Financial dropped their target price on shares of 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 shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 27th. Finally, UBS Group began coverage on shares of 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.

Alpha Metallurgical Resources Stock Up 4.2%

AMR opened at $235.84 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.41 and a quick ratio of 2.37. Alpha Metallurgical Resources has a 12 month low of $133.64 and a 12 month high of $253.82. The stock has a market capitalization of $2.99 billion, a P/E ratio of -65.88 and a beta of 0.65. The business has a 50 day simple moving average of $163.86 and a 200-day simple moving average of $181.67.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%.The firm had revenue of $421.29 million for the quarter, compared to analyst estimates of $521.61 million. During the same quarter in the prior year, the company posted ($0.38) earnings per share. Alpha Metallurgical Resources’s quarterly revenue was down 10.4% on a year-over-year basis. On average, equities analysts anticipate that Alpha Metallurgical Resources will post -2.4 earnings per share for the current fiscal year.

Insider Activity at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, COO Jason E. Whitehead sold 3,901 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $212.28, for a total transaction of $828,104.28. Following the sale, the chief operating officer directly owned 10,450 shares in the company, valued at approximately $2,218,326. The trade was a 27.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth S. Courtis purchased 15,000 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was purchased at an average price of $193.50 per share, with a total value of $2,902,500.00. Following the transaction, the director owned 1,015,394 shares of the company’s stock, valued at approximately $196,478,739. This represents a 1.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 35,000 shares of company stock valued at $7,137,400 over the last ninety days. 18.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alpha Metallurgical Resources

A number of large investors have recently added to or reduced their stakes in AMR. Los Angeles Capital Management LLC acquired a new position in Alpha Metallurgical Resources during the fourth quarter worth about $29,000. Nykredit A S acquired a new stake in shares of Alpha Metallurgical Resources in the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Alpha Metallurgical Resources by 215.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company’s stock worth $33,000 after purchasing an additional 112 shares in the last quarter. Leonteq Securities AG purchased a new position in Alpha Metallurgical Resources during the first quarter worth $37,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Alpha Metallurgical Resources in the 4th quarter valued at about $45,000. 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.