Alpha Metallurgical Resources, Inc. (NYSE:AMR) Stock Rated “Reduce” by Wall Street Analysts

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) have been given an average recommendation of “Reduce” by the seven analysts that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $179.75.

AMR has been the subject of several recent research reports. Weiss Ratings lowered shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. 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. 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. UBS Group boosted their price objective on shares of Alpha Metallurgical Resources from $160.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, October 8th. Finally, B. Riley Financial lowered their price objective on shares of Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, August 20th.

Alpha Metallurgical Resources Price Performance

Shares of AMR opened at $166.33 on Wednesday. Alpha Metallurgical Resources has a 52 week low of $133.64 and a 52 week high of $253.82. The company has a current ratio of 3.41, a quick ratio of 2.37 and a debt-to-equity ratio of 0.01. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -46.46 and a beta of 0.85. The stock has a 50 day moving average of $190.16 and a 200-day moving average of $182.25.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate 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 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 business’s revenue was down 10.4% compared to the same quarter last year. As a group, analysts forecast that Alpha Metallurgical Resources will post -2.40 EPS for the current year.

Insider Activity at Alpha Metallurgical Resources

In related news, Director Kenneth Courtis bought 15,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was bought at an average cost of $193.50 per share, with a total value of $2,902,500.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 35,000 shares of company stock worth $7,388,400 over the last three months. 18.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMR. BlackRock Inc. bought a new position in shares of Alpha Metallurgical Resources during the second quarter worth about $299,230,000. Goehring & Rozencwajg Associates LLC increased its holdings in shares of Alpha Metallurgical Resources by 206.8% in 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. Bank of New York Mellon Corp acquired a new stake in shares of Alpha Metallurgical Resources in the 2nd quarter worth about $10,969,000. Old West Investment Management LLC bought a new stake in Alpha Metallurgical Resources in the 2nd quarter valued at about $9,932,000. Finally, PDT Partners LLC bought a new stake in Alpha Metallurgical Resources in the 2nd quarter valued at about $9,368,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc is a U.S.-based producer of metallurgical coal, a key raw material used in the steelmaking process. The company operates underground and surface mines, primarily in Central Appalachia, and produces high-quality metallurgical coal for domestic and international steel producers.

The company’s operations are concentrated in West Virginia and Virginia. In addition to mining, Alpha Metallurgical Resources manages coal processing, preparation, transportation, and marketing activities that support the delivery of its products to customers.