Alpha Metallurgical Resources (NYSE:AMR) Director Purchases 8,000 Shares

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis bought 8,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was purchased at an average price of $191.07 per share, for a total transaction of $1,528,560.00. Following the transaction, the director owned 874,537 shares of the company’s stock, valued at approximately $167,097,784.59. This represents a 0.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alpha Metallurgical Resources Price Performance

Shares of AMR traded down $5.06 during trading hours on Friday, hitting $193.86. 391,082 shares of the stock were exchanged, compared to its average volume of 321,634. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.53 and a current ratio of 4.47. Alpha Metallurgical Resources, Inc. has a 12-month low of $97.41 and a 12-month high of $253.82. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -40.90 and a beta of 0.79. The stock’s 50-day moving average price is $199.57 and its two-hundred day moving average price is $181.56.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings data on Friday, February 27th. The energy company reported ($1.34) EPS for the quarter, meeting the consensus estimate of ($1.34). The firm had revenue of $436.33 million during the quarter, compared to the consensus estimate of $538.45 million. Alpha Metallurgical Resources had a negative return on equity of 3.88% and a negative net margin of 2.90%.The firm’s revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.16) EPS. Research analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMR. Zacks Research downgraded shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 5th. B. Riley Financial upped their price objective on shares of Alpha Metallurgical Resources from $203.00 to $207.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Jefferies Financial Group reiterated a “hold” rating and issued a $185.00 price objective on shares of Alpha Metallurgical Resources in a report on Monday, March 2nd. Texas Capital lowered shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Monday, December 29th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Alpha Metallurgical Resources presently has a consensus rating of “Reduce” and a consensus target price of $196.00.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Hedge funds have recently modified their holdings of the business. Systrade AG acquired a new stake in shares of Alpha Metallurgical Resources during the 4th quarter worth about $55,966,000. Crocodile Capital Partners GmbH acquired a new position in Alpha Metallurgical Resources in the fourth quarter valued at about $40,999,000. State Street Corp boosted its stake in Alpha Metallurgical Resources by 27.2% during the second quarter. State Street Corp now owns 865,934 shares of the energy company’s stock worth $97,400,000 after buying an additional 185,281 shares during the period. Contrarius Group Holdings Ltd purchased a new position in Alpha Metallurgical Resources during the third quarter worth about $12,146,000. Finally, Dalal Street LLC increased its position in shares of Alpha Metallurgical Resources by 15.6% during the third quarter. Dalal Street LLC now owns 532,000 shares of the energy company’s stock valued at $87,296,000 after acquiring an additional 71,673 shares during the last quarter. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

About Alpha Metallurgical Resources

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.