Alpha Metallurgical Resources (NYSE:AMR) Downgraded to “Strong Sell” Rating by Zacks Research

Alpha Metallurgical Resources (NYSE:AMR) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Atlantic Securities set a $194.00 price objective on shares of Alpha Metallurgical Resources in a research report on Thursday, April 30th. Weiss Ratings reissued a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Friday, March 27th. Texas Capital lowered shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $185.00 price objective on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Four investment 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 currently has a consensus rating of “Reduce” and a consensus target price of $195.33.

Alpha Metallurgical Resources Stock Performance

Shares of AMR stock opened at $197.06 on Tuesday. Alpha Metallurgical Resources has a one year low of $97.41 and a one year high of $253.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.53 and a current ratio of 4.47. The company has a 50 day moving average price of $192.82 and a 200 day moving average price of $191.21. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of -41.57 and a beta of 0.60.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Friday, February 27th. The energy company reported ($1.34) EPS for the quarter, hitting the consensus estimate of ($1.34). Alpha Metallurgical Resources had a negative net margin of 2.90% and a negative return on equity of 3.88%. The firm had revenue of $436.33 million during the quarter, compared to analyst estimates of $538.45 million. During the same quarter in the prior year, the business posted ($0.16) earnings per share. Alpha Metallurgical Resources’s revenue for the quarter was down 15.7% compared to the same quarter last year. Sell-side analysts anticipate that Alpha Metallurgical Resources will post 11.98 EPS for the current year.

Insider Transactions at Alpha Metallurgical Resources

In other news, Director Kenneth S. Courtis bought 8,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was acquired at an average cost of $191.07 per share, for a total transaction of $1,528,560.00. Following the completion of the purchase, the director owned 874,537 shares of the company’s stock, valued at $167,097,784.59. This trade represents a 0.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joshua Todd Munsey sold 2,523 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $183.24, for a total transaction of $462,314.52. Following the completion of the transaction, the chief financial officer owned 4,735 shares of the company’s stock, valued at $867,641.40. This trade represents a 34.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders acquired 58,000 shares of company stock valued at $10,530,610 over the last 90 days. Corporate insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AMR. Los Angeles Capital Management LLC purchased a new position in shares of Alpha Metallurgical Resources in the fourth quarter valued at $29,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Alpha Metallurgical Resources by 215.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company’s stock valued at $33,000 after purchasing an additional 112 shares during the period. Leonteq Securities AG bought a new position in Alpha Metallurgical Resources during the 1st quarter valued at $37,000. Hantz Financial Services Inc. boosted its stake in Alpha Metallurgical Resources by 361.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 240 shares of the energy company’s stock valued at $39,000 after acquiring an additional 188 shares during the last quarter. Finally, CWM LLC boosted its stake in Alpha Metallurgical Resources by 146.0% during the 3rd quarter. CWM LLC now owns 246 shares of the energy company’s stock valued at $40,000 after acquiring an additional 146 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.