Alpha Metallurgical Resources (NYSE:AMR) Stock Rating Raised to “Hold” at Zacks Research

Alpha Metallurgical Resources (NYSE:AMR) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday, Zacks reports.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings cut Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Jefferies Financial Group reissued a “hold” rating and issued a $160.00 price target on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. B. Riley Financial decreased their price target 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. Wall Street Zen cut shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, 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. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $179.75.

Alpha Metallurgical Resources Stock Performance

Shares of Alpha Metallurgical Resources stock opened at $158.23 on Monday. The stock has a market cap of $2.01 billion, a PE ratio of -44.20 and a beta of 0.85. The business has a fifty day simple moving average of $190.37 and a 200-day simple moving average of $181.64. 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 has a 12 month low of $133.64 and a 12 month high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.01. The firm had revenue of $421.29 million for the quarter, compared to analyst estimates of $521.61 million. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%. Alpha Metallurgical Resources’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.38) earnings per share. On average, sell-side analysts anticipate that Alpha Metallurgical Resources will post -2.40 EPS for the current fiscal year.

Insider Buying and Selling at Alpha Metallurgical Resources

In other news, Director Kenneth Courtis acquired 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average cost of $193.50 per share, for a total transaction of $2,902,500.00. Following the completion of the acquisition, the director owned 1,015,394 shares in the company, valued at approximately $196,478,739. The trade was a 1.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 35,000 shares of company stock valued at $7,388,400 over the last 90 days. Corporate insiders own 18.20% of the company’s stock.

Institutional Trading of Alpha Metallurgical Resources

Institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC acquired a new stake in Alpha Metallurgical Resources in the second quarter valued at approximately $3,728,000. Bank of America Corp DE bought a new stake in Alpha Metallurgical Resources in the second quarter worth approximately $8,763,000. Cibc World Market Inc. bought a new stake in Alpha Metallurgical Resources in the second quarter worth approximately $1,741,000. NWF Advisory Services Inc. grew its position in Alpha Metallurgical Resources by 46.5% in the second quarter. NWF Advisory Services Inc. now owns 57,925 shares of the energy company’s stock worth $9,554,000 after acquiring an additional 18,390 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Alpha Metallurgical Resources during the 2nd quarter worth $8,983,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc is a mining company focused primarily on the production and sale of metallurgical coal. Its coal is used by steelmakers and coke producers in the manufacturing of steel, with additional sales of thermal coal for power generation. The company serves domestic and international customers through a network of mines and related operations.

Alpha operates principally in the Central Appalachian region, with mining assets in West Virginia and Virginia. Its activities include underground and surface mining, coal preparation, processing, and transportation.