Alpha Metallurgical Resources (NYSE:AMR) Trading 6.5% Higher – Here’s Why

Alpha Metallurgical Resources, Inc. (NYSE:AMR) rose 6.5% during trading on Thursday . The company traded as high as $206.47 and last traded at $208.7950. Approximately 76,831 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 284,660 shares. The stock had previously closed at $196.08.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Jefferies Financial Group reissued a “hold” rating and set a $185.00 price target on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday, March 2nd. B. Riley Financial increased their price objective on shares of Alpha Metallurgical Resources from $203.00 to $207.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Monday, December 29th. Finally, Zacks Research lowered shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, February 5th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Alpha Metallurgical Resources currently has a consensus rating of “Reduce” and a consensus price target of $196.00.

Alpha Metallurgical Resources Trading Down 2.5%

The firm has a market cap of $2.48 billion, a PE ratio of -40.90 and a beta of 0.79. The company has a 50-day simple moving average of $199.57 and a 200 day simple moving average of $181.56. The company has a current ratio of 4.47, a quick ratio of 3.53 and a debt-to-equity ratio of 0.01.

Alpha Metallurgical Resources (NYSE:AMR) last posted its earnings results on Friday, February 27th. The energy company reported ($1.34) earnings per share (EPS) for the quarter, meeting 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 analysts’ expectations of $538.45 million. During the same period in the previous year, the business posted ($0.16) EPS. The business’s revenue was down 15.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Alpha Metallurgical Resources

In other news, CFO Joshua Todd Munsey sold 2,523 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $183.24, for a total transaction of $462,314.52. Following the sale, the chief financial officer directly owned 4,735 shares in the company, valued at $867,641.40. This trade represents a 34.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth S. Courtis bought 25,000 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were acquired at an average price of $176.23 per share, for a total transaction of $4,405,750.00. Following the completion of the transaction, the director directly owned 841,537 shares in the company, valued at approximately $148,304,065.51. This trade represents a 3.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 58,000 shares of company stock valued at $10,530,610. Corporate insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Large investors have recently bought and sold shares of the business. Systrade AG acquired a new position in shares of Alpha Metallurgical Resources during the 4th quarter worth approximately $55,966,000. Crocodile Capital Partners GmbH purchased a new position in shares of Alpha Metallurgical Resources during the 4th quarter valued at approximately $40,999,000. State Street Corp grew its stake in Alpha Metallurgical Resources by 27.2% in the 2nd quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after acquiring an additional 185,281 shares during the period. Contrarius Group Holdings Ltd acquired a new stake in Alpha Metallurgical Resources in the 3rd quarter valued at $12,146,000. Finally, Dalal Street LLC increased its holdings in Alpha Metallurgical Resources by 15.6% in the 3rd quarter. Dalal Street LLC now owns 532,000 shares of the energy company’s stock worth $87,296,000 after acquiring an additional 71,673 shares in the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

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.