Alpha Metallurgical Resources (NYSE:AMR) Upgraded at UBS Group

Alpha Metallurgical Resources (NYSE:AMR) was upgraded by equities researchers at UBS Group to a “hold” rating in a report released on Friday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Weiss Ratings reissued a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research note on Wednesday, June 24th. Zacks Research downgraded Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. Finally, Atlantic Securities set a $194.00 target price on Alpha Metallurgical Resources in a research note on Thursday, April 30th. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Alpha Metallurgical Resources currently has an average rating of “Reduce” and an average price target of $187.75.

Alpha Metallurgical Resources Stock Performance

Alpha Metallurgical Resources stock opened at $146.31 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.67 and a quick ratio of 2.81. The firm has a market capitalization of $1.86 billion, a P/E ratio of -48.77 and a beta of 0.63. Alpha Metallurgical Resources has a 1-year low of $113.00 and a 1-year high of $253.82. The company’s 50-day moving average is $182.46 and its 200 day moving average is $195.06.

Alpha Metallurgical Resources (NYSE:AMR) last announced its earnings results on Friday, May 8th. The energy company reported ($0.86) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.86). The business had revenue of $447.32 million during the quarter, compared to analyst estimates of $535.15 million. Alpha Metallurgical Resources had a negative return on equity of 2.47% and a negative net margin of 1.83%.The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.60) earnings per share. Research analysts forecast that Alpha Metallurgical Resources will post 8.21 EPS for the current year.

Insider Buying and Selling at Alpha Metallurgical Resources

In related news, Director Kenneth S. Courtis bought 10,000 shares of Alpha Metallurgical Resources stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of $200.73 per share, with a total value of $2,007,300.00. Following the completion of the transaction, the director owned 985,394 shares in the company, valued at $197,798,137.62. The trade was a 1.03% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jason E. Whitehead sold 3,901 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $212.28, for a total transaction of $828,104.28. Following the sale, the chief operating officer directly owned 10,450 shares of the company’s stock, valued at $2,218,326. This represents a 27.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 18.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AMR. Systrade AG purchased a new position in Alpha Metallurgical Resources during the 4th quarter worth $55,966,000. Crocodile Capital Partners GmbH bought a new stake in Alpha Metallurgical Resources during the 4th quarter valued at $40,999,000. State Street Corp lifted its holdings in shares of Alpha Metallurgical Resources by 27.2% in the 2nd 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. Goehring & Rozencwajg Associates LLC lifted 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 buying an additional 163,144 shares during the period. Finally, Millennium Management LLC grew its position in shares of Alpha Metallurgical Resources by 208.0% during the 1st quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock worth $13,290,000 after buying an additional 71,653 shares in the last quarter. Institutional investors own 84.29% of the company’s stock.

Alpha Metallurgical Resources Company Profile

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.