Insider Buying: Alpha Metallurgical Resources (NYSE:AMR) Director Acquires $2,902,500.00 in Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis purchased 15,000 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were acquired at an average price of $193.50 per share, with a total value of $2,902,500.00. Following the completion of the transaction, the director owned 1,000,394 shares of the company’s stock, valued at approximately $193,576,239. This trade represents a 1.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Alpha Metallurgical Resources Stock Up 8.5%

AMR opened at $210.91 on Friday. The company has a market cap of $2.67 billion, a P/E ratio of -58.91 and a beta of 0.65. The business’s 50-day moving average price is $159.56 and its 200-day moving average price is $181.01. The company has a current ratio of 3.41, a quick ratio of 2.37 and a debt-to-equity ratio of 0.01. Alpha Metallurgical Resources, Inc. has a 12 month low of $133.64 and a 12 month high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last released its earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. The company had revenue of $421.29 million during 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 revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.38) EPS. On average, equities analysts expect that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMR. B. Riley Financial dropped their price objective on Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday. UBS Group began coverage on shares of Alpha Metallurgical Resources in a research note on Friday, July 10th. They issued a “neutral” rating and a $165.00 target price on the stock. Atlantic Securities set a $194.00 price target on shares of Alpha Metallurgical Resources in a report on Thursday, April 30th. Weiss Ratings cut shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $160.00 price target on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $176.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dalal Street LLC increased its stake in shares of Alpha Metallurgical Resources by 2.1% during the fourth quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock valued at $108,535,000 after buying an additional 11,000 shares during the period. Kettle Hill Capital Management LLC bought a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at approximately $4,823,000. Goehring & Rozencwajg Associates LLC lifted its stake in Alpha Metallurgical Resources by 206.8% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company’s stock worth $49,683,000 after acquiring an additional 163,144 shares during the period. Old West Investment Management LLC purchased a new stake in Alpha Metallurgical Resources in the second quarter worth $9,932,000. Finally, Marnell Management LLC purchased a new stake in Alpha Metallurgical Resources in the fourth quarter worth $1,116,000. Institutional investors 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.