Key Points
- Director Kenneth Courtis purchased 15,000 AMR shares at an average price of $193.50, investing approximately $2.9 million and increasing his ownership by 1.52% to more than 1 million shares.
- Alpha Metallurgical Resources reported a quarterly loss of $0.96 per share, narrowly beating estimates, while revenue of $421.3 million fell short of forecasts and declined 10.4% year over year.
- Analyst sentiment remains cautious: six analysts rate the stock Hold and one rates it Sell, producing a consensus “Reduce” rating and an average price target of $176 versus the stock’s $193.85 opening price.
Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) Director Kenneth Courtis bought 15,000 shares of the firm's stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost 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 in the company, valued at $193,576,239. This represents a 1.52% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Alpha Metallurgical Resources Price Performance
Shares of AMR stock opened at $193.85 on Friday. Alpha Metallurgical Resources, Inc. has a twelve month low of $133.64 and a twelve month high of $253.82. The company has a current ratio of 3.41, a quick ratio of 2.37 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $159.37 and a two-hundred day simple moving average of $180.80. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -54.15 and a beta of 0.65.
Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) EPS 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%.The business's revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.38) earnings per share. On average, analysts predict that Alpha Metallurgical Resources, Inc. will post 0.2 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on AMR. Atlantic Securities set a $194.00 target price on Alpha Metallurgical Resources in a report on Thursday, April 30th. UBS Group initiated coverage on Alpha Metallurgical Resources in a research report on Friday, July 10th. They issued a "neutral" rating and a $165.00 price target for the company. Zacks Research upgraded Alpha Metallurgical Resources from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 29th. Wall Street Zen downgraded Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Finally, Jefferies Financial Group restated a "hold" rating and issued a $160.00 price target on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Alpha Metallurgical Resources currently has an average rating of "Reduce" and a consensus target price of $176.00.
Get Our Latest Stock Analysis on Alpha Metallurgical Resources
Institutional Investors Weigh In On Alpha Metallurgical Resources
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in shares of Alpha Metallurgical Resources by 55.0% during the first quarter. Royal Bank of Canada now owns 2,029 shares of the energy company's stock valued at $254,000 after acquiring an additional 720 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Alpha Metallurgical Resources by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,548 shares of the energy company's stock worth $820,000 after purchasing an additional 295 shares during the last quarter. Millennium Management LLC increased its stake in Alpha Metallurgical Resources by 208.0% during the 1st quarter. Millennium Management LLC now owns 106,107 shares of the energy company's stock valued at $13,290,000 after purchasing an additional 71,653 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Alpha Metallurgical Resources by 48.3% in the first quarter. Intech Investment Management LLC now owns 13,149 shares of the energy company's stock worth $1,647,000 after buying an additional 4,281 shares during the last quarter. Finally, Creative Planning lifted its stake in shares of Alpha Metallurgical Resources by 14.5% during the second quarter. Creative Planning now owns 3,465 shares of the energy company's stock worth $390,000 after buying an additional 438 shares during the period. 84.29% of the stock is currently owned by hedge funds and other institutional investors.
About Alpha Metallurgical Resources
(
Get Free Report)
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.
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