Key Points
- Director Kenneth Courtis bought 5,000 Alpha Metallurgical Resources shares at an average price of $216.53, investing approximately $1.08 million and increasing his ownership by 0.49%.
- Alpha Metallurgical Resources shares rose 3.0% to open at $216.14, despite the company reporting a quarterly loss of $0.96 per share and revenue that fell 10.4% year over year.
- Analysts remain cautious, with six Hold ratings and one Sell rating producing an average “Reduce” recommendation and a consensus price target of $176, below the stock’s recent trading level.
Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) Director Kenneth Courtis acquired 5,000 shares of the company's stock in a transaction dated Tuesday, August 25th. The stock was acquired at an average cost of $216.53 per share, with a total value of $1,082,650.00. Following the purchase, the director owned 1,020,394 shares of the company's stock, valued at approximately $220,945,912.82. This trade represents a 0.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.
Alpha Metallurgical Resources Trading Up 3.0%
Shares of Alpha Metallurgical Resources stock opened at $216.14 on Wednesday. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -60.38 and a beta of 0.65. Alpha Metallurgical Resources, Inc. has a twelve month low of $133.64 and a twelve month high of $253.82. The business has a 50-day moving average price of $160.52 and a 200-day moving average price of $180.90. 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 (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 analysts' consensus estimates of ($0.97) by $0.01. The firm had revenue of $421.29 million during the quarter, compared to the consensus estimate of $521.61 million. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The firm's revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.38) EPS. Equities research analysts anticipate that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Jefferies Financial Group reiterated a "hold" rating and set a $160.00 price objective on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Zacks Research raised shares of Alpha Metallurgical Resources from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 29th. Atlantic Securities set a $194.00 price objective on shares of Alpha Metallurgical Resources in a research report on Thursday, April 30th. UBS Group started coverage on Alpha Metallurgical Resources in a research report on Friday, July 10th. They set a "neutral" rating and a $165.00 target price for the company. Finally, B. Riley Financial cut their price objective on Alpha Metallurgical Resources from $189.00 to $185.00 and set a "neutral" rating on the stock in a research report on Thursday, August 20th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $176.00.
Read Our Latest Analysis on AMR
Institutional Trading of Alpha Metallurgical Resources
A number of large investors have recently modified their holdings of AMR. California State Teachers Retirement System increased its holdings in Alpha Metallurgical Resources by 15,924.2% during the 2nd quarter. California State Teachers Retirement System now owns 2,121,128 shares of the energy company's stock worth $349,859,000 after purchasing an additional 2,107,891 shares during the period. BlackRock Inc. purchased a new stake in shares of Alpha Metallurgical Resources in the 2nd quarter worth $299,230,000. State Street Corp grew its position in shares of Alpha Metallurgical Resources by 27.2% during 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 in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Alpha Metallurgical Resources by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 721,872 shares of the energy company's stock worth $148,192,000 after buying an additional 38,300 shares in the last quarter. Finally, Continental General Insurance Co. increased its stake in shares of Alpha Metallurgical Resources by 6.4% during the fourth quarter. Continental General Insurance Co. now owns 644,025 shares of the energy company's stock valued at $128,728,000 after buying an additional 38,576 shares during the period. Hedge funds and other institutional investors own 84.29% of the company's stock.
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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