Alpha Metallurgical Resources, Inc. (NYSE:AMR – Get Free Report) Director Kenneth Courtis acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were acquired at an average price of $225.83 per share, with a total value of $2,258,300.00. Following the completion of the transaction, the director owned 1,035,394 shares in the company, valued at $233,823,027.02. The trade was a 0.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Alpha Metallurgical Resources Price Performance
NYSE:AMR traded down $1.97 on Tuesday, hitting $223.44. The company had a trading volume of 263,085 shares, compared to its average volume of 349,685. Alpha Metallurgical Resources, Inc. has a 52 week low of $133.64 and a 52 week 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 market capitalization of $2.83 billion, a price-to-earnings ratio of -62.41 and a beta of 0.68. The firm has a 50 day moving average of $171.13 and a two-hundred day moving average of $183.39.
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. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%.The firm had revenue of $421.29 million for the quarter, compared to analyst estimates of $521.61 million. During the same period last year, the firm posted ($0.38) earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, research analysts anticipate that Alpha Metallurgical Resources, Inc. will post -2.4 earnings per share for the current year.
Analyst Ratings Changes
A number of equities research analysts have weighed in on AMR shares. Zacks Research downgraded Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, August 27th. B. Riley Financial reduced their price objective on shares of Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, August 20th. Jefferies Financial Group reiterated a “hold” rating and issued a $160.00 price objective on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 21st. Wall Street Zen downgraded shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, UBS Group began coverage on shares of Alpha Metallurgical Resources in a research note on Friday, July 10th. They set a “neutral” rating and a $165.00 target price on the stock. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $176.00.
Hedge Funds Weigh In On Alpha Metallurgical Resources
Large investors have recently added to or reduced their stakes in the business. Nykredit A S purchased a new position in Alpha Metallurgical Resources during the second quarter worth about $25,000. Los Angeles Capital Management LLC bought a new position in shares of Alpha Metallurgical Resources during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Alpha Metallurgical Resources by 215.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company’s stock worth $33,000 after buying an additional 112 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of Alpha Metallurgical Resources in the 1st quarter worth approximately $37,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Alpha Metallurgical Resources in the 4th quarter worth approximately $45,000. 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.
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