Alpha Metallurgical Resources (NYSE:AMR) Reaches New 12-Month High – Here’s What Happened

Alpha Metallurgical Resources, Inc. (NYSE:AMR) shares reached a new 52-week high on Monday . The company traded as high as $248.25 and last traded at $240.8560, with a volume of 12358 shares trading hands. The stock had previously closed at $242.32.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Alpha Metallurgical Resources currently has an average rating of “Hold” and an average target price of $160.50.

Alpha Metallurgical Resources Price Performance

The stock’s fifty day simple moving average is $183.79 and its two-hundred day simple moving average is $157.80. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -69.54 and a beta of 0.79.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings data on Thursday, November 6th. The energy company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.07). The company had revenue of $526.78 million for the quarter, compared to analyst estimates of $543.77 million. Alpha Metallurgical Resources had a negative net margin of 2.09% and a negative return on equity of 2.88%. The company’s revenue for the quarter was down 21.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS. On average, sell-side analysts predict that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Insider Transactions at Alpha Metallurgical Resources

In other news, insider Daniel E. Horn sold 8,125 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $188.32, for a total value of $1,530,100.00. Following the completion of the transaction, the insider directly owned 4,989 shares in the company, valued at $939,528.48. This trade represents a 61.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth S. Courtis acquired 9,000 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were bought at an average price of $188.16 per share, for a total transaction of $1,693,440.00. Following the purchase, the director directly owned 816,537 shares of the company’s stock, valued at approximately $153,639,601.92. This trade represents a 1.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 98,576 shares of company stock valued at $17,994,174. Company insiders own 16.00% of the company’s stock.

Institutional Trading of Alpha Metallurgical Resources

Institutional investors have recently modified their holdings of the company. State Street Corp boosted its stake in Alpha Metallurgical Resources by 27.2% during the second quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after buying an additional 185,281 shares in the last quarter. Dalal Street LLC lifted its holdings in Alpha Metallurgical Resources by 15.6% in the 3rd quarter. Dalal Street LLC now owns 532,000 shares of the energy company’s stock valued at $87,296,000 after acquiring an additional 71,673 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Alpha Metallurgical Resources by 5.6% during the 3rd quarter. American Century Companies Inc. now owns 416,577 shares of the energy company’s stock valued at $68,356,000 after purchasing an additional 22,243 shares in the last quarter. Gendell Jeffrey L grew its stake in shares of Alpha Metallurgical Resources by 30.9% in the 2nd quarter. Gendell Jeffrey L now owns 296,396 shares of the energy company’s stock worth $33,339,000 after purchasing an additional 69,950 shares during the last quarter. Finally, Systrade AG acquired a new position in shares of Alpha Metallurgical Resources in the 4th quarter worth approximately $55,966,000. Institutional investors and hedge funds 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.