Alpha Metallurgical Resources (NYSE:AMR) Shares Up 8.7% – Here’s What Happened

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s stock price shot up 8.7% during trading on Monday . The stock traded as high as $218.59 and last traded at $216.20. 79,201 shares traded hands during trading, a decline of 72% from the average session volume of 280,709 shares. The stock had previously closed at $198.97.

Analyst Upgrades and Downgrades

AMR has been the subject of a number of recent analyst reports. Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday, March 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Friday, March 27th. Jefferies Financial Group reissued a “hold” rating and issued a $185.00 price objective on shares of Alpha Metallurgical Resources in a report on Monday, March 2nd. Atlantic Securities set a $194.00 price objective on Alpha Metallurgical Resources in a report on Thursday, April 30th. Finally, B. Riley Financial increased their price objective on Alpha Metallurgical Resources from $203.00 to $207.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $195.33.

Alpha Metallurgical Resources Price Performance

The business has a 50-day moving average price of $195.51 and a 200 day moving average price of $194.03. The company has a market cap of $2.76 billion, a price-to-earnings ratio of -72.23 and a beta of 0.62. The company has a current ratio of 3.67, a quick ratio of 2.81 and a debt-to-equity ratio of 0.01.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings data on Friday, May 8th. The energy company reported ($0.86) EPS for the quarter, meeting analysts’ consensus estimates of ($0.86). Alpha Metallurgical Resources had a negative return on equity of 2.47% and a negative net margin of 1.83%.The company had revenue of $447.32 million during the quarter, compared to the consensus estimate of $535.15 million. During the same quarter in the prior year, the firm earned ($2.60) EPS. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, research analysts expect that Alpha Metallurgical Resources, Inc. will post 11.98 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Mark Matthew Manno sold 460 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $214.64, for a total transaction of $98,734.40. Following the completion of the sale, the executive vice president owned 3,966 shares in the company, valued at approximately $851,262.24. This represents a 10.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel E. Horn sold 971 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $170.05, for a total value of $165,118.55. Following the sale, the insider owned 7,320 shares of the company’s stock, valued at $1,244,766. This trade represents a 11.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders purchased 73,000 shares of company stock worth $13,368,910. Insiders own 18.20% of the company’s stock.

Institutional Trading of Alpha Metallurgical Resources

Several large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in Alpha Metallurgical Resources by 23.0% during the 1st quarter. California State Teachers Retirement System now owns 13,237 shares of the energy company’s stock valued at $2,717,000 after purchasing an additional 2,474 shares during the period. Empowered Funds LLC raised its stake in Alpha Metallurgical Resources by 79.4% during the 1st quarter. Empowered Funds LLC now owns 37,347 shares of the energy company’s stock valued at $7,666,000 after purchasing an additional 16,525 shares during the period. Quantinno Capital Management LP raised its stake in Alpha Metallurgical Resources by 12.6% during the 1st quarter. Quantinno Capital Management LP now owns 1,280 shares of the energy company’s stock valued at $263,000 after purchasing an additional 143 shares during the period. Sei Investments Co. raised its stake in Alpha Metallurgical Resources by 86.0% during the 1st quarter. Sei Investments Co. now owns 38,213 shares of the energy company’s stock valued at $7,844,000 after purchasing an additional 17,673 shares during the period. Finally, State of Wyoming raised its stake in Alpha Metallurgical Resources by 163.4% during the 1st quarter. State of Wyoming now owns 2,766 shares of the energy company’s stock valued at $568,000 after purchasing an additional 1,716 shares during the period. 84.29% of the stock is owned by institutional investors and hedge funds.

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.