Alpha Metallurgical Resources (NYSE:AMR) Director Kenneth Courtis Acquires 10,000 Shares

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis acquired 10,000 shares of Alpha Metallurgical Resources stock in a transaction dated Friday, June 12th. The shares were acquired at an average price of $200.73 per share, with a total value of $2,007,300.00. Following the completion of the transaction, the director owned 985,394 shares of the company’s stock, valued at approximately $197,798,137.62. This trade represents a 1.03% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Alpha Metallurgical Resources Stock Performance

Shares of NYSE AMR opened at $187.35 on Wednesday. The company has a current ratio of 3.67, a quick ratio of 2.81 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $193.55 and a 200-day simple moving average of $197.22. The company has a market cap of $2.38 billion, a PE ratio of -62.45 and a beta of 0.62. Alpha Metallurgical Resources, Inc. has a 12-month low of $97.41 and a 12-month high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings data on Friday, May 8th. The energy company reported ($0.86) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.86). The business had revenue of $447.32 million during the quarter, compared to the consensus estimate of $535.15 million. Alpha Metallurgical Resources had a negative return on equity of 2.47% and a negative net margin of 1.83%.The business’s revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.60) earnings per share. On average, equities research analysts forecast that Alpha Metallurgical Resources, Inc. will post 11.98 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMR. Weiss Ratings reiterated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Friday, March 27th. Jefferies Financial Group restated a “hold” rating and issued a $185.00 target price on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Zacks Research downgraded Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. Atlantic Securities set a $194.00 target price on Alpha Metallurgical Resources in a research report on Thursday, April 30th. Finally, Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Alpha Metallurgical Resources presently has a consensus rating of “Reduce” and a consensus target price of $195.33.

Institutional Investors Weigh In On Alpha Metallurgical Resources

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its position in Alpha Metallurgical Resources by 27.2% in the second quarter. State Street Corp now owns 865,934 shares of the energy company’s stock worth $97,400,000 after purchasing an additional 185,281 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Alpha Metallurgical Resources by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 721,872 shares of the energy company’s stock valued at $148,192,000 after buying an additional 38,300 shares in the last quarter. Continental General Insurance Co. increased its holdings in shares of Alpha Metallurgical Resources by 6.4% in 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 in the last quarter. Dalal Street LLC increased its holdings in shares of Alpha Metallurgical Resources by 2.1% in the fourth quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock valued at $108,535,000 after buying an additional 11,000 shares in the last quarter. Finally, Gendell Jeffrey L increased its holdings in shares of Alpha Metallurgical Resources by 4.0% in the fourth quarter. Gendell Jeffrey L now owns 494,072 shares of the energy company’s stock valued at $98,755,000 after buying an additional 19,033 shares in the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Company Profile

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.