Insider Buying: Alpha Metallurgical Resources (NYSE:AMR) Director Purchases 5,000 Shares of Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was bought at an average cost of $216.53 per share, with a total value of $1,082,650.00. Following the acquisition, the director owned 1,020,394 shares in the company, valued at $220,945,912.82. The trade was a 0.49% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Alpha Metallurgical Resources Stock Up 3.0%

AMR traded up $6.21 during trading on Tuesday, reaching $216.14. 312,365 shares of the stock were exchanged, compared to its average volume of 285,552. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 3.41. The stock’s 50 day moving average price is $159.95 and its two-hundred day moving average price is $180.85. Alpha Metallurgical Resources, Inc. has a twelve month low of $133.64 and a twelve month high of $253.82. The stock has a market cap of $2.74 billion, a P/E ratio of -60.38 and a beta of 0.65.

Alpha Metallurgical Resources (NYSE:AMR) 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 analysts’ expectations 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 company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.38) earnings per share. Equities analysts expect that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen lowered Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Atlantic Securities set a $194.00 price target on Alpha Metallurgical Resources in a research note on Thursday, April 30th. Weiss Ratings cut shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. B. Riley Financial decreased their price objective on shares of Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, August 20th. Finally, Zacks Research raised shares of Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $176.00.

Institutional Trading of Alpha Metallurgical Resources

Several hedge funds have recently added to or reduced their stakes in AMR. Dalal Street LLC boosted its stake 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 during the period. Kettle Hill Capital Management LLC bought a new stake in shares of Alpha Metallurgical Resources during the 4th quarter valued at $4,823,000. Old West Investment Management LLC bought a new stake in shares of Alpha Metallurgical Resources during the 2nd quarter valued at $9,932,000. Goehring & Rozencwajg Associates LLC grew its holdings in shares of Alpha Metallurgical Resources by 206.8% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company’s stock worth $49,683,000 after purchasing an additional 163,144 shares in the last quarter. Finally, Marnell Management LLC bought a new position in shares of Alpha Metallurgical Resources in the fourth quarter worth $1,116,000. 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.