Alpha Metallurgical Resources (NYSE:AMR) Downgraded by Zacks Research to “Strong Sell”

Alpha Metallurgical Resources (NYSE:AMR) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday,Zacks.com reports.

A number of other equities analysts have also weighed in on AMR. Weiss Ratings lowered Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. UBS Group initiated coverage on shares of Alpha Metallurgical Resources in a report on Friday, July 10th. They set a “neutral” rating and a $165.00 price objective for the company. Wall Street Zen cut shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Atlantic Securities set a $194.00 target price on shares of Alpha Metallurgical Resources in a research report on Thursday, April 30th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $160.00 price target on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alpha Metallurgical Resources has a consensus rating of “Reduce” and a consensus price target of $176.00.

Alpha Metallurgical Resources Trading Down 0.2%

NYSE AMR opened at $226.84 on Thursday. Alpha Metallurgical Resources has a 12 month low of $133.64 and a 12 month 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’s fifty day moving average price is $162.65 and its 200-day moving average price is $181.49. The stock has a market cap of $2.88 billion, a P/E ratio of -63.36 and a beta of 0.65.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $521.61 million. During the same quarter in the previous year, the firm earned ($0.38) EPS. Alpha Metallurgical Resources’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, equities analysts forecast that Alpha Metallurgical Resources will post -2.4 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Jason E. Whitehead sold 3,901 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $212.28, for a total transaction of $828,104.28. Following the sale, the chief operating officer owned 10,450 shares in the company, valued at $2,218,326. This trade represents a 27.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark Matthew Manno sold 460 shares of the company’s 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 transaction, the executive vice president owned 3,966 shares of the company’s stock, valued at approximately $851,262.24. This represents a 10.39% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have acquired 30,000 shares of company stock valued at $5,992,450. Corporate insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System lifted its position in shares of Alpha Metallurgical Resources by 15,924.2% in the second quarter. California State Teachers Retirement System now owns 2,121,128 shares of the energy company’s stock worth $349,859,000 after buying an additional 2,107,891 shares in the last quarter. BlackRock Inc. purchased a new position in Alpha Metallurgical Resources during the second quarter worth $299,230,000. State Street Corp boosted its position in shares of 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 during the period. Dimensional Fund Advisors LP grew its position in Alpha Metallurgical Resources by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 721,872 shares of the energy company’s stock valued at $148,192,000 after acquiring an additional 38,300 shares during the last quarter. Finally, Continental General Insurance Co. increased its stake in Alpha Metallurgical Resources by 6.4% in the 4th quarter. Continental General Insurance Co. now owns 644,025 shares of the energy company’s stock worth $128,728,000 after buying an additional 38,576 shares during the period. Hedge funds and other 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.