Kenneth Courtis Buys 10,000 Shares of Alpha Metallurgical Resources (NYSE:AMR) Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis purchased 10,000 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was purchased at an average price of $225.83 per share, with a total value of $2,258,300.00. Following the completion of the transaction, the director owned 1,035,394 shares of the company’s stock, valued at approximately $233,823,027.02. This trade represents a 0.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Alpha Metallurgical Resources Stock Performance

Shares of NYSE AMR opened at $227.27 on Thursday. The stock has a market cap of $2.88 billion, a PE ratio of -63.48 and a beta of 0.68. Alpha Metallurgical Resources, Inc. has a 1 year low of $133.64 and a 1 year high of $253.82. The firm has a fifty day moving average price of $172.52 and a 200-day moving average price of $183.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.41 and a quick ratio of 2.37.

Alpha Metallurgical Resources (NYSE:AMR) last released its earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The company had revenue of $421.29 million for the quarter, compared to analysts’ expectations of $521.61 million. During the same quarter in the previous year, the company earned ($0.38) EPS. Alpha Metallurgical Resources’s revenue for the quarter was down 10.4% on a year-over-year basis. Equities analysts anticipate that Alpha Metallurgical Resources, Inc. will post -2.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System increased its stake in Alpha Metallurgical Resources by 15,924.2% in the 2nd quarter. California State Teachers Retirement System now owns 2,121,128 shares of the energy company’s stock worth $349,859,000 after acquiring an additional 2,107,891 shares during the last quarter. BlackRock Inc. bought a new position in shares of Alpha Metallurgical Resources during the 2nd quarter valued at approximately $299,230,000. State Street Corp grew its holdings in shares of Alpha Metallurgical Resources by 27.2% in the second quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after purchasing an additional 185,281 shares in the last quarter. Goehring & Rozencwajg Associates LLC grew its holdings in shares of Alpha Metallurgical Resources by 206.8% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company’s stock valued at $49,683,000 after purchasing an additional 163,144 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Alpha Metallurgical Resources by 208.0% in the first quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock valued at $13,290,000 after purchasing an additional 71,653 shares in the last quarter. Institutional investors own 84.29% of the company’s stock.

Analyst Upgrades and Downgrades

AMR has been the subject of a number of recent analyst reports. Zacks Research lowered Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 27th. Weiss Ratings downgraded Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. UBS Group started coverage on Alpha Metallurgical Resources in a report on Friday, July 10th. They issued a “neutral” rating and a $165.00 price target on the stock. B. Riley Financial dropped their price target on Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, August 20th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price objective on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Alpha Metallurgical Resources presently has an average rating of “Reduce” and a consensus target price of $176.00.

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.