Benchmark Reiterates “Hold” Rating for Alpha Metallurgical Resources (NYSE:AMR)

Alpha Metallurgical Resources (NYSE:AMR)‘s stock had its “hold” rating reaffirmed by investment analysts at Benchmark in a report released on Tuesday, Benzinga reports.

Separately, B. Riley reduced their price objective on shares of Alpha Metallurgical Resources from $381.00 to $374.00 and set a “buy” rating for the company in a research note on Monday, April 15th.

Alpha Metallurgical Resources Stock Down 10.9 %

AMR stock opened at $296.40 on Tuesday. The business has a 50 day moving average of $334.71 and a 200 day moving average of $324.80. The firm has a market cap of $3.86 billion, a PE ratio of 6.09 and a beta of 1.38. Alpha Metallurgical Resources has a twelve month low of $132.72 and a twelve month high of $452.00.

Alpha Metallurgical Resources (NYSE:AMR) last released its earnings results on Monday, May 6th. The energy company reported $9.59 EPS for the quarter, missing analysts’ consensus estimates of $9.61 by ($0.02). The company had revenue of $864.07 million during the quarter, compared to analysts’ expectations of $845.35 million. Alpha Metallurgical Resources had a return on equity of 46.22% and a net margin of 20.80%. The company’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $17.01 earnings per share. On average, research analysts expect that Alpha Metallurgical Resources will post 29.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Alpha Metallurgical Resources

In other news, Director David J. Stetson sold 4,502 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $388.26, for a total value of $1,747,946.52. Following the completion of the transaction, the director now owns 20,104 shares in the company, valued at $7,805,579.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kenneth S. Courtis sold 22,802 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $302.81, for a total transaction of $6,904,673.62. Following the transaction, the director now directly owns 638,234 shares of the company’s stock, valued at approximately $193,263,637.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David J. Stetson sold 4,502 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $388.26, for a total value of $1,747,946.52. Following the sale, the director now owns 20,104 shares of the company’s stock, valued at approximately $7,805,579.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,971 shares of company stock worth $55,479,986. Insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James & Associates grew its position in shares of Alpha Metallurgical Resources by 203.8% during the 3rd quarter. Raymond James & Associates now owns 9,546 shares of the energy company’s stock valued at $2,479,000 after acquiring an additional 6,404 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Alpha Metallurgical Resources by 20.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,376 shares of the energy company’s stock worth $617,000 after purchasing an additional 396 shares in the last quarter. Meritage Portfolio Management raised its position in shares of Alpha Metallurgical Resources by 5.6% during the 3rd quarter. Meritage Portfolio Management now owns 1,724 shares of the energy company’s stock valued at $448,000 after purchasing an additional 92 shares during the period. M&T Bank Corp purchased a new position in shares of Alpha Metallurgical Resources during the 3rd quarter valued at $259,000. Finally, Principal Financial Group Inc. boosted its holdings in Alpha Metallurgical Resources by 52.5% in the 3rd quarter. Principal Financial Group Inc. now owns 12,182 shares of the energy company’s stock worth $3,164,000 after buying an additional 4,193 shares during the period. 84.29% of the stock is owned by hedge funds and other institutional investors.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc, a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company offers metallurgical coal products. It operates twenty-two active mines and nine coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc and changed its name to Alpha Metallurgical Resources, Inc in February 2021.