Kenneth Courtis Buys 5,000 Shares of Alpha Metallurgical Resources (NYSE:AMR) Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis bought 5,000 shares of Alpha Metallurgical Resources stock in a transaction dated Friday, August 28th. The stock was purchased at an average price of $228.99 per share, for a total transaction of $1,144,950.00. Following the purchase, the director directly owned 1,025,394 shares in the company, valued at $234,804,972.06. This represents a 0.49% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Alpha Metallurgical Resources Trading Down 1.3%

Shares of Alpha Metallurgical Resources stock opened at $232.73 on Wednesday. The stock has a market capitalization of $2.95 billion, a P/E ratio of -65.01 and a beta of 0.65. The company has a quick ratio of 2.37, a current ratio of 3.41 and a debt-to-equity ratio of 0.01. The company has a 50-day simple moving average of $165.19 and a 200 day simple moving average of $181.96. Alpha Metallurgical Resources, Inc. has a 12-month low of $133.64 and a 12-month high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $421.29 million during the quarter, compared to the consensus estimate of $521.61 million. During the same period last year, the firm posted ($0.38) EPS. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. Research analysts expect that Alpha Metallurgical Resources, Inc. will post -2.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AMR has been the subject of a number of recent analyst reports. UBS Group assumed coverage on Alpha Metallurgical Resources in a report on Friday, July 10th. They set a “neutral” rating and a $165.00 price target for 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. B. Riley Financial decreased their target price on Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, August 20th. Weiss Ratings lowered Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Finally, Zacks Research cut Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, August 27th. Five equities research 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, Alpha Metallurgical Resources presently has a consensus rating of “Reduce” and a consensus price target of $176.00.

Institutional Trading of Alpha Metallurgical Resources

A number of hedge funds and other institutional investors have recently modified their holdings of AMR. California State Teachers Retirement System lifted its holdings in Alpha Metallurgical Resources by 15,924.2% during 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 buying an additional 2,107,891 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Alpha Metallurgical Resources in the 2nd quarter valued at $299,230,000. State Street Corp increased its stake in shares of Alpha Metallurgical Resources by 27.2% in the 2nd 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. Goehring & Rozencwajg Associates LLC increased its stake in shares of Alpha Metallurgical Resources by 206.8% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company’s stock valued at $49,683,000 after buying an additional 163,144 shares during the period. Finally, Millennium Management LLC raised its position in shares of Alpha Metallurgical Resources by 208.0% during the first quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock worth $13,290,000 after acquiring an additional 71,653 shares during the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

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.