Alpha Metallurgical Resources, Inc. (NYSE:AMR) Stock Now Rated “Reduce” by Wall Street Analysts

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) have been given an average rating of “Reduce” by the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $179.75.

AMR has been the subject of a number of recent analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. B. Riley Financial cut their price target on shares of Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, August 20th. UBS Group lifted their price target on shares of Alpha Metallurgical Resources from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. Zacks Research lowered shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, August 27th. Finally, Wall Street Zen cut shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th.

Insider Activity at Alpha Metallurgical Resources

In other news, Director Kenneth Courtis bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were acquired at an average cost of $225.83 per share, with a total value of $2,258,300.00. Following the transaction, the director owned 1,035,394 shares of the company’s stock, valued at $233,823,027.02. This represents a 0.98% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders acquired 35,000 shares of company stock worth $7,388,400. Corporate insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Institutional investors have recently added to or reduced their stakes in the company. Nykredit A S acquired a new stake in Alpha Metallurgical Resources during the 2nd quarter worth approximately $25,000. Leonteq Securities AG purchased a new position in Alpha Metallurgical Resources in the first quarter valued at approximately $37,000. Meeder Asset Management Inc. acquired a new position in Alpha Metallurgical Resources during the second quarter valued at approximately $49,000. Freestone Grove Partners LP acquired a new position in Alpha Metallurgical Resources during the second quarter valued at approximately $76,000. Finally, Pinnacle Holdings LLC acquired a new position in Alpha Metallurgical Resources during the second quarter valued at approximately $112,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Alpha Metallurgical Resources Stock Performance

NYSE AMR opened at $158.23 on Wednesday. The company has a quick ratio of 2.37, a current ratio of 3.41 and a debt-to-equity ratio of 0.01. Alpha Metallurgical Resources has a fifty-two week low of $133.64 and a fifty-two week high of $253.82. The business has a fifty day moving average of $190.37 and a 200-day moving average of $181.64. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -44.20 and a beta of 0.85.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $421.29 million for the quarter, compared to analyst estimates of $521.61 million. During the same quarter in the prior year, the company posted ($0.38) EPS. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, analysts predict that Alpha Metallurgical Resources will post -2.40 earnings per share for the current fiscal year.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc is a mining company focused primarily on the production and sale of metallurgical coal. Its coal is used by steelmakers and coke producers in the manufacturing of steel, with additional sales of thermal coal for power generation. The company serves domestic and international customers through a network of mines and related operations.

Alpha operates principally in the Central Appalachian region, with mining assets in West Virginia and Virginia. Its activities include underground and surface mining, coal preparation, processing, and transportation.