Alpha Metallurgical Resources (NYSE:AMR) Director Kenneth Courtis Purchases 10,000 Shares

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was bought at an average cost of $186.87 per share, with a total value of $1,868,700.00. Following the acquisition, the director owned 866,537 shares in the company, valued at approximately $161,929,769.19. This trade represents a 1.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alpha Metallurgical Resources Stock Performance

Shares of AMR traded down $1.64 during mid-day trading on Friday, reaching $187.84. The company had a trading volume of 232,444 shares, compared to its average volume of 305,479. The stock has a market capitalization of $2.40 billion, a P/E ratio of -39.63 and a beta of 0.79. Alpha Metallurgical Resources, Inc. has a 52-week low of $97.41 and a 52-week high of $253.82. The stock has a 50 day moving average of $202.47 and a two-hundred day moving average of $179.96. The company has a quick ratio of 3.53, a current ratio of 4.47 and a debt-to-equity ratio of 0.01.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Friday, February 27th. The energy company reported ($1.34) earnings per share for the quarter, meeting the consensus estimate of ($1.34). Alpha Metallurgical Resources had a negative return on equity of 3.88% and a negative net margin of 2.90%.The company had revenue of $436.33 million during the quarter, compared to analysts’ expectations of $538.45 million. During the same period last year, the business earned ($0.16) earnings per share. Alpha Metallurgical Resources’s quarterly revenue was down 15.7% on a year-over-year basis. On average, analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in Alpha Metallurgical Resources by 55.0% in the 1st quarter. Royal Bank of Canada now owns 2,029 shares of the energy company’s stock worth $254,000 after acquiring an additional 720 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Alpha Metallurgical Resources by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,548 shares of the energy company’s stock valued at $820,000 after purchasing an additional 295 shares in the last quarter. Millennium Management LLC grew its position 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 during the period. Intech Investment Management LLC grew its position in shares of Alpha Metallurgical Resources by 48.3% in the first quarter. Intech Investment Management LLC now owns 13,149 shares of the energy company’s stock valued at $1,647,000 after purchasing an additional 4,281 shares during the period. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Alpha Metallurgical Resources during the second quarter worth about $391,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMR. B. Riley Financial boosted their target price on shares of Alpha Metallurgical Resources from $203.00 to $207.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Monday, December 29th. Zacks Research cut shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, February 5th. Benchmark reiterated a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Finally, Jefferies Financial Group reissued a “hold” rating and set a $185.00 target price on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $196.00.

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.