Alpha Metallurgical Resources (NYSE:AMR) Stock Price Down 4.1% – Here’s Why

Alpha Metallurgical Resources, Inc. (NYSE:AMR) was down 4.1% on Tuesday . The stock traded as low as $204.01 and last traded at $205.3510. Approximately 191,036 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 297,785 shares. The stock had previously closed at $214.24.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AMR shares. B. Riley Financial lifted their price objective on Alpha Metallurgical Resources from $203.00 to $207.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Friday. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. Texas Capital downgraded shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Finally, Zacks Research cut shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 5th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Alpha Metallurgical Resources currently has a consensus rating of “Reduce” and an average price target of $196.00.

Alpha Metallurgical Resources Stock Down 4.6%

The stock has a market cap of $2.61 billion, a price-to-earnings ratio of -43.38 and a beta of 0.79. The company has a current ratio of 4.47, a quick ratio of 3.53 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $195.96 and its two-hundred day moving average is $185.28.

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

Insiders Place Their Bets

In other Alpha Metallurgical Resources news, insider Daniel E. Horn sold 971 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $170.05, for a total value of $165,118.55. Following the completion of the transaction, the insider directly owned 7,320 shares in the company, valued at approximately $1,244,766. The trade was a 11.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth S. Courtis purchased 8,000 shares of Alpha Metallurgical Resources stock in a transaction on Thursday, March 12th. The shares were acquired at an average cost of $191.07 per share, for a total transaction of $1,528,560.00. Following the purchase, the director owned 874,537 shares in the company, valued at approximately $167,097,784.59. This trade represents a 0.92% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 58,000 shares of company stock valued at $10,530,610. Company insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Large investors have recently added to or reduced their stakes in the business. First Citizens Bank & Trust Co. boosted its stake in Alpha Metallurgical Resources by 1.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 4,058 shares of the energy company’s stock worth $811,000 after buying an additional 72 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Alpha Metallurgical Resources during the 4th quarter valued at about $233,000. Regal Partners Ltd purchased a new position in shares of Alpha Metallurgical Resources during the 4th quarter worth about $977,000. Empowered Funds LLC lifted its holdings in shares of Alpha Metallurgical Resources by 47.3% during the 4th quarter. Empowered Funds LLC now owns 20,822 shares of the energy company’s stock worth $4,162,000 after acquiring an additional 6,684 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Alpha Metallurgical Resources in the fourth quarter worth approximately $1,145,000. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

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.