Alpha Metallurgical Resources (NYSE:AMR) Trading 4.5% Higher – Here’s What Happened

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) shot up 4.5% on Monday . The company traded as high as $236.00 and last traded at $236.4820. Approximately 22,379 shares were traded during trading, a decline of 92% from the average daily volume of 285,032 shares. The stock had previously closed at $226.23.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $160.00 price objective on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. UBS Group started coverage on shares of Alpha Metallurgical Resources in a research note on Friday, July 10th. They set a “neutral” rating and a $165.00 price target on the stock. B. Riley Financial reduced their price objective on shares of Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, August 20th. Wall Street Zen downgraded shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Weiss Ratings lowered shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Alpha Metallurgical Resources currently has a consensus rating of “Reduce” and an average target price of $176.00.

Alpha Metallurgical Resources Price Performance

The company has a market cap of $2.99 billion, a price-to-earnings ratio of -65.78 and a beta of 0.65. The company has a fifty day simple moving average of $162.65 and a two-hundred day simple moving average of $181.34. 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 (NYSE:AMR) last released its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $421.29 million during the quarter, compared to the consensus estimate of $521.61 million. During the same quarter in the previous year, the company posted ($0.38) EPS. The business’s revenue was down 10.4% on a year-over-year basis. On average, equities research analysts anticipate that Alpha Metallurgical Resources, Inc. will post -2.4 earnings per share for the current fiscal year.

Insider Activity

In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis purchased 15,000 shares of the stock in a transaction dated Thursday, August 20th. The shares were acquired at an average cost of $193.50 per share, for a total transaction of $2,902,500.00. Following the completion of the transaction, the director directly owned 1,015,394 shares of the company’s stock, valued at $196,478,739. This trade represents a 1.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jason E. Whitehead sold 3,901 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $212.28, for a total transaction of $828,104.28. Following the completion of the sale, the chief operating officer owned 10,450 shares in the company, valued at $2,218,326. This represents a 27.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired a total of 30,000 shares of company stock valued at $5,992,450 over the last 90 days. 18.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alpha Metallurgical Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dalal Street LLC grew its holdings in Alpha Metallurgical Resources by 2.1% in the 4th quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock valued at $108,535,000 after buying an additional 11,000 shares during the period. Kettle Hill Capital Management LLC purchased a new position in shares of Alpha Metallurgical Resources during the 4th quarter worth about $4,823,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Alpha Metallurgical Resources in the second quarter worth approximately $8,983,000. Old West Investment Management LLC purchased a new stake in Alpha Metallurgical Resources in the second quarter valued at approximately $9,932,000. Finally, Cibc World Market Inc. purchased a new stake in Alpha Metallurgical Resources in the second quarter valued at approximately $1,741,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

About Alpha Metallurgical Resources

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.