Alpha Metallurgical Resources (NYSE:AMR) Shares Down 5.3% – Here’s What Happened

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) dropped 5.3% on Thursday . The company traded as low as $220.04 and last traded at $220.8630. 36,716 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 286,419 shares. The stock had previously closed at $233.29.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMR. Weiss Ratings downgraded Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Zacks Research lowered shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 27th. Wall Street Zen lowered shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Jefferies Financial Group restated a “hold” rating and set a $160.00 price target on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. Finally, UBS Group assumed coverage on shares of Alpha Metallurgical Resources in a research report on Friday, July 10th. They issued a “neutral” rating and a $165.00 price objective for the company. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $176.00.

Alpha Metallurgical Resources Stock Down 6.4%

The company has a market capitalization of $2.77 billion, a PE ratio of -61.04 and a beta of 0.68. The stock’s fifty day moving average is $166.60 and its two-hundred day moving average is $182.28. The company has a current ratio of 3.41, a quick ratio of 2.37 and a debt-to-equity ratio of 0.01.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. The business had revenue of $421.29 million during the quarter, compared to the consensus estimate of $521.61 million. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.38) earnings per share. As a group, analysts predict that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current year.

Insider Activity

In related news, Director Kenneth S. Courtis purchased 5,000 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were bought at an average price of $228.99 per share, with a total value of $1,144,950.00. Following the acquisition, the director owned 1,025,394 shares of the company’s stock, valued at $234,804,972.06. This trade represents a 0.49% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 35,000 shares of company stock worth $7,137,400. Company insiders own 18.20% of the company’s stock.

Institutional Trading of Alpha Metallurgical Resources

Hedge funds have recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in shares of Alpha Metallurgical Resources during the 4th quarter valued at $29,000. Nykredit A S purchased a new stake in shares of Alpha Metallurgical Resources in the second quarter worth $25,000. Caitong International Asset Management Co. Ltd raised its position in shares of Alpha Metallurgical Resources by 215.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company’s stock worth $33,000 after buying an additional 112 shares in the last quarter. Leonteq Securities AG bought a new stake in Alpha Metallurgical Resources during the first quarter valued at $37,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Alpha Metallurgical Resources during the fourth quarter valued at $45,000. 84.29% of the stock is currently owned by 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.