Alpha Metallurgical Resources’ (AMR) “Hold” Rating Reaffirmed at Benchmark

Benchmark restated their hold rating on shares of Alpha Metallurgical Resources (NYSE:AMR) in a report released on Tuesday morning, Benzinga reports.

Separately, B. Riley lifted their price target on shares of Alpha Metallurgical Resources from $374.00 to $375.00 and gave the stock a buy rating in a research note on Tuesday, May 7th.

Alpha Metallurgical Resources Stock Performance

Shares of NYSE:AMR traded up $2.44 on Tuesday, reaching $258.63. The company’s stock had a trading volume of 101,338 shares, compared to its average volume of 219,368. Alpha Metallurgical Resources has a 52-week low of $179.09 and a 52-week high of $452.00. The company has a market cap of $3.36 billion, a P/E ratio of 6.27 and a beta of 1.36. The company has a 50-day simple moving average of $296.38 and a 200 day simple moving average of $325.63.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings data on Monday, August 5th. The energy company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.46 by $0.03. Alpha Metallurgical Resources had a net margin of 16.89% and a return on equity of 36.77%. The business had revenue of $804.00 million during the quarter, compared to analysts’ expectations of $733.05 million. During the same period last year, the company posted $12.16 EPS. The business’s revenue was down 6.3% on a year-over-year basis. On average, equities research analysts forecast that Alpha Metallurgical Resources will post 28.83 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Roger Lee Nicholson sold 3,593 shares of Alpha Metallurgical Resources stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $290.16, for a total transaction of $1,042,544.88. Following the completion of the transaction, the chief accounting officer now directly owns 6,127 shares of the company’s stock, valued at approximately $1,777,810.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 15.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several large investors have recently added to or reduced their stakes in the stock. Denali Advisors LLC purchased a new stake in Alpha Metallurgical Resources in the 2nd quarter valued at about $2,581,000. Edgestream Partners L.P. boosted its position in Alpha Metallurgical Resources by 743.8% in the 2nd quarter. Edgestream Partners L.P. now owns 17,247 shares of the energy company’s stock valued at $4,838,000 after buying an additional 15,203 shares during the period. WINTON GROUP Ltd boosted its position in Alpha Metallurgical Resources by 10.7% in the 2nd quarter. WINTON GROUP Ltd now owns 3,208 shares of the energy company’s stock valued at $900,000 after buying an additional 310 shares during the period. Federated Hermes Inc. purchased a new stake in Alpha Metallurgical Resources in the 2nd quarter valued at about $25,000. Finally, BOKF NA raised its holdings in shares of Alpha Metallurgical Resources by 19.0% in the 2nd quarter. BOKF NA now owns 1,095 shares of the energy company’s stock valued at $307,000 after purchasing an additional 175 shares in the last quarter. 84.29% of the stock is owned by hedge funds and other institutional investors.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc, a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company offers metallurgical coal products. It operates twenty-two active mines and nine coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc and changed its name to Alpha Metallurgical Resources, Inc in February 2021.