Alpha Metallurgical Resources (NYSE:AMR) Trading Up 7.4% – What’s Next?

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s stock price rose 7.4% during trading on Wednesday . The stock traded as high as $173.39 and last traded at $173.97. Approximately 44,168 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 320,505 shares. The stock had previously closed at $162.00.

Wall Street Analyst Weigh In

AMR has been the topic of a number of recent research reports. Wall Street Zen raised Alpha Metallurgical Resources from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Monday. Jefferies Financial Group increased their price target on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a “hold” rating in a research report on Monday, August 11th. Finally, B. Riley decreased their price objective on Alpha Metallurgical Resources from $173.00 to $171.00 and set a “buy” rating for the company in a research note on Tuesday, August 5th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $160.50.

Alpha Metallurgical Resources Price Performance

The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -50.15 and a beta of 0.91. The stock has a 50 day simple moving average of $163.42 and a two-hundred day simple moving average of $140.63.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings data on Thursday, November 6th. The energy company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.07). Alpha Metallurgical Resources had a negative return on equity of 2.88% and a negative net margin of 2.09%.The business had revenue of $526.78 million for the quarter, compared to analyst estimates of $543.77 million. During the same period in the prior year, the company posted $0.29 earnings per share. The company’s revenue was down 21.6% compared to the same quarter last year. Equities research analysts predict that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Insider Transactions at Alpha Metallurgical Resources

In related news, Director Kenneth S. Courtis purchased 55,000 shares of the company’s stock in a transaction on Friday, September 12th. The shares were bought at an average cost of $142.64 per share, for a total transaction of $7,845,200.00. Following the completion of the purchase, the director directly owned 681,537 shares of the company’s stock, valued at approximately $97,214,437.68. This trade represents a 8.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.00% of the stock is owned by company insiders.

Institutional Trading of Alpha Metallurgical Resources

Institutional investors have recently modified their holdings of the stock. State Street Corp grew its position in shares of Alpha Metallurgical Resources by 27.2% in the 2nd quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after buying an additional 185,281 shares during the last quarter. Dalal Street LLC boosted its stake in Alpha Metallurgical Resources by 15.6% in the third quarter. Dalal Street LLC now owns 532,000 shares of the energy company’s stock valued at $87,296,000 after acquiring an additional 71,673 shares in the last quarter. American Century Companies Inc. boosted its stake in Alpha Metallurgical Resources by 5.6% in the third quarter. American Century Companies Inc. now owns 416,577 shares of the energy company’s stock valued at $68,356,000 after acquiring an additional 22,243 shares in the last quarter. Gendell Jeffrey L grew its holdings in shares of Alpha Metallurgical Resources by 30.9% during the second quarter. Gendell Jeffrey L now owns 296,396 shares of the energy company’s stock worth $33,339,000 after purchasing an additional 69,950 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Alpha Metallurgical Resources by 6.1% during the second quarter. Geode Capital Management LLC now owns 268,609 shares of the energy company’s stock worth $30,219,000 after purchasing an additional 15,525 shares during the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.

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.