Alpha Metallurgical Resources (NYSE:AMR) Stock Rating Lowered by Zacks Research

Alpha Metallurgical Resources (NYSE:AMR) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Texas Capital downgraded shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. B. Riley Financial cut Alpha Metallurgical Resources from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $204.00 to $203.00 in a research report on Wednesday. Jefferies Financial Group boosted their price objective on shares of Alpha Metallurgical Resources from $165.00 to $205.00 and gave the company a “hold” rating in a research report on Tuesday, January 20th. B. Riley Securities reaffirmed a “neutral” rating and set a $203.00 price target (down from $204.00) on shares of Alpha Metallurgical Resources in a research note on Wednesday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Monday, December 29th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $203.67.

Alpha Metallurgical Resources Stock Up 2.3%

Shares of AMR stock opened at $206.39 on Thursday. The firm’s 50 day moving average price is $208.59 and its two-hundred day moving average price is $172.59. Alpha Metallurgical Resources has a fifty-two week low of $97.41 and a fifty-two week high of $253.82. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -57.97 and a beta of 0.78.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings data on Thursday, November 6th. The energy company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.07). The firm had revenue of $526.78 million during the quarter, compared to analysts’ expectations of $543.77 million. Alpha Metallurgical Resources had a negative net margin of 2.09% and a negative return on equity of 2.88%. The business’s quarterly revenue was down 21.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 earnings per share. On average, equities analysts forecast that Alpha Metallurgical Resources will post 14.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis acquired 36,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were acquired at an average price of $175.26 per share, with a total value of $6,309,360.00. Following the completion of the transaction, the director directly owned 770,537 shares in the company, valued at $135,044,314.62. This trade represents a 4.90% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Gorzynski purchased 38,576 shares of the company’s stock in a transaction on Monday, December 15th. The shares were purchased at an average cost of $188.50 per share, for a total transaction of $7,271,576.00. Following the completion of the transaction, the director directly owned 644,025 shares of the company’s stock, valued at approximately $121,398,712.50. This represents a 6.37% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 98,576 shares of company stock worth $17,994,174. 16.00% of the stock is owned by corporate insiders.

Institutional Trading of Alpha Metallurgical Resources

Several large investors have recently modified their holdings of the stock. Systrade AG purchased a new stake in shares of Alpha Metallurgical Resources during the fourth quarter worth $55,966,000. Crocodile Capital Partners GmbH bought a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at about $40,999,000. State Street Corp raised its stake in shares of Alpha Metallurgical Resources by 27.2% during the second quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after acquiring an additional 185,281 shares during the last quarter. Contrarius Group Holdings Ltd bought a new position in Alpha Metallurgical Resources in the 3rd quarter worth $12,146,000. Finally, Dalal Street LLC raised its holdings 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 worth $87,296,000 after purchasing an additional 71,673 shares in the last quarter. 84.29% of the stock is owned by institutional investors and hedge funds.

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.