Short Interest in Alpha Metallurgical Resources, Inc. (NYSE:AMR) Increases By 22.5%

Alpha Metallurgical Resources, Inc. (NYSE:AMR) saw a significant increase in short interest in February. As of February 13th, there was short interest totaling 1,675,954 shares, an increase of 22.5% from the January 29th total of 1,367,797 shares. Approximately 15.5% of the shares of the stock are sold short. Based on an average daily volume of 269,930 shares, the days-to-cover ratio is currently 6.2 days. Based on an average daily volume of 269,930 shares, the days-to-cover ratio is currently 6.2 days. Approximately 15.5% of the shares of the stock are sold short.

Insider Buying and Selling at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, Director Michael Gorzynski acquired 38,576 shares of the company’s stock in a transaction on Monday, December 15th. The stock was acquired at an average cost of $188.50 per share, with a total value of $7,271,576.00. Following the purchase, 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 purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kenneth S. Courtis bought 36,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were acquired at an average price of $175.26 per share, for a total transaction of $6,309,360.00. Following the completion of the transaction, the director directly owned 770,537 shares in the company, valued at approximately $135,044,314.62. This represents a 4.90% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 98,576 shares of company stock worth $17,994,174 over the last 90 days. 16.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of Alpha Metallurgical Resources by 55.0% during the 1st quarter. Royal Bank of Canada now owns 2,029 shares of the energy company’s stock valued at $254,000 after purchasing an additional 720 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Alpha Metallurgical Resources by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,548 shares of the energy company’s stock worth $820,000 after acquiring an additional 295 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Alpha Metallurgical Resources by 208.0% during the first quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock valued at $13,290,000 after acquiring an additional 71,653 shares in the last quarter. Intech Investment Management LLC raised its position in shares of Alpha Metallurgical Resources by 48.3% in the 1st quarter. Intech Investment Management LLC now owns 13,149 shares of the energy company’s stock valued at $1,647,000 after purchasing an additional 4,281 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in Alpha Metallurgical Resources during the 2nd quarter worth approximately $391,000. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMR has been the subject of a number of recent research reports. Benchmark reiterated a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday. Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Monday, December 29th. Jefferies Financial Group reissued a “hold” rating and issued a $185.00 price objective on shares of Alpha Metallurgical Resources in a research report on Monday. Zacks Research downgraded Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, February 5th. Finally, Texas Capital downgraded Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $194.00.

Alpha Metallurgical Resources Stock Down 6.8%

Shares of NYSE:AMR traded down $12.49 during trading hours on Thursday, hitting $170.20. The company’s stock had a trading volume of 108,515 shares, compared to its average volume of 289,489. The firm’s fifty day moving average price is $205.75 and its 200 day moving average price is $178.29. Alpha Metallurgical Resources has a 52 week low of $97.41 and a 52 week high of $253.82. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -35.91 and a beta of 0.79. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.47 and a quick ratio of 3.53.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Friday, February 27th. The energy company reported ($1.34) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.34). Alpha Metallurgical Resources had a negative return on equity of 3.88% and a negative net margin of 2.90%.The business had revenue of $520.47 million for the quarter, compared to the consensus estimate of $538.45 million. During the same period last year, the business posted ($0.16) EPS. The business’s revenue was down 15.7% compared to the same quarter last year. As a group, research analysts expect that Alpha Metallurgical Resources will post 14.31 EPS for the current year.

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.