Insider Buying: Alpha Metallurgical Resources (NYSE:AMR) Director Buys $2,007,300.00 in Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis acquired 10,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was bought at an average cost of $200.73 per share, with a total value of $2,007,300.00. Following the completion of the acquisition, the director directly owned 985,394 shares in the company, valued at approximately $197,798,137.62. This represents a 1.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Alpha Metallurgical Resources Stock Performance

AMR opened at $186.18 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.81 and a current ratio of 3.67. Alpha Metallurgical Resources, Inc. has a 52-week low of $97.41 and a 52-week high of $253.82. The firm has a market cap of $2.37 billion, a P/E ratio of -62.06 and a beta of 0.62. The business’s fifty day moving average is $192.94 and its 200-day moving average is $197.63.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings results on Friday, May 8th. The energy company reported ($0.86) EPS for the quarter, meeting analysts’ consensus estimates of ($0.86). Alpha Metallurgical Resources had a negative return on equity of 2.47% and a negative net margin of 1.83%.The business had revenue of $447.32 million during the quarter, compared to the consensus estimate of $535.15 million. During the same quarter in the previous year, the firm earned ($2.60) earnings per share. Alpha Metallurgical Resources’s revenue for the quarter was down 1.3% compared to the same quarter last year. Sell-side analysts expect that Alpha Metallurgical Resources, Inc. will post 8.21 EPS for the current fiscal year.

Analysts Set New Price Targets

AMR has been the subject of several analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $185.00 target price on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Atlantic Securities set a $194.00 price objective on shares of Alpha Metallurgical Resources in a research note on Thursday, April 30th. Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Friday, March 27th. Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. Finally, Zacks Research downgraded Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $195.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AMR. Los Angeles Capital Management LLC bought a new stake in shares of Alpha Metallurgical Resources during the 4th quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd lifted its stake in Alpha Metallurgical Resources by 215.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company’s stock valued at $33,000 after purchasing an additional 112 shares during the last quarter. Leonteq Securities AG acquired a new stake in Alpha Metallurgical Resources in the first quarter valued at approximately $37,000. Aster Capital Management DIFC Ltd acquired a new stake in Alpha Metallurgical Resources in the fourth quarter valued at approximately $45,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Alpha Metallurgical Resources by 85.4% during the third quarter. PNC Financial Services Group Inc. now owns 380 shares of the energy company’s stock worth $62,000 after buying an additional 175 shares during the last quarter. Institutional investors own 84.29% of the company’s stock.

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.