Alpha Metallurgical Resources (NYSE:AMR) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Alpha Metallurgical Resources (NYSE:AMR) from a hold rating to a sell rating in a report issued on Saturday.

AMR has been the topic of several other reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Wednesday, June 24th. B. Riley Financial reduced their target price on shares of Alpha Metallurgical Resources from $194.00 to $189.00 and set a “neutral” rating for the company in a report on Tuesday, July 28th. UBS Group began coverage on shares of Alpha Metallurgical Resources in a research note on Friday, July 10th. They issued a “neutral” rating and a $165.00 price target on the stock. Zacks Research upgraded Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Atlantic Securities set a $194.00 target price on Alpha Metallurgical Resources in a research note on Thursday, April 30th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $177.00.

Alpha Metallurgical Resources Price Performance

NYSE:AMR opened at $153.64 on Friday. The company has a quick ratio of 2.37, a current ratio of 3.41 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average price is $164.66 and its two-hundred day moving average price is $183.74. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -42.92 and a beta of 0.65. Alpha Metallurgical Resources has a 12-month low of $133.64 and a 12-month high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last issued its earnings results on Friday, August 7th. The energy company reported ($0.96) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%.The company had revenue of $421.29 million during the quarter, compared to the consensus estimate of $521.61 million. During the same period in the previous year, the company posted ($0.38) EPS. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, analysts anticipate that Alpha Metallurgical Resources will post 0.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Jason E. Whitehead sold 3,901 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $212.28, for a total value of $828,104.28. Following the completion of the sale, the chief operating officer directly owned 10,450 shares in the company, valued at approximately $2,218,326. The trade was a 27.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth S. Courtis purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average price of $200.73 per share, with a total value of $2,007,300.00. Following the completion of the purchase, the director owned 985,394 shares of the company’s stock, valued at $197,798,137.62. This trade represents a 1.03% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dalal Street LLC raised its position in shares of Alpha Metallurgical Resources by 2.1% in the 4th quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock valued at $108,535,000 after buying an additional 11,000 shares in the last quarter. Kettle Hill Capital Management LLC acquired a new stake in shares of Alpha Metallurgical Resources during the 4th quarter worth approximately $4,823,000. Goehring & Rozencwajg Associates LLC boosted its position in shares of Alpha Metallurgical Resources by 206.8% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company’s stock worth $49,683,000 after acquiring an additional 163,144 shares in the last quarter. Marnell Management LLC bought a new position in Alpha Metallurgical Resources in the fourth quarter valued at approximately $1,116,000. Finally, Impala Asset Management LLC acquired a new position in Alpha Metallurgical Resources during the fourth quarter valued at approximately $4,397,000. 84.29% of the stock is owned by institutional investors and hedge funds.

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.