Alpha Metallurgical Resources (NYSE:AMR) Director Kenneth Courtis Buys 5,000 Shares

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis bought 5,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were acquired at an average cost of $216.53 per share, with a total value of $1,082,650.00. Following the purchase, the director directly owned 1,020,394 shares of the company’s stock, valued at approximately $220,945,912.82. This represents a 0.49% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Alpha Metallurgical Resources Stock Performance

Shares of AMR opened at $216.14 on Wednesday. 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 has a market cap of $2.74 billion, a P/E ratio of -60.38 and a beta of 0.65. The business’s 50 day moving average price is $160.52 and its 200-day moving average price is $180.90. Alpha Metallurgical Resources, Inc. has a 52 week low of $133.64 and a 52 week high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. The company had revenue of $421.29 million during the quarter, compared to analyst estimates of $521.61 million. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%.The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.38) EPS. Equities research analysts anticipate that Alpha Metallurgical Resources, Inc. will post -2.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dalal Street LLC grew its holdings in shares of Alpha Metallurgical Resources by 2.1% in the fourth quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock worth $108,535,000 after acquiring an additional 11,000 shares during the period. Kettle Hill Capital Management LLC purchased a new position in Alpha Metallurgical Resources in the fourth quarter worth about $4,823,000. Old West Investment Management LLC purchased a new position in Alpha Metallurgical Resources in the second quarter worth about $9,932,000. Goehring & Rozencwajg Associates LLC grew its stake 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 valued at $49,683,000 after purchasing an additional 163,144 shares during the period. Finally, Marnell Management LLC purchased a new stake in shares of Alpha Metallurgical Resources during the 4th quarter valued at about $1,116,000. Institutional investors own 84.29% of the company’s stock.

Wall Street Analysts Forecast Growth

AMR has been the topic of a number of analyst reports. 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. Atlantic Securities set a $194.00 target price on shares of Alpha Metallurgical Resources in a report on Thursday, April 30th. Wall Street Zen downgraded shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Jefferies Financial Group reiterated a “hold” rating and set a $160.00 price target on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. Finally, Zacks Research upgraded shares of Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Alpha Metallurgical Resources presently has an average rating of “Reduce” and a consensus target price of $176.00.

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.