Alpha Metallurgical Resources (NYSE:AMR) Stock Price Up 5.4% – What’s Next?

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) rose 5.4% during mid-day trading on Wednesday. The stock traded as high as $175.61 and last traded at $175.0430. Approximately 33,264 shares were traded during trading, a decline of 89% from the average session volume of 289,811 shares. The stock had previously closed at $166.00.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. B. Riley Financial cut their price objective on shares of Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, August 20th. Wall Street Zen cut Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. UBS Group started coverage on 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. Jefferies Financial Group restated a “hold” rating and issued a $160.00 price target on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. Finally, Weiss Ratings cut Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $176.00.

Alpha Metallurgical Resources Stock Up 5.0%

The company has a current ratio of 3.41, a quick ratio of 2.37 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.21 billion, a P/E ratio of -48.55 and a beta of 0.68. The firm’s 50 day moving average price is $182.26 and its two-hundred day moving average price is $184.83.

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

Insider Transactions at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, Director Kenneth Courtis purchased 10,000 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were purchased at an average cost of $225.83 per share, with a total value of $2,258,300.00. Following the transaction, the director directly owned 1,035,394 shares of the company’s stock, valued at $233,823,027.02. This represents a 0.98% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have acquired 35,000 shares of company stock valued at $7,388,400. 18.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several hedge funds have recently modified their holdings of AMR. BlackRock Inc. acquired a new stake in Alpha Metallurgical Resources in the second quarter valued at $299,230,000. Goehring & Rozencwajg Associates LLC grew its position in shares of Alpha Metallurgical Resources by 206.8% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company’s stock valued at $49,683,000 after acquiring an additional 163,144 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Alpha Metallurgical Resources during the 2nd quarter worth about $10,969,000. Old West Investment Management LLC acquired a new position in shares of Alpha Metallurgical Resources during the 2nd quarter worth about $9,932,000. Finally, PDT Partners LLC bought a new stake in shares of Alpha Metallurgical Resources in the 2nd quarter valued at about $9,368,000. Institutional investors own 84.29% of the company’s stock.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc is a mining company that produces and markets metallurgical coal, a key raw material used in steelmaking. Its products include premium and high-volatility metallurgical coal, as well as thermal coal, which is used primarily for electricity generation.

The company operates underground and surface mines and related processing facilities in Central Appalachia, principally in Virginia and West Virginia. Alpha sells its coal to domestic and international steel producers, coke manufacturers, and other industrial customers, serving markets in North America, Asia, Europe, and elsewhere.

Alpha Metallurgical Resources was formed from the restructuring of the former Alpha Natural Resources business and operated as Contura Energy before adopting its current name in 2021.