Kenneth Courtis Acquires 15,000 Shares of Alpha Metallurgical Resources (NYSE:AMR) Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis purchased 15,000 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were acquired at an average price of $181.84 per share, with a total value of $2,727,600.00. Following the purchase, the director directly owned 856,537 shares in the company, valued at $155,752,688.08. This represents a 1.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alpha Metallurgical Resources Stock Down 0.9%

Alpha Metallurgical Resources stock opened at $187.84 on Friday. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -39.63 and a beta of 0.79. The firm’s fifty day moving average price is $202.47 and its two-hundred day moving average price is $179.96. Alpha Metallurgical Resources, Inc. has a 1-year low of $97.41 and a 1-year high of $253.82. The company has a current ratio of 4.47, a quick ratio of 3.53 and a debt-to-equity ratio of 0.01.

Alpha Metallurgical Resources (NYSE:AMR) last posted its earnings results on Friday, February 27th. The energy company reported ($1.34) EPS for the quarter, hitting the consensus estimate of ($1.34). Alpha Metallurgical Resources had a negative net margin of 2.90% and a negative return on equity of 3.88%. The company had revenue of $436.33 million during the quarter, compared to the consensus estimate of $538.45 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. On average, equities research analysts predict that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMR. State Street Corp lifted its position in shares of Alpha Metallurgical Resources by 27.2% during the 2nd quarter. State Street Corp now owns 865,934 shares of the energy company’s stock worth $97,400,000 after buying an additional 185,281 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Alpha Metallurgical Resources by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 683,572 shares of the energy company’s stock valued at $136,636,000 after acquiring an additional 15,348 shares in the last quarter. Continental General Insurance Co. increased its position in shares of Alpha Metallurgical Resources by 6.4% during the fourth quarter. Continental General Insurance Co. now owns 644,025 shares of the energy company’s stock valued at $128,728,000 after acquiring an additional 38,576 shares during the last quarter. Dalal Street LLC lifted its holdings in Alpha Metallurgical Resources by 2.1% during 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. Finally, Gendell Jeffrey L lifted its holdings in Alpha Metallurgical Resources by 4.0% during the fourth quarter. Gendell Jeffrey L now owns 494,072 shares of the energy company’s stock worth $98,755,000 after acquiring an additional 19,033 shares during the period. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AMR shares. Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Monday, December 29th. Jefferies Financial Group reiterated a “hold” rating and set a $185.00 price target on shares of Alpha Metallurgical Resources in a report on Monday, March 2nd. Zacks Research lowered Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 5th. Finally, Texas Capital cut Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $196.00.

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.