Alpha Metallurgical Resources (NYSE:AMR) Director Buys $2,258,300.00 in Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were bought 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 in the company, valued at $233,823,027.02. This trade represents a 0.98% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Alpha Metallurgical Resources Stock Down 4.1%

Alpha Metallurgical Resources stock opened at $217.74 on Friday. The company has a market capitalization of $2.76 billion, a PE ratio of -60.82 and a beta of 0.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 3.41. Alpha Metallurgical Resources, Inc. has a fifty-two week low of $133.64 and a fifty-two week high of $253.82. The firm has a 50 day moving average price of $173.68 and a 200 day moving average price of $184.04.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings results 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 return on equity of 2.99% and a negative net margin of 2.23%.The company had revenue of $421.29 million for the quarter, compared to analysts’ expectations of $521.61 million. During the same period in the prior year, the firm earned ($0.38) earnings per share. The firm’s revenue was down 10.4% compared to the same quarter last year. Research analysts expect that Alpha Metallurgical Resources, Inc. will post -2.4 earnings per share for the current year.

Institutional Investors Weigh In On Alpha Metallurgical Resources

A number of hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC boosted its stake in shares of Alpha Metallurgical Resources by 10.2% in the 2nd quarter. Tidal Investments LLC now owns 1,884 shares of the energy company’s stock valued at $311,000 after buying an additional 174 shares during the period. WINTON GROUP Ltd increased its stake in shares of Alpha Metallurgical Resources by 97.4% during the second quarter. WINTON GROUP Ltd now owns 1,940 shares of the energy company’s stock worth $320,000 after buying an additional 957 shares during the period. Squarepoint Ops LLC acquired a new stake in Alpha Metallurgical Resources in the second quarter valued at approximately $3,728,000. Nykredit A S acquired a new stake in Alpha Metallurgical Resources in the second quarter valued at approximately $25,000. Finally, California State Teachers Retirement System lifted its stake in Alpha Metallurgical Resources by 15,924.2% in the second quarter. California State Teachers Retirement System now owns 2,121,128 shares of the energy company’s stock worth $349,859,000 after acquiring an additional 2,107,891 shares during the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group began coverage on Alpha Metallurgical Resources in a report on Friday, July 10th. They set a “neutral” rating and a $165.00 target price for the company. B. Riley Financial cut their price target on shares of Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, August 20th. Wall Street Zen cut shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Jefferies Financial Group reissued a “hold” rating and issued a $160.00 price objective on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 21st. Finally, Weiss Ratings cut shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $176.00.

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.