Kenneth Courtis Acquires 10,000 Shares of Alpha Metallurgical Resources (NYSE:AMR) Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was purchased at an average cost of $186.87 per share, with a total value of $1,868,700.00. Following the completion of the transaction, the director owned 866,537 shares in the company, valued at $161,929,769.19. The trade was a 1.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Alpha Metallurgical Resources Stock Down 0.9%

Shares of Alpha Metallurgical Resources stock opened at $187.84 on Friday. The business has a 50-day moving average of $202.47 and a 200-day moving average of $180.20. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.47 and a quick ratio of 3.53. The company has a market capitalization of $2.40 billion, a PE ratio of -39.63 and a beta of 0.79. Alpha Metallurgical Resources, Inc. has a 1-year low of $97.41 and a 1-year high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last announced its earnings results on Friday, February 27th. The energy company reported ($1.34) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.34). Alpha Metallurgical Resources had a negative return on equity of 3.88% and a negative net margin of 2.90%.The business had revenue of $436.33 million for the quarter, compared to analyst estimates of $538.45 million. During the same period in the previous year, the company earned ($0.16) earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, equities analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on AMR shares. Texas Capital downgraded Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Monday, December 29th. Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. Zacks Research cut shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, February 5th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $185.00 price objective on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. 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 a consensus rating of “Reduce” and a consensus target price of $196.00.

Institutional Trading of Alpha Metallurgical Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in Alpha Metallurgical Resources by 55.0% during the first quarter. Royal Bank of Canada now owns 2,029 shares of the energy company’s stock valued at $254,000 after buying an additional 720 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Alpha Metallurgical Resources by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,548 shares of the energy company’s stock worth $820,000 after buying an additional 295 shares during the last quarter. Millennium Management LLC grew its position in shares of Alpha Metallurgical Resources by 208.0% in the 1st quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock worth $13,290,000 after acquiring an additional 71,653 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Alpha Metallurgical Resources by 48.3% in the 1st quarter. Intech Investment Management LLC now owns 13,149 shares of the energy company’s stock valued at $1,647,000 after acquiring an additional 4,281 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Alpha Metallurgical Resources in the 2nd quarter valued at approximately $391,000. 84.29% of the stock is owned by institutional investors.

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.