Alpha Metallurgical Resources (NYSE:AMR) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Alpha Metallurgical Resources (NYSE:AMR) from a strong sell rating to a hold rating in a research note published on Monday,Zacks.com reports.

AMR has been the topic of several other reports. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday, March 2nd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $185.00 price target on shares of Alpha Metallurgical Resources in a report on Monday, March 2nd. Texas Capital lowered shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Friday, March 27th. Finally, B. Riley Financial upped their price target on shares of Alpha Metallurgical Resources from $203.00 to $207.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alpha Metallurgical Resources currently has an average rating of “Reduce” and a consensus price target of $196.00.

Alpha Metallurgical Resources Price Performance

NYSE AMR opened at $202.92 on Monday. The firm’s fifty day simple moving average is $193.27 and its two-hundred day simple moving average is $187.30. 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 has a 12-month low of $97.41 and a 12-month high of $253.82. The firm has a market capitalization of $2.59 billion, a P/E ratio of -42.81 and a beta of 0.73.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings results on Friday, February 27th. The energy company reported ($1.34) earnings per share (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 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 business’s revenue for the quarter was down 15.7% on a year-over-year basis. Analysts forecast that Alpha Metallurgical Resources will post 14.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kenneth S. Courtis purchased 25,000 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Monday, March 9th. The stock was purchased at an average price of $176.23 per share, for a total transaction of $4,405,750.00. Following the transaction, the director directly owned 841,537 shares in the company, valued at approximately $148,304,065.51. This trade represents a 3.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Joshua Todd Munsey sold 2,523 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $183.24, for a total transaction of $462,314.52. Following the transaction, the chief financial officer owned 4,735 shares of the company’s stock, valued at approximately $867,641.40. This trade represents a 34.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders purchased a total of 58,000 shares of company stock worth $10,530,610 in the last 90 days. Insiders own 16.00% of the company’s stock.

Institutional Trading of Alpha Metallurgical Resources

Hedge funds have recently bought and sold shares of the business. Investment House LLC raised its holdings in Alpha Metallurgical Resources by 112.4% in the 3rd quarter. Investment House LLC now owns 12,341 shares of the energy company’s stock valued at $2,025,000 after acquiring an additional 6,531 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in Alpha Metallurgical Resources by 83.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 20,719 shares of the energy company’s stock valued at $3,400,000 after acquiring an additional 9,412 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Alpha Metallurgical Resources by 21.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 91,732 shares of the energy company’s stock valued at $15,052,000 after acquiring an additional 16,295 shares during the last quarter. Contrarius Group Holdings Ltd acquired a new stake in Alpha Metallurgical Resources in the 3rd quarter valued at about $12,146,000. Finally, Systrade AG acquired a new stake in Alpha Metallurgical Resources in the 4th quarter valued at about $55,966,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

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.