Alpha Metallurgical Resources (NYSE:AMR) Rating Increased to Hold at UBS Group

UBS Group upgraded shares of Alpha Metallurgical Resources (NYSE:AMR) to a hold rating in a research report sent to investors on Friday morning,Zacks.com reports.

Several other brokerages also recently issued reports on AMR. Weiss Ratings reiterated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Wednesday, June 24th. Atlantic Securities set a $194.00 target price on shares of Alpha Metallurgical Resources in a report on Thursday, April 30th. Finally, Zacks Research lowered Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $187.75.

Alpha Metallurgical Resources Stock Down 2.4%

AMR traded down $3.66 during trading on Friday, hitting $146.31. The company had a trading volume of 343,127 shares, compared to its average volume of 223,079. The company has a market cap of $1.86 billion, a PE ratio of -48.77 and a beta of 0.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.67 and a quick ratio of 2.81. Alpha Metallurgical Resources has a 1-year low of $113.00 and a 1-year high of $253.82. The business has a 50-day moving average of $182.46 and a 200-day moving average of $195.06.

Alpha Metallurgical Resources (NYSE:AMR) last issued its earnings results on Friday, May 8th. The energy company reported ($0.86) EPS for the quarter, hitting the consensus estimate of ($0.86). Alpha Metallurgical Resources had a negative return on equity of 2.47% and a negative net margin of 1.83%.The company had revenue of $447.32 million during the quarter, compared to analyst estimates of $535.15 million. During the same quarter last year, the firm earned ($2.60) EPS. The business’s revenue was down 1.3% on a year-over-year basis. As a group, analysts forecast that Alpha Metallurgical Resources will post 8.21 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kenneth S. Courtis bought 10,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was bought at an average price of $200.73 per share, with a total value of $2,007,300.00. Following the purchase, the director directly owned 985,394 shares of the company’s stock, valued at approximately $197,798,137.62. This represents a 1.03% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Jason E. Whitehead sold 3,901 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $212.28, for a total transaction of $828,104.28. Following the transaction, the chief operating officer owned 10,450 shares in the company, valued at approximately $2,218,326. This represents a 27.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in AMR. Dalal Street LLC increased its holdings in Alpha Metallurgical Resources by 2.1% in the fourth quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock worth $108,535,000 after buying an additional 11,000 shares during the last quarter. Kettle Hill Capital Management LLC acquired a new stake in Alpha Metallurgical Resources in the fourth quarter valued at approximately $4,823,000. Systrade AG acquired a new stake in Alpha Metallurgical Resources in the fourth quarter valued at approximately $55,966,000. Crocodile Capital Partners GmbH bought a new stake in Alpha Metallurgical Resources in the fourth quarter worth approximately $40,999,000. Finally, Cannell & Spears LLC acquired a new position in shares of Alpha Metallurgical Resources during the 3rd quarter worth $5,472,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

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.