Alpha Metallurgical Resources (NYSE:AMR) Director Buys $1,082,650.00 in Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis acquired 5,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average cost of $216.53 per share, with a total value of $1,082,650.00. Following the completion of the purchase, the director owned 1,020,394 shares of the company’s stock, valued at approximately $220,945,912.82. The trade was a 0.49% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Alpha Metallurgical Resources Stock Performance

Alpha Metallurgical Resources stock opened at $228.60 on Friday. The company has a current ratio of 3.41, a quick ratio of 2.37 and a debt-to-equity ratio of 0.01. The firm has a market cap of $2.90 billion, a P/E ratio of -63.85 and a beta of 0.65. Alpha Metallurgical Resources, Inc. has a 1-year low of $133.64 and a 1-year high of $253.82. The firm has a 50-day moving average of $161.84 and a 200-day moving average of $181.17.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. The company had revenue of $421.29 million for the quarter, compared to the consensus estimate of $521.61 million. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%.Alpha Metallurgical Resources’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.38) EPS. Sell-side analysts expect that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AMR shares. Weiss Ratings cut Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Zacks Research upgraded shares of Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. UBS Group assumed coverage on shares of Alpha Metallurgical Resources in a report on Friday, July 10th. They issued a “neutral” rating and a $165.00 price target on the stock. B. Riley Financial reduced their price objective on shares of Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, August 20th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $160.00 price objective on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Alpha Metallurgical Resources has a consensus rating of “Reduce” and a consensus target price of $176.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System raised its position in shares of Alpha Metallurgical Resources by 15,924.2% in the 2nd 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 in the last quarter. BlackRock Inc. bought a new stake in shares of Alpha Metallurgical Resources during the second quarter valued at approximately $299,230,000. State Street Corp boosted its position in shares of Alpha Metallurgical Resources by 27.2% during the second quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after purchasing an additional 185,281 shares in the last quarter. Goehring & Rozencwajg Associates LLC boosted its position in shares of Alpha Metallurgical Resources by 206.8% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company’s stock valued at $49,683,000 after purchasing an additional 163,144 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Alpha Metallurgical Resources by 208.0% in the first quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock worth $13,290,000 after purchasing an additional 71,653 shares during the period. Hedge funds and other institutional investors 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.