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

Alpha Metallurgical Resources (NYSE:AMR) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, Zacks reports.

Other research analysts have also issued research reports about the company. UBS Group increased their price objective on Alpha Metallurgical Resources from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. Wall Street Zen downgraded Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings lowered Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. B. Riley Financial decreased their target price on Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, August 20th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 target price on shares of Alpha Metallurgical Resources in a research 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $179.75.

Alpha Metallurgical Resources Price Performance

NYSE AMR opened at $158.23 on Monday. Alpha Metallurgical Resources has a fifty-two week low of $133.64 and a fifty-two week high of $253.82. The stock’s 50-day moving average is $190.37 and its two-hundred day moving average is $181.64. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.41 and a quick ratio of 2.37. The firm has a market cap of $2.01 billion, a P/E ratio of -44.20 and a beta of 0.85.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share 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 during the quarter, compared to analysts’ expectations of $521.61 million. During the same quarter in the previous year, the firm earned ($0.38) earnings per share. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, analysts anticipate that Alpha Metallurgical Resources will post -2.40 earnings per share for the current fiscal year.

Insider Transactions at Alpha Metallurgical Resources

In other news, Director Kenneth Courtis bought 15,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average cost of $193.50 per share, for a total transaction of $2,902,500.00. Following the purchase, the director owned 1,015,394 shares of the company’s stock, valued at $196,478,739. This represents a 1.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have acquired 35,000 shares of company stock valued at $7,388,400. Company insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Nykredit A S bought a new stake in Alpha Metallurgical Resources during the second quarter valued at about $25,000. Leonteq Securities AG acquired a new stake in shares of Alpha Metallurgical Resources in the first quarter valued at about $37,000. Meeder Asset Management Inc. acquired a new stake in shares of Alpha Metallurgical Resources in the second quarter valued at about $49,000. Freestone Grove Partners LP acquired a new stake in shares of Alpha Metallurgical Resources in the second quarter valued at about $76,000. Finally, Pinnacle Holdings LLC bought a new position in shares of Alpha Metallurgical Resources in the second quarter worth about $112,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc is a mining company focused primarily on the production and sale of metallurgical coal. Its coal is used by steelmakers and coke producers in the manufacturing of steel, with additional sales of thermal coal for power generation. The company serves domestic and international customers through a network of mines and related operations.

Alpha operates principally in the Central Appalachian region, with mining assets in West Virginia and Virginia. Its activities include underground and surface mining, coal preparation, processing, and transportation.