Alpha Metallurgical Resources (NYSE:AMR) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Alpha Metallurgical Resources (NYSE:AMR) from a sell rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other equities analysts have also recently commented on AMR. Zacks Research upgraded Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a report on Monday, October 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alpha Metallurgical Resources in a research note on Wednesday, November 4th. B. Riley Financial cut their price target on shares of Alpha Metallurgical Resources from $185.00 to $178.00 and set a “neutral” rating on the stock in a research note on Monday, October 26th. UBS Group increased their price target on shares of Alpha Metallurgical Resources from $160.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, October 8th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $160.00 price objective on shares of Alpha Metallurgical Resources in a research note 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. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $178.00.

Alpha Metallurgical Resources Stock Performance

Shares of AMR traded down $1.31 during midday trading on Friday, hitting $154.10. 168,280 shares of the stock were exchanged, compared to its average volume of 247,095. Alpha Metallurgical Resources has a 52-week low of $133.64 and a 52-week high of $253.82. The stock has a fifty day simple moving average of $173.58 and a 200 day simple moving average of $181.55. The firm has a market cap of $1.95 billion, a P/E ratio of -39.62 and a beta of 0.79.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings data on Friday, November 6th. The energy company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.09). The firm had revenue of $562.25 million during the quarter, compared to analyst estimates of $558.84 million. Alpha Metallurgical Resources had a negative net margin of 2.37% and a negative return on equity of 3.29%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.42) earnings per share. As a group, equities research analysts forecast that Alpha Metallurgical Resources will post -1.99 EPS for the current fiscal year.

Insider Buying and Selling at Alpha Metallurgical Resources

In related news, Director Kenneth Courtis acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were acquired at an average price of $225.83 per share, with a total value of $2,258,300.00. Following the completion of the transaction, the director owned 1,035,394 shares of the company’s stock, valued at $233,823,027.02. The trade was a 0.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 35,000 shares of company stock worth $7,388,400 over the last 90 days. 18.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE acquired a new stake in Alpha Metallurgical Resources in the second quarter valued at approximately $8,763,000. Squarepoint Ops LLC purchased a new position in Alpha Metallurgical Resources in the second quarter worth approximately $3,728,000. NWF Advisory Services Inc. grew its holdings in Alpha Metallurgical Resources by 46.5% during the 2nd quarter. NWF Advisory Services Inc. now owns 57,925 shares of the energy company’s stock worth $9,554,000 after acquiring an additional 18,390 shares in the last quarter. Cibc World Market Inc. acquired a new position in Alpha Metallurgical Resources during the 2nd quarter worth approximately $1,741,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Alpha Metallurgical Resources in the 2nd quarter valued at approximately $8,983,000. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc. is a U.S. coal producer focused primarily on metallurgical coal, a key input used to make steel. The company also produces thermal coal, which is used in electricity generation. Its mining operations are concentrated in Virginia and West Virginia, in the Central Appalachian coal region. Alpha sells coal to domestic and international customers, including steelmakers and power producers. The company operated as Contura Energy before adopting the Alpha Metallurgical Resources name in 2021, reflecting its emphasis on metallurgical coal and steelmaking markets.