B.Riley Securit Downgrades Alpha Metallurgical Resources (NYSE:AMR) to Hold

Alpha Metallurgical Resources (NYSE:AMR) was downgraded by B.Riley Securit from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. B. Riley Securities reiterated a “neutral” rating and issued a $203.00 price target (down previously from $204.00) on shares of Alpha Metallurgical Resources in a research report on Wednesday. Jefferies Financial Group boosted their target price on Alpha Metallurgical Resources from $165.00 to $205.00 and gave the company a “hold” rating in a research report on Tuesday, January 20th. Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Monday, December 29th. Texas Capital lowered shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Finally, B. Riley Financial cut shares of Alpha Metallurgical Resources from a “buy” rating to a “neutral” rating and cut their price objective for the company from $204.00 to $203.00 in a research report on Wednesday. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $203.67.

Alpha Metallurgical Resources Stock Up 2.3%

Shares of AMR stock traded up $4.63 during trading hours on Wednesday, hitting $206.39. 194,400 shares of the company’s stock traded hands, compared to its average volume of 265,972. The stock’s fifty day simple moving average is $207.64 and its two-hundred day simple moving average is $172.03. Alpha Metallurgical Resources has a 12-month low of $97.41 and a 12-month high of $253.82. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -57.97 and a beta of 0.78.

Alpha Metallurgical Resources (NYSE:AMR) last issued its earnings results on Thursday, November 6th. The energy company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.07). Alpha Metallurgical Resources had a negative return on equity of 2.88% and a negative net margin of 2.09%.The firm had revenue of $526.78 million during the quarter, compared to analysts’ expectations of $543.77 million. During the same period last year, the firm posted $0.29 earnings per share. The firm’s quarterly revenue was down 21.6% on a year-over-year basis. On average, equities analysts forecast that Alpha Metallurgical Resources will post 14.31 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Michael Gorzynski bought 38,576 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was purchased at an average cost of $188.50 per share, for a total transaction of $7,271,576.00. Following the purchase, the director directly owned 644,025 shares in the company, valued at approximately $121,398,712.50. This trade represents a 6.37% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth S. Courtis purchased 9,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was acquired at an average price of $188.16 per share, with a total value of $1,693,440.00. Following the purchase, the director owned 816,537 shares in the company, valued at $153,639,601.92. This represents a 1.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 98,576 shares of company stock valued at $17,994,174 over the last ninety days. 16.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. acquired a new position in shares of Alpha Metallurgical Resources in the third quarter valued at approximately $25,000. Hantz Financial Services Inc. grew its stake in shares of Alpha Metallurgical Resources by 361.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 240 shares of the energy company’s stock valued at $39,000 after buying an additional 188 shares during the period. CWM LLC grew its position in Alpha Metallurgical Resources by 146.0% during the third quarter. CWM LLC now owns 246 shares of the energy company’s stock valued at $40,000 after acquiring an additional 146 shares during the period. Farther Finance Advisors LLC increased its position in Alpha Metallurgical Resources by 48.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 265 shares of the energy company’s stock worth $43,000 after purchasing an additional 87 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Alpha Metallurgical Resources by 85.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 380 shares of the energy company’s stock valued at $62,000 after acquiring an additional 175 shares in the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

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.