Alpha Metallurgical Resources (NYSE:AMR) Director Kenneth Courtis Acquires 8,000 Shares of Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis acquired 8,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of $191.07 per share, with a total value of $1,528,560.00. Following the completion of the acquisition, the director directly owned 874,537 shares in the company, valued at approximately $167,097,784.59. This represents a 0.92% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Alpha Metallurgical Resources Stock Down 2.5%

AMR stock opened at $193.86 on Friday. The firm has a market capitalization of $2.48 billion, a PE ratio of -40.90 and a beta of 0.79. The company has a quick ratio of 3.53, a current ratio of 4.47 and a debt-to-equity ratio of 0.01. Alpha Metallurgical Resources, Inc. has a twelve month low of $97.41 and a twelve month high of $253.82. The stock’s 50 day moving average is $199.57 and its 200-day moving average is $181.56.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings results on Friday, February 27th. The energy company reported ($1.34) EPS for the quarter, meeting analysts’ consensus estimates of ($1.34). The business had revenue of $436.33 million during the quarter, compared to analyst estimates of $538.45 million. Alpha Metallurgical Resources had a negative return on equity of 3.88% and a negative net margin of 2.90%.Alpha Metallurgical Resources’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.16) EPS. Sell-side analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Texas Capital downgraded shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Zacks Research lowered Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, February 5th. Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research note on Monday, December 29th. Jefferies Financial Group reaffirmed a “hold” rating and set a $185.00 target price on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Finally, B. Riley Financial lifted their target price on Alpha Metallurgical Resources from $203.00 to $207.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $196.00.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Institutional investors and hedge funds have recently bought and sold shares of the company. Systrade AG bought a new stake in shares of Alpha Metallurgical Resources in the fourth quarter valued at $55,966,000. Crocodile Capital Partners GmbH purchased a new stake in Alpha Metallurgical Resources in the 4th quarter worth about $40,999,000. State Street Corp increased its holdings in Alpha Metallurgical Resources by 27.2% in the 2nd quarter. State Street Corp now owns 865,934 shares of the energy company’s stock worth $97,400,000 after acquiring an additional 185,281 shares during the last quarter. Contrarius Group Holdings Ltd bought a new stake in Alpha Metallurgical Resources in the 3rd quarter valued at about $12,146,000. Finally, Dalal Street LLC lifted its holdings in Alpha Metallurgical Resources by 15.6% during the third quarter. Dalal Street LLC now owns 532,000 shares of the energy company’s stock valued at $87,296,000 after purchasing an additional 71,673 shares during the last quarter. 84.29% of the stock is owned by institutional investors.

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.