Alpha Metallurgical Resources (NYSE:AMR) Shares Up 12.3% – Should You Buy?

Alpha Metallurgical Resources, Inc. (NYSE:AMR) shot up 12.3% on Wednesday . The stock traded as high as $185.88 and last traded at $190.31. 154,334 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 278,572 shares. The stock had previously closed at $169.44.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMR. B. Riley Financial reduced their target price on Alpha Metallurgical Resources from $194.00 to $189.00 and set a “neutral” rating on the stock in a report on Tuesday, July 28th. UBS Group began coverage on Alpha Metallurgical Resources in a research note on Friday, July 10th. They issued a “neutral” rating and a $165.00 price target for the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price objective on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Atlantic Securities set a $194.00 price objective on shares of Alpha Metallurgical Resources in a research note on Thursday, April 30th. Finally, Zacks Research raised shares of Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $177.00.

Alpha Metallurgical Resources Trading Up 11.4%

The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of -52.61 and a beta of 0.65. 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 business’s 50 day moving average price is $159.27 and its two-hundred day moving average price is $181.09.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. The business had revenue of $421.29 million during the quarter, compared to analysts’ expectations of $521.61 million. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.38) EPS. On average, equities analysts predict that Alpha Metallurgical Resources, Inc. will post 0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kenneth S. Courtis purchased 10,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was bought at an average cost of $200.73 per share, for a total transaction of $2,007,300.00. Following the purchase, the director owned 985,394 shares of the company’s stock, valued at approximately $197,798,137.62. The trade was a 1.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Matthew Manno sold 460 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $214.64, for a total value of $98,734.40. Following the sale, the executive vice president directly owned 3,966 shares in the company, valued at approximately $851,262.24. This trade represents a 10.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of institutional investors and hedge funds have recently bought and sold shares of AMR. First Citizens Bank & Trust Co. increased its position in Alpha Metallurgical Resources by 1.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 4,058 shares of the energy company’s stock worth $811,000 after buying an additional 72 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Alpha Metallurgical Resources by 3.3% in the fourth quarter. ProShare Advisors LLC now owns 2,266 shares of the energy company’s stock valued at $453,000 after buying an additional 73 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Alpha Metallurgical Resources by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,256 shares of the energy company’s stock valued at $704,000 after buying an additional 76 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Alpha Metallurgical Resources by 2.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,907 shares of the energy company’s stock valued at $781,000 after buying an additional 78 shares during the last quarter. Finally, Virtus Advisers LLC grew its stake in shares of Alpha Metallurgical Resources by 2.8% during the 4th quarter. Virtus Advisers LLC now owns 3,443 shares of the energy company’s stock worth $688,000 after acquiring an additional 93 shares during the period. Institutional investors and hedge funds 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.