Alpha Metallurgical Resources (NYSE:AMR) Rating Lowered to Strong Sell at Zacks Research

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

Several other brokerages also recently weighed in on AMR. Weiss Ratings downgraded shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Jefferies Financial Group reiterated a “hold” rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 21st. Atlantic Securities set a $194.00 target price on Alpha Metallurgical Resources in a research report on Thursday, April 30th. UBS Group started coverage on shares of Alpha Metallurgical Resources in a research note on Friday, July 10th. They set a “neutral” rating and a $165.00 target price for the company. Finally, B. Riley Financial cut their price target on shares of Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, August 20th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Alpha Metallurgical Resources has an average rating of “Reduce” and a consensus price target of $176.00.

Alpha Metallurgical Resources Stock Performance

Alpha Metallurgical Resources stock opened at $226.84 on Thursday. The company’s 50-day moving average price is $162.65 and its 200-day moving average price is $181.49. Alpha Metallurgical Resources has a twelve month low of $133.64 and a twelve month high of $253.82. The company has a quick ratio of 2.37, a current ratio of 3.41 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.88 billion, a PE ratio of -63.36 and a beta of 0.65.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.01. The business had revenue of $421.29 million during the quarter, compared to analyst estimates of $521.61 million. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%.The company’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period last year, the company earned ($0.38) EPS. On average, equities research analysts forecast that Alpha Metallurgical Resources will post -2.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alpha Metallurgical Resources news, EVP Mark Matthew Manno sold 460 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $214.64, for a total transaction of $98,734.40. Following the transaction, the executive vice president directly owned 3,966 shares in the company, valued at $851,262.24. This trade represents a 10.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kenneth S. Courtis bought 15,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $193.50 per share, with a total value of $2,902,500.00. Following the completion of the transaction, the director owned 1,015,394 shares in the company, valued at $196,478,739. This represents a 1.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 30,000 shares of company stock worth $5,992,450 in the last ninety days. 18.20% of the stock is owned by company insiders.

Institutional Trading of Alpha Metallurgical Resources

A number of hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its holdings in Alpha Metallurgical Resources by 15,924.2% during the 2nd quarter. California State Teachers Retirement System now owns 2,121,128 shares of the energy company’s stock worth $349,859,000 after acquiring an additional 2,107,891 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Alpha Metallurgical Resources in the 2nd quarter valued at about $299,230,000. State Street Corp lifted its position in shares of 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 purchasing an additional 185,281 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Alpha Metallurgical Resources by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 721,872 shares of the energy company’s stock worth $148,192,000 after purchasing an additional 38,300 shares during the period. Finally, Continental General Insurance Co. boosted its stake in shares of Alpha Metallurgical Resources by 6.4% during the fourth quarter. Continental General Insurance Co. now owns 644,025 shares of the energy company’s stock valued at $128,728,000 after purchasing an additional 38,576 shares in the last quarter. 84.29% of the stock is owned by hedge funds and other 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.