Alpha Metallurgical Resources (NYSE:AMR) Shares Up 4.5% on Insider Buying Activity

Alpha Metallurgical Resources, Inc. (NYSE:AMR) rose 4.5% during trading on Monday following insider buying activity. The stock traded as high as $236.00 and last traded at $236.4820. Approximately 22,379 shares were traded during trading, a decline of 92% from the average daily volume of 285,032 shares. The stock had previously closed at $226.23.

Specifically, Director Kenneth S. Courtis acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average price of $228.99 per share, with a total value of $1,144,950.00. Following the completion of the acquisition, the director directly owned 1,025,394 shares of the company’s stock, valued at approximately $234,804,972.06. The trade was a 0.49% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth S. Courtis bought 5,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was purchased at an average cost of $216.53 per share, for a total transaction of $1,082,650.00. Following the acquisition, the director owned 1,020,394 shares of the company’s stock, valued at $220,945,912.82. This trade represents a 0.49% increase in their position. The SEC filing for this purchase provides additional information.

Analysts Set New Price Targets

AMR has been the topic of several research reports. Jefferies Financial Group reissued a “hold” rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Zacks Research cut shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 27th. Wall Street Zen downgraded shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings lowered shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Finally, UBS Group initiated coverage on shares of Alpha Metallurgical Resources in a research report on Friday, July 10th. They set a “neutral” rating and a $165.00 target price for the company. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Alpha Metallurgical Resources presently has a consensus rating of “Reduce” and an average target price of $176.00.

Alpha Metallurgical Resources Stock Performance

The firm has a market capitalization of $2.95 billion, a PE ratio of -65.01 and a beta of 0.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 3.41. The business’s fifty day simple moving average is $165.19 and its 200-day simple moving average is $181.96.

Alpha Metallurgical Resources (NYSE:AMR) last released its earnings results on Friday, August 7th. The energy company reported ($0.96) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.01. The firm had revenue of $421.29 million for the quarter, compared to the consensus estimate 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 company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.38) earnings per share. As a group, equities research analysts expect that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System increased its stake in Alpha Metallurgical Resources by 15,924.2% during the second 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 during the last quarter. BlackRock Inc. bought a new stake in shares of Alpha Metallurgical Resources in the 2nd quarter valued at approximately $299,230,000. State Street Corp boosted its holdings 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 increased its position in shares of Alpha Metallurgical Resources by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 721,872 shares of the energy company’s stock valued at $148,192,000 after purchasing an additional 38,300 shares during the last quarter. Finally, Continental General Insurance Co. increased its position in shares of Alpha Metallurgical Resources by 6.4% during the 4th 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 during 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.