Alpha Metallurgical Resources (NYSE:AMR) Shares Gap Down – Time to Sell?

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $193.43, but opened at $178.93. Alpha Metallurgical Resources shares last traded at $195.8680, with a volume of 28,184 shares traded.

Analyst Upgrades and Downgrades

AMR has been the subject of a number of recent analyst reports. Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday, March 2nd. Texas Capital cut shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Zacks Research cut shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday. B. Riley Financial upped their price target on shares of Alpha Metallurgical Resources from $203.00 to $207.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Finally, Jefferies Financial Group restated a “hold” rating and set a $185.00 price target on shares of Alpha Metallurgical Resources in a report on Monday, March 2nd. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $195.33.

Alpha Metallurgical Resources Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 4.47 and a quick ratio of 3.53. The stock’s fifty day simple moving average is $193.08 and its 200-day simple moving average is $191.49. The company has a market capitalization of $2.49 billion, a P/E ratio of -41.31 and a beta of 0.60.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings results on Friday, May 8th. The energy company reported ($0.86) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.86). Alpha Metallurgical Resources had a negative net margin of 2.90% and a negative return on equity of 3.88%. The company had revenue of $447.32 million during the quarter, compared to analysts’ expectations of $535.15 million. During the same period in the prior year, the company earned ($2.60) earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities analysts forecast that Alpha Metallurgical Resources, Inc. will post 11.98 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Daniel E. Horn sold 971 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $170.05, for a total transaction of $165,118.55. Following the completion of the transaction, the insider owned 7,320 shares of the company’s stock, valued at approximately $1,244,766. This represents a 11.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joshua Todd Munsey sold 2,523 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $183.24, for a total transaction of $462,314.52. Following the transaction, the chief financial officer directly owned 4,735 shares of the company’s stock, valued at $867,641.40. This represents a 34.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders purchased 58,000 shares of company stock valued at $10,530,610. Insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. First Citizens Bank & Trust Co. raised its position in shares of Alpha Metallurgical Resources by 1.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 4,058 shares of the energy company’s stock valued at $811,000 after buying an additional 72 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Alpha Metallurgical Resources by 3.3% during 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 last quarter. Mainstay Capital Management LLC ADV raised its position in shares of Alpha Metallurgical Resources by 5.9% during the fourth quarter. Mainstay Capital Management LLC ADV now owns 1,326 shares of the energy company’s stock valued at $265,000 after buying an additional 74 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Alpha Metallurgical Resources by 1.2% during the second 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. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Alpha Metallurgical Resources by 2.0% during the fourth 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. 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.