Insider Buying: Alpha Metallurgical Resources (NYSE:AMR) Director Acquires 10,000 Shares of Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis acquired 10,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were purchased at an average price of $200.73 per share, with a total value of $2,007,300.00. Following the transaction, the director owned 985,394 shares of the company’s stock, valued at approximately $197,798,137.62. This represents a 1.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Alpha Metallurgical Resources Trading Down 1.5%

AMR traded down $2.94 on Tuesday, hitting $187.35. The company had a trading volume of 156,614 shares, compared to its average volume of 250,607. The company has a market cap of $2.38 billion, a PE ratio of -62.45 and a beta of 0.62. Alpha Metallurgical Resources, Inc. has a 12-month low of $97.41 and a 12-month high of $253.82. The company has a quick ratio of 2.81, a current ratio of 3.67 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $193.55 and its 200 day simple moving average is $197.22.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings results on Friday, May 8th. The energy company reported ($0.86) EPS for the quarter, hitting the consensus estimate of ($0.86). The company had revenue of $447.32 million during the quarter, compared to analyst estimates of $535.15 million. Alpha Metallurgical Resources had a negative return on equity of 2.47% and a negative net margin of 1.83%.The firm’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted ($2.60) earnings per share. Equities research analysts expect that Alpha Metallurgical Resources, Inc. will post 11.98 EPS for the current year.

Institutional Trading of Alpha Metallurgical Resources

Several hedge funds have recently made changes to their positions in the company. State Street Corp grew its stake 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 valued at $97,400,000 after buying an additional 185,281 shares during the period. Dimensional Fund Advisors LP grew its stake 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 valued at $148,192,000 after buying an additional 38,300 shares during the period. Continental General Insurance Co. grew its stake in shares of Alpha Metallurgical Resources by 6.4% in the 4th quarter. Continental General Insurance Co. now owns 644,025 shares of the energy company’s stock valued at $128,728,000 after buying an additional 38,576 shares during the period. Dalal Street LLC grew its stake in shares of Alpha Metallurgical Resources by 2.1% in the 4th quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock valued at $108,535,000 after buying an additional 11,000 shares during the period. Finally, Gendell Jeffrey L grew its stake in shares of Alpha Metallurgical Resources by 4.0% in the 4th quarter. Gendell Jeffrey L now owns 494,072 shares of the energy company’s stock valued at $98,755,000 after buying an additional 19,033 shares during the period. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. Atlantic Securities set a $194.00 price target on shares of Alpha Metallurgical Resources in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research note on Friday, March 27th. Jefferies Financial Group reaffirmed a “hold” rating and set a $185.00 price objective on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. Finally, Zacks Research cut shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $195.33.

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.