Alpha Metallurgical Resources (NYSE:AMR) Stock Price Down 3.7% – Here’s Why

Alpha Metallurgical Resources, Inc. (NYSE:AMR) shares fell 3.7% on Friday . The stock traded as low as $209.32 and last traded at $209.6350. 26,231 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 285,698 shares. The stock had previously closed at $217.73.

Wall Street Analyst Weigh In

AMR has been the subject of a number of research reports. Zacks Research downgraded Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 27th. Wall Street Zen downgraded Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. UBS Group started coverage on Alpha Metallurgical Resources in a report on Friday, July 10th. They set a “neutral” rating and a $165.00 target price for the company. B. Riley Financial dropped their target price on shares of Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, August 20th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $160.00 price target on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $176.00.

Alpha Metallurgical Resources Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.41 and a quick ratio of 2.37. The company has a market cap of $2.72 billion, a PE ratio of -59.69 and a beta of 0.68. The company has a 50-day moving average price of $173.68 and a two-hundred day moving average price of $184.04.

Alpha Metallurgical Resources (NYSE:AMR) last announced its earnings results on Friday, August 7th. The energy company reported ($0.96) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.01. The business had revenue of $421.29 million for the quarter, compared to the consensus estimate 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 was down 10.4% on a year-over-year basis. During the same period last year, the business posted ($0.38) EPS. Sell-side analysts expect that Alpha Metallurgical Resources, Inc. will post -2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kenneth Courtis purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were purchased at an average price of $225.83 per share, with a total value of $2,258,300.00. Following the purchase, the director directly owned 1,035,394 shares of the company’s stock, valued at approximately $233,823,027.02. This represents a 0.98% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have acquired 35,000 shares of company stock worth $7,388,400. 18.20% of the stock is currently owned by company insiders.

Institutional Trading of Alpha Metallurgical Resources

Several large investors have recently modified their holdings of AMR. Tidal Investments LLC increased its position in shares of Alpha Metallurgical Resources by 10.2% during the second quarter. Tidal Investments LLC now owns 1,884 shares of the energy company’s stock worth $311,000 after acquiring an additional 174 shares during the last quarter. WINTON GROUP Ltd grew its stake in Alpha Metallurgical Resources by 97.4% during the 2nd quarter. WINTON GROUP Ltd now owns 1,940 shares of the energy company’s stock valued at $320,000 after purchasing an additional 957 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Alpha Metallurgical Resources during the 2nd quarter valued at approximately $3,728,000. Nykredit A S purchased a new stake in Alpha Metallurgical Resources during the 2nd quarter worth approximately $25,000. Finally, California State Teachers Retirement System increased 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 purchasing an additional 2,107,891 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Company Profile

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.