Alpha Metallurgical Resources (NYSE:AMR) Lowered to Hold Rating by Texas Capital

Alpha Metallurgical Resources (NYSE:AMR) was downgraded by stock analysts at Texas Capital from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on AMR. Weiss Ratings reissued a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Monday, December 29th. Jefferies Financial Group boosted their price objective on Alpha Metallurgical Resources from $165.00 to $205.00 and gave the company a “hold” rating in a research report on Tuesday, January 20th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Alpha Metallurgical Resources has an average rating of “Hold” and a consensus price target of $188.00.

Alpha Metallurgical Resources Stock Up 2.4%

Shares of NYSE AMR opened at $220.93 on Thursday. Alpha Metallurgical Resources has a 12 month low of $97.41 and a 12 month high of $253.82. The company has a market cap of $2.84 billion, a P/E ratio of -62.06 and a beta of 0.79. The business’s 50 day moving average is $202.84 and its two-hundred day moving average is $168.99.

Alpha Metallurgical Resources (NYSE:AMR) last announced its earnings results on Thursday, November 6th. The energy company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.07). The company had revenue of $526.78 million for the quarter, compared to the consensus estimate of $543.77 million. Alpha Metallurgical Resources had a negative return on equity of 2.88% and a negative net margin of 2.09%.The company’s revenue was down 21.6% compared to the same quarter last year. During the same period last year, the firm posted $0.29 EPS. Sell-side analysts expect that Alpha Metallurgical Resources will post 14.31 earnings per share for the current fiscal year.

Insider Transactions at Alpha Metallurgical Resources

In related news, Director Kenneth S. Courtis acquired 36,000 shares of the business’s stock in a transaction on Monday, December 8th. The stock was bought at an average cost of $175.26 per share, with a total value of $6,309,360.00. Following the completion of the acquisition, the director owned 770,537 shares in the company, valued at $135,044,314.62. The trade was a 4.90% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Gorzynski bought 38,576 shares of Alpha Metallurgical Resources stock in a transaction dated Monday, December 15th. The stock was purchased at an average price of $188.50 per share, for a total transaction of $7,271,576.00. Following the purchase, the director directly owned 644,025 shares in the company, valued at $121,398,712.50. This represents a 6.37% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 98,576 shares of company stock valued at $17,994,174. Corporate insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in Alpha Metallurgical Resources by 27.2% in the second 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 in the last quarter. Dalal Street LLC grew its position in Alpha Metallurgical Resources by 15.6% during the 3rd quarter. Dalal Street LLC now owns 532,000 shares of the energy company’s stock worth $87,296,000 after acquiring an additional 71,673 shares during the last quarter. American Century Companies Inc. increased its holdings in Alpha Metallurgical Resources by 5.6% during the 3rd quarter. American Century Companies Inc. now owns 416,577 shares of the energy company’s stock valued at $68,356,000 after purchasing an additional 22,243 shares in the last quarter. Gendell Jeffrey L raised its position in Alpha Metallurgical Resources by 30.9% in the 2nd quarter. Gendell Jeffrey L now owns 296,396 shares of the energy company’s stock valued at $33,339,000 after purchasing an additional 69,950 shares during the last quarter. Finally, Systrade AG acquired a new position in Alpha Metallurgical Resources in the fourth quarter worth $55,966,000. 84.29% of the stock is owned by 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.