Alpha Metallurgical Resources (NYSE:AMR) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of Alpha Metallurgical Resources (NYSE:AMR) from a hold rating to a strong sell rating in a research report sent to investors on Thursday,Zacks.com reports.

A number of other brokerages have also recently commented on AMR. B. Riley Securities reiterated a “neutral” rating and issued a $203.00 target price (down previously from $204.00) on shares of Alpha Metallurgical Resources in a research report on Wednesday. Texas Capital lowered Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Jefferies Financial Group increased their target price on Alpha Metallurgical Resources from $165.00 to $205.00 and gave the company a “hold” rating in a report on Tuesday, January 20th. B.Riley Securit lowered Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Monday, December 29th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $203.67.

Alpha Metallurgical Resources Trading Up 2.3%

Shares of Alpha Metallurgical Resources stock opened at $206.39 on Thursday. The firm has a market capitalization of $2.65 billion, a PE ratio of -57.97 and a beta of 0.78. Alpha Metallurgical Resources has a 12 month low of $97.41 and a 12 month high of $253.82. The business’s 50-day moving average price is $208.59 and its 200-day moving average price is $172.59.

Alpha Metallurgical Resources (NYSE:AMR) last issued its earnings results on Thursday, November 6th. The energy company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.07). The firm had revenue of $526.78 million during the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was down 21.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 EPS. As a group, analysts predict that Alpha Metallurgical Resources will post 14.31 earnings per share for the current fiscal year.

Insider Transactions at Alpha Metallurgical Resources

In other news, Director Michael Gorzynski bought 38,576 shares of the stock in a transaction dated Monday, December 15th. The stock was bought 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 trade represents a 6.37% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel E. Horn sold 8,125 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $188.32, for a total value of $1,530,100.00. Following the sale, the insider owned 4,989 shares in the company, valued at $939,528.48. This represents a 61.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders bought 98,576 shares of company stock valued at $17,994,174. Corporate insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Systrade AG bought a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at $55,966,000. Crocodile Capital Partners GmbH purchased a new stake in Alpha Metallurgical Resources during the 4th quarter valued at about $40,999,000. State Street Corp grew its position in Alpha Metallurgical Resources by 27.2% during the 2nd quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after purchasing an additional 185,281 shares during the last quarter. Contrarius Group Holdings Ltd bought a new stake in Alpha Metallurgical Resources during the 3rd quarter valued at about $12,146,000. Finally, Dalal Street LLC raised its holdings in Alpha Metallurgical Resources by 15.6% in the third quarter. Dalal Street LLC now owns 532,000 shares of the energy company’s stock worth $87,296,000 after buying an additional 71,673 shares during the last quarter. 84.29% of the stock is currently 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.