Alpha Metallurgical Resources (NYSE:AMR) Stock Price Down 6.4% – Time to Sell?

Alpha Metallurgical Resources, Inc. (NYSE:AMR) traded down 6.4% on Tuesday . The stock traded as low as $190.08 and last traded at $190.3620. 303,579 shares traded hands during trading, an increase of 14% from the average session volume of 265,373 shares. The stock had previously closed at $203.46.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMR. B.Riley Securit downgraded Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Jefferies Financial Group lifted their target price on Alpha Metallurgical Resources from $165.00 to $205.00 and gave the company a “hold” rating in a research note on Tuesday, January 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Monday, December 29th. B. Riley Financial cut shares of Alpha Metallurgical Resources from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $204.00 to $203.00 in a report on Wednesday, February 4th. Finally, Zacks Research lowered shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 5th. Five 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, Alpha Metallurgical Resources presently has an average rating of “Reduce” and an average price target of $203.67.

Alpha Metallurgical Resources Price Performance

The company has a fifty day simple moving average of $209.57 and a two-hundred day simple moving average of $173.52. The company has a market capitalization of $2.44 billion, a P/E ratio of -53.26 and a beta of 0.78.

Insider Activity

In other news, Director Michael Gorzynski acquired 38,576 shares of Alpha Metallurgical Resources stock in a transaction dated Monday, December 15th. The stock was acquired at an average cost of $188.50 per share, for a total transaction of $7,271,576.00. Following the completion of the purchase, the director owned 644,025 shares of the company’s stock, valued at $121,398,712.50. This represents a 6.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kenneth S. Courtis bought 36,000 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was purchased at an average price of $175.26 per share, for a total transaction of $6,309,360.00. Following the completion of the purchase, the director directly owned 770,537 shares in the company, valued at $135,044,314.62. The trade was a 4.90% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 98,576 shares of company stock valued at $17,994,174 over the last 90 days. 16.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Large investors have recently made changes to their positions in the business. ProShare Advisors LLC increased its position in Alpha Metallurgical Resources by 3.3% in the 4th quarter. ProShare Advisors LLC now owns 2,266 shares of the energy company’s stock worth $453,000 after buying an additional 73 shares during the period. Mainstay Capital Management LLC ADV grew its position in Alpha Metallurgical Resources by 5.9% in the 4th quarter. Mainstay Capital Management LLC ADV now owns 1,326 shares of the energy company’s stock worth $265,000 after purchasing an additional 74 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Alpha Metallurgical Resources by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,256 shares of the energy company’s stock worth $704,000 after purchasing an additional 76 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Alpha Metallurgical Resources by 2.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,907 shares of the energy company’s stock worth $781,000 after purchasing an additional 78 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Alpha Metallurgical Resources by 26.5% during the third quarter. GAMMA Investing LLC now owns 391 shares of the energy company’s stock valued at $64,000 after buying an additional 82 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.