Alpha Metallurgical Resources (NYSE:AMR) Trading 8.7% Higher – Here’s What Happened

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s stock price was up 8.7% during trading on Monday . The stock traded as high as $218.59 and last traded at $216.20. Approximately 79,201 shares traded hands during trading, a decline of 72% from the average daily volume of 280,709 shares. The stock had previously closed at $198.97.

Analyst Ratings Changes

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

Alpha Metallurgical Resources Stock Up 8.8%

The company has a market capitalization of $2.75 billion, a PE ratio of -71.94 and a beta of 0.62. 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 firm has a 50-day moving average of $195.16 and a two-hundred day moving average of $193.68.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings data on Friday, May 8th. The energy company reported ($0.86) earnings per share 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 for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.60) earnings per share. Equities research analysts predict that Alpha Metallurgical Resources, Inc. will post 11.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis acquired 25,000 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was bought at an average cost of $176.23 per share, for a total transaction of $4,405,750.00. Following the completion of the transaction, the director owned 841,537 shares of the company’s stock, valued at approximately $148,304,065.51. The trade was a 3.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Joshua Todd Munsey sold 2,523 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $183.24, for a total value of $462,314.52. Following the completion of the transaction, the chief financial officer owned 4,735 shares of the company’s stock, valued at $867,641.40. The trade was a 34.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders acquired 73,000 shares of company stock worth $13,368,910. Company insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in Alpha Metallurgical Resources during the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd lifted its stake in Alpha Metallurgical Resources by 215.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company’s stock worth $33,000 after purchasing an additional 112 shares in the last quarter. Leonteq Securities AG acquired a new position in Alpha Metallurgical Resources during the first quarter worth $37,000. Aster Capital Management DIFC Ltd acquired a new position in Alpha Metallurgical Resources during the fourth quarter worth $45,000. Finally, Hantz Financial Services Inc. lifted its stake in Alpha Metallurgical Resources by 361.5% during the third quarter. Hantz Financial Services Inc. now owns 240 shares of the energy company’s stock worth $39,000 after purchasing an additional 188 shares in the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

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.