Alpha Metallurgical Resources (NYSE:AMR) Trading 12.3% Higher – Time to Buy?

Alpha Metallurgical Resources, Inc. (NYSE:AMR) was up 12.3% during mid-day trading on Wednesday . The company traded as high as $185.88 and last traded at $190.31. 154,334 shares traded hands during trading, a decline of 45% from the average daily volume of 278,572 shares. The stock had previously closed at $169.44.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AMR shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $160.00 price target on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Zacks Research raised Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings lowered Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. B. Riley Financial cut their target price on Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Wall Street Zen downgraded Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $176.00.

Alpha Metallurgical Resources Stock Down 0.3%

The company has a current ratio of 3.41, a quick ratio of 2.37 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $159.37 and its 200-day simple moving average is $180.80. The firm has a market capitalization of $2.46 billion, a P/E ratio of -54.15 and a beta of 0.65.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The firm had revenue of $421.29 million during the quarter, compared to analyst estimates of $521.61 million. During the same quarter last year, the business posted ($0.38) EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, research analysts predict that Alpha Metallurgical Resources, Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis bought 15,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was purchased at an average cost of $193.50 per share, with a total value of $2,902,500.00. Following the transaction, the director directly owned 1,000,394 shares in the company, valued at $193,576,239. This trade represents a 1.52% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Matthew Manno sold 460 shares of Alpha Metallurgical Resources stock in a transaction on Monday, June 1st. The stock was sold at an average price of $214.64, for a total value of $98,734.40. Following the sale, the executive vice president owned 3,966 shares in the company, valued at $851,262.24. The trade was a 10.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 18.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Alpha Metallurgical Resources

Hedge funds have recently added to or reduced their stakes in the stock. First Citizens Bank & Trust Co. boosted its stake in shares of Alpha Metallurgical Resources by 1.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 4,058 shares of the energy company’s stock valued at $811,000 after purchasing an additional 72 shares during the period. ProShare Advisors LLC increased its stake in shares of Alpha Metallurgical Resources by 3.3% in the fourth 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. The Manufacturers Life Insurance Company increased its stake in shares of Alpha Metallurgical Resources by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 6,256 shares of the energy company’s stock worth $704,000 after buying an additional 76 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in 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 valued at $781,000 after buying an additional 78 shares during the last quarter. Finally, Virtus Advisers LLC raised its holdings in Alpha Metallurgical Resources by 2.8% during the 4th quarter. Virtus Advisers LLC now owns 3,443 shares of the energy company’s stock valued at $688,000 after buying an additional 93 shares during the last quarter. Institutional investors own 84.29% of the company’s stock.

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.