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 report published on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on AMR. 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 note on Thursday, August 20th. Wall Street Zen downgraded shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. UBS Group started coverage on shares of Alpha Metallurgical Resources in a research note on Friday, July 10th. They set a “neutral” rating and a $165.00 target price for the company. Weiss Ratings cut shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $160.00 price target on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 21st. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Alpha Metallurgical Resources currently has an average rating of “Reduce” and a consensus target price of $176.00.

Alpha Metallurgical Resources Stock Down 0.2%

NYSE:AMR opened at $226.84 on Thursday. 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 has a 50 day moving average of $162.65 and a 200-day moving average of $181.49. The firm has a market capitalization of $2.88 billion, a PE ratio of -63.36 and a beta of 0.65. Alpha Metallurgical Resources has a 52 week low of $133.64 and a 52 week high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. The business had revenue of $421.29 million during the quarter, compared to analyst estimates of $521.61 million. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%.The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.38) EPS. Analysts predict that Alpha Metallurgical Resources will post -2.4 EPS for the current year.

Insider Activity

In other news, COO Jason E. Whitehead sold 3,901 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $212.28, for a total transaction of $828,104.28. Following the transaction, the chief operating officer directly owned 10,450 shares of the company’s stock, valued at approximately $2,218,326. This trade represents a 27.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth S. Courtis acquired 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were bought at an average price of $193.50 per share, for a total transaction of $2,902,500.00. Following the completion of the purchase, the director owned 1,015,394 shares of the company’s stock, valued at approximately $196,478,739. This represents a 1.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 30,000 shares of company stock valued at $5,992,450. Company insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Nykredit A S purchased a new stake in Alpha Metallurgical Resources during the second quarter valued at about $25,000. Los Angeles Capital Management LLC acquired a new stake in shares of Alpha Metallurgical Resources during the 4th quarter valued at $29,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Alpha Metallurgical Resources by 215.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company’s stock valued at $33,000 after acquiring an additional 112 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of Alpha Metallurgical Resources in the first quarter worth $37,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Alpha Metallurgical Resources in the fourth quarter worth $45,000. Institutional investors 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.