Alpha Metallurgical Resources (NYSE:AMR) Raised to Hold at Wall Street Zen

Alpha Metallurgical Resources (NYSE:AMR) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

AMR has been the topic of a number of other reports. Jefferies Financial Group lifted their price objective on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a “hold” rating in a research report on Monday, August 11th. B. Riley lowered their price objective on Alpha Metallurgical Resources from $173.00 to $171.00 and set a “buy” rating on the stock in a research report on Tuesday, August 5th.

Alpha Metallurgical Resources Stock Down 8.4%

AMR stock opened at $146.40 on Friday. Alpha Metallurgical Resources has a twelve month low of $97.41 and a twelve month high of $255.04. The stock has a market cap of $1.91 billion, a P/E ratio of -51.37 and a beta of 0.59. The business’s 50-day moving average price is $121.92 and its 200-day moving average price is $130.00.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings data on Friday, August 8th. The energy company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.38) by $2.00. Alpha Metallurgical Resources had a negative return on equity of 2.28% and a negative net margin of 1.57%. The firm had revenue of $550.27 million for the quarter, compared to analysts’ expectations of $552.15 million. During the same period in the previous year, the firm earned $4.49 EPS. The business’s quarterly revenue was down 31.6% on a year-over-year basis. On average, equities research analysts expect that Alpha Metallurgical Resources will post 14.31 earnings per share for the current fiscal year.

Insider Activity at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, CFO Joshua Todd Munsey sold 2,135 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $157.00, for a total value of $335,195.00. Following the completion of the transaction, the chief financial officer directly owned 4,466 shares in the company, valued at $701,162. This represents a 32.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jason E. Whitehead sold 12,004 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $161.84, for a total value of $1,942,727.36. Following the completion of the transaction, the chief operating officer owned 9,673 shares of the company’s stock, valued at $1,565,478.32. The trade was a 55.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vident Advisory LLC boosted its stake in Alpha Metallurgical Resources by 7.2% in the 2nd quarter. Vident Advisory LLC now owns 11,962 shares of the energy company’s stock worth $1,345,000 after purchasing an additional 807 shares during the period. Gendell Jeffrey L raised its holdings in shares of Alpha Metallurgical Resources by 30.9% during the 2nd quarter. Gendell Jeffrey L now owns 296,396 shares of the energy company’s stock worth $33,339,000 after acquiring an additional 69,950 shares in the last quarter. Brevan Howard Capital Management LP purchased a new stake in shares of Alpha Metallurgical Resources during the 2nd quarter worth approximately $715,000. Bank of America Corp DE raised its holdings in shares of Alpha Metallurgical Resources by 74.1% during the 2nd quarter. Bank of America Corp DE now owns 79,772 shares of the energy company’s stock worth $8,973,000 after acquiring an additional 33,958 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Alpha Metallurgical Resources by 103.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 56,972 shares of the energy company’s stock worth $6,408,000 after acquiring an additional 28,922 shares in the last quarter. 84.29% of the stock is currently owned by institutional investors.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc, a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company offers metallurgical coal products. It operates twenty-two active mines and nine coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc and changed its name to Alpha Metallurgical Resources, Inc in February 2021.