Alpha Metallurgical Resources (NYSE:AMR) Cut to Hold at B.Riley Securit

B.Riley Securit lowered shares of Alpha Metallurgical Resources (NYSE:AMR) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

Several other analysts also recently weighed in on AMR. Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Monday, December 29th. Jefferies Financial Group boosted their price target on shares of Alpha Metallurgical Resources from $165.00 to $205.00 and gave the company a “hold” rating in a research report on Tuesday, January 20th. Texas Capital downgraded shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. B. Riley Securities reiterated a “neutral” rating and set a $203.00 target price (down previously from $204.00) on shares of Alpha Metallurgical Resources in a research report on Wednesday. Finally, B. Riley Financial downgraded Alpha Metallurgical Resources from a “buy” rating to a “neutral” rating and reduced their target price for the company from $204.00 to $203.00 in a report on Wednesday. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $203.67.

Alpha Metallurgical Resources Stock Performance

NYSE:AMR opened at $206.39 on Wednesday. Alpha Metallurgical Resources has a 1 year low of $97.41 and a 1 year high of $253.82. The stock has a market cap of $2.65 billion, a P/E ratio of -57.97 and a beta of 0.78. The stock has a 50-day simple moving average of $208.59 and a 200-day simple moving average of $172.59.

Alpha Metallurgical Resources (NYSE:AMR) last issued its earnings results on Thursday, November 6th. The energy company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.07). The business had revenue of $526.78 million for the quarter, compared to analyst estimates of $543.77 million. Alpha Metallurgical Resources had a negative return on equity of 2.88% and a negative net margin of 2.09%.Alpha Metallurgical Resources’s revenue was down 21.6% on a year-over-year basis. During the same period last year, the business posted $0.29 EPS. On average, equities research analysts predict that Alpha Metallurgical Resources will post 14.31 EPS for the current year.

Insider Activity at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, insider Daniel E. Horn sold 8,125 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $188.32, for a total value of $1,530,100.00. Following the transaction, the insider directly owned 4,989 shares in the company, valued at approximately $939,528.48. This trade represents a 61.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Gorzynski bought 38,576 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was bought at an average cost of $188.50 per share, for a total transaction of $7,271,576.00. Following the acquisition, the director owned 644,025 shares of the company’s stock, valued at approximately $121,398,712.50. This trade represents a 6.37% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 98,576 shares of company stock worth $17,994,174 in the last quarter. Company insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of large investors have recently modified their holdings of AMR. State Street Corp increased its position in shares of Alpha Metallurgical Resources by 27.2% in the second quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after buying an additional 185,281 shares in the last quarter. Dalal Street LLC increased its holdings in Alpha Metallurgical Resources by 15.6% during the 3rd quarter. Dalal Street LLC now owns 532,000 shares of the energy company’s stock valued at $87,296,000 after acquiring an additional 71,673 shares in the last quarter. American Century Companies Inc. raised its position in Alpha Metallurgical Resources by 5.6% during the third quarter. American Century Companies Inc. now owns 416,577 shares of the energy company’s stock worth $68,356,000 after acquiring an additional 22,243 shares during the last quarter. Gendell Jeffrey L raised its position in Alpha Metallurgical Resources by 30.9% during the second 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 during the last quarter. Finally, Systrade AG purchased a new stake in shares of Alpha Metallurgical Resources in the fourth quarter valued at about $55,966,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

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.