Alpha Metallurgical Resources (NYSE:AMR) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Alpha Metallurgical Resources (NYSE:AMR) from a hold rating to a strong sell rating in a report issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. Texas Capital lowered shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. B.Riley Securit cut Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. B. Riley Financial lowered Alpha Metallurgical Resources from a “buy” rating to a “neutral” rating and decreased their target price for the company from $204.00 to $203.00 in a report on Wednesday. B. Riley Securities restated a “neutral” rating and set a $203.00 price target (down previously from $204.00) on shares of Alpha Metallurgical Resources in a report on Wednesday. Finally, Jefferies Financial Group lifted their price objective on Alpha Metallurgical Resources from $165.00 to $205.00 and gave the company a “hold” rating in a research note on Tuesday, January 20th. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Alpha Metallurgical Resources currently has a consensus rating of “Reduce” and an average price target of $203.67.

Alpha Metallurgical Resources Stock Up 2.3%

Shares of AMR opened at $206.39 on Thursday. The stock has a market cap of $2.65 billion, a PE ratio of -57.97 and a beta of 0.78. Alpha Metallurgical Resources has a 52-week low of $97.41 and a 52-week high of $253.82. The firm’s fifty day moving average is $208.59 and its two-hundred day moving average is $172.81.

Alpha Metallurgical Resources (NYSE:AMR) last announced its earnings results on Thursday, November 6th. The energy company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.07). The firm had revenue of $526.78 million for the quarter, compared to analysts’ expectations of $543.77 million. Alpha Metallurgical Resources had a negative net margin of 2.09% and a negative return on equity of 2.88%. The business’s revenue was down 21.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 earnings per share. As a group, research analysts anticipate that Alpha Metallurgical Resources will post 14.31 earnings per share for the current year.

Insider Activity at Alpha Metallurgical Resources

In related news, insider Daniel E. Horn sold 8,125 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider directly owned 4,989 shares of the company’s stock, valued at $939,528.48. This represents a 61.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth S. Courtis purchased 36,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were purchased at an average price of $175.26 per share, for a total transaction of $6,309,360.00. Following the purchase, the director directly owned 770,537 shares in the company, valued at $135,044,314.62. The trade was a 4.90% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 98,576 shares of company stock valued at $17,994,174 in the last ninety days. Insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several large investors have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in shares of Alpha Metallurgical Resources by 55.0% in the 1st quarter. Royal Bank of Canada now owns 2,029 shares of the energy company’s stock valued at $254,000 after acquiring an additional 720 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Alpha Metallurgical Resources by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,548 shares of the energy company’s stock worth $820,000 after purchasing an additional 295 shares during the last quarter. Millennium Management LLC increased its stake in Alpha Metallurgical Resources by 208.0% in the first quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock valued at $13,290,000 after purchasing an additional 71,653 shares during the period. Intech Investment Management LLC raised its holdings in shares of Alpha Metallurgical Resources by 48.3% in the first quarter. Intech Investment Management LLC now owns 13,149 shares of the energy company’s stock valued at $1,647,000 after buying an additional 4,281 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Alpha Metallurgical Resources by 68.0% in the second quarter. Blue Trust Inc. now owns 914 shares of the energy company’s stock valued at $103,000 after buying an additional 370 shares during the last quarter. 84.29% of the stock is owned by institutional investors and hedge funds.

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.