Insider Buying: Alpha Metallurgical Resources (NYSE:AMR) Director Buys $1,868,700.00 in Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis bought 10,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average price of $186.87 per share, with a total value of $1,868,700.00. Following the completion of the transaction, the director directly owned 866,537 shares in the company, valued at approximately $161,929,769.19. This represents a 1.17% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alpha Metallurgical Resources Stock Performance

Shares of Alpha Metallurgical Resources stock opened at $187.84 on Monday. The company has a current ratio of 4.47, a quick ratio of 3.53 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.40 billion, a PE ratio of -39.63 and a beta of 0.79. The company has a 50 day moving average of $202.47 and a 200-day moving average of $180.44. Alpha Metallurgical Resources, Inc. has a 1-year low of $97.41 and a 1-year high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings data on Friday, February 27th. The energy company reported ($1.34) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.34). Alpha Metallurgical Resources had a negative net margin of 2.90% and a negative return on equity of 3.88%. The business had revenue of $436.33 million for the quarter, compared to analysts’ expectations of $538.45 million. During the same period last year, the firm posted ($0.16) earnings per share. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. As a group, equities research analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AMR. State Street Corp grew its position in Alpha Metallurgical Resources by 27.2% during the 2nd quarter. State Street Corp now owns 865,934 shares of the energy company’s stock worth $97,400,000 after acquiring an additional 185,281 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Alpha Metallurgical Resources by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 683,572 shares of the energy company’s stock worth $136,636,000 after purchasing an additional 15,348 shares in the last quarter. Continental General Insurance Co. raised its position in Alpha Metallurgical Resources by 6.4% in the fourth quarter. Continental General Insurance Co. now owns 644,025 shares of the energy company’s stock valued at $128,728,000 after purchasing an additional 38,576 shares during the last quarter. Dalal Street LLC raised its position in Alpha Metallurgical Resources by 2.1% in the fourth quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock valued at $108,535,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Gendell Jeffrey L boosted its stake in shares of Alpha Metallurgical Resources by 4.0% during the fourth quarter. Gendell Jeffrey L now owns 494,072 shares of the energy company’s stock valued at $98,755,000 after purchasing an additional 19,033 shares in the last quarter. 84.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AMR shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research note on Monday, December 29th. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. B. Riley Financial lifted their target price on Alpha Metallurgical Resources from $203.00 to $207.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Jefferies Financial Group reissued a “hold” rating and set a $185.00 target price on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. Finally, Texas Capital cut shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Alpha Metallurgical Resources currently has an average rating of “Reduce” and an average target price of $196.00.

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.