Brokerages Set Alpha Metallurgical Resources, Inc. (NYSE:AMR) PT at $196.00

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) have been given an average recommendation of “Reduce” by the six analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $196.00.

A number of research analysts have recently issued reports on AMR shares. Texas Capital downgraded Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Zacks Research downgraded Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, February 5th. Jefferies Financial Group reissued a “hold” rating and issued a $185.00 price target on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday, March 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research note on Friday.

Alpha Metallurgical Resources Stock Performance

NYSE:AMR opened at $213.20 on Friday. Alpha Metallurgical Resources has a fifty-two week low of $97.41 and a fifty-two week high of $253.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.53 and a current ratio of 4.47. The company has a 50 day simple moving average of $195.96 and a two-hundred day simple moving average of $185.28. The company has a market capitalization of $2.73 billion, a PE ratio of -44.98 and a beta of 0.79.

Alpha Metallurgical Resources (NYSE:AMR) last announced its earnings results on Friday, February 27th. The energy company reported ($1.34) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.34). The business had revenue of $436.33 million during the quarter, compared to the consensus estimate of $538.45 million. Alpha Metallurgical Resources had a negative net margin of 2.90% and a negative return on equity of 3.88%. Alpha Metallurgical Resources’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.16) earnings per share. Research analysts anticipate that Alpha Metallurgical Resources will post 14.31 earnings per share for the current year.

Insider Buying and Selling at Alpha Metallurgical Resources

In related news, insider Daniel E. Horn sold 971 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $170.05, for a total value of $165,118.55. Following the completion of the sale, the insider directly owned 7,320 shares of the company’s stock, valued at $1,244,766. The trade was a 11.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kenneth S. Courtis purchased 8,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average cost of $191.07 per share, for a total transaction of $1,528,560.00. Following the completion of the purchase, the director owned 874,537 shares in the company, valued at $167,097,784.59. This trade represents a 0.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 58,000 shares of company stock valued at $10,530,610. Corporate insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several hedge funds and other institutional investors have recently modified their holdings of AMR. Systrade AG bought a new position in shares of Alpha Metallurgical Resources in the 4th quarter worth $55,966,000. Crocodile Capital Partners GmbH bought a new stake in Alpha Metallurgical Resources during the 4th quarter valued at $40,999,000. State Street Corp increased its stake 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 valued at $97,400,000 after purchasing an additional 185,281 shares in the last quarter. Contrarius Group Holdings Ltd acquired a new position in Alpha Metallurgical Resources during the third quarter worth $12,146,000. Finally, Dalal Street LLC lifted its stake in shares of Alpha Metallurgical Resources by 15.6% in the third quarter. Dalal Street LLC now owns 532,000 shares of the energy company’s stock valued at $87,296,000 after buying an additional 71,673 shares in the last quarter. 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.