Zacks Research upgraded shares of Alpha Metallurgical Resources (NYSE:AMR – Free Report) from a strong sell rating to a hold rating in a research note published on Monday,Zacks.com reports.
Several other equities analysts also recently issued reports on the stock. Jefferies Financial Group reissued a “hold” rating and set a $185.00 price target on shares of Alpha Metallurgical Resources in a report on Monday, March 2nd. Texas Capital downgraded shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. B. Riley Financial boosted their price target on shares of Alpha Metallurgical Resources from $203.00 to $207.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Friday, March 27th. Finally, Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday, March 2nd. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $196.00.
View Our Latest Research Report on AMR
Alpha Metallurgical Resources Stock Performance
Alpha Metallurgical Resources (NYSE:AMR – Get Free Report) last announced its quarterly earnings results on Friday, February 27th. The energy company reported ($1.34) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.34). Alpha Metallurgical Resources had a negative net margin of 2.90% and a negative return on equity of 3.88%. The company had revenue of $436.33 million during the quarter, compared to the consensus estimate of $538.45 million. During the same quarter in the previous year, the company posted ($0.16) earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. Equities research analysts forecast that Alpha Metallurgical Resources will post 14.31 EPS for the current year.
Insider Activity at Alpha Metallurgical Resources
In related news, CFO Joshua Todd Munsey sold 2,523 shares of Alpha Metallurgical Resources stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $183.24, for a total transaction of $462,314.52. Following the sale, the chief financial officer directly owned 4,735 shares in the company, valued at $867,641.40. The trade was a 34.76% decrease in their ownership of the stock. 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 acquired 8,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average price 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 of the company’s stock, valued at approximately $167,097,784.59. This represents a 0.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 58,000 shares of company stock worth $10,530,610 over the last ninety days. 16.00% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Alpha Metallurgical Resources
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Citizens Bank & Trust Co. raised its stake in shares of Alpha Metallurgical Resources by 1.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 4,058 shares of the energy company’s stock valued at $811,000 after purchasing an additional 72 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Alpha Metallurgical Resources during the fourth quarter valued at about $233,000. Regal Partners Ltd bought a new stake in shares of Alpha Metallurgical Resources during the fourth quarter valued at about $977,000. Empowered Funds LLC raised its stake in shares of Alpha Metallurgical Resources by 47.3% during the fourth quarter. Empowered Funds LLC now owns 20,822 shares of the energy company’s stock valued at $4,162,000 after purchasing an additional 6,684 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Alpha Metallurgical Resources in the fourth quarter worth about $1,145,000. 84.29% of the stock is currently owned by institutional investors.
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.
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