Insider Buying: Alpha Metallurgical Resources (NYSE:AMR) Director Purchases $1,693,440.00 in Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis purchased 9,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was bought at an average price of $188.16 per share, with a total value of $1,693,440.00. Following the transaction, the director directly owned 816,537 shares in the company, valued at $153,639,601.92. This trade represents a 1.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Alpha Metallurgical Resources Trading Up 0.7%

NYSE AMR opened at $207.77 on Friday. Alpha Metallurgical Resources, Inc. has a 1 year low of $97.41 and a 1 year high of $214.14. The company has a market cap of $2.67 billion, a PE ratio of -58.36 and a beta of 0.91. The stock’s 50-day moving average price is $168.97 and its two-hundred day moving average price is $146.69.

Alpha Metallurgical Resources (NYSE:AMR) last released 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). Alpha Metallurgical Resources had a negative return on equity of 2.88% and a negative net margin of 2.09%.The firm had revenue of $526.78 million during the quarter, compared to analysts’ expectations of $543.77 million. During the same period last year, the business earned $0.29 earnings per share. The business’s revenue was down 21.6% on a year-over-year basis. Research analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Hedge funds have recently added to or reduced their stakes in the company. Lindenwold Advisors INC acquired a new stake in Alpha Metallurgical Resources in the third quarter valued at approximately $241,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Alpha Metallurgical Resources in the 3rd quarter valued at $205,000. PDT Partners LLC boosted its holdings in Alpha Metallurgical Resources by 82.0% in the third quarter. PDT Partners LLC now owns 46,964 shares of the energy company’s stock worth $7,706,000 after purchasing an additional 21,159 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in Alpha Metallurgical Resources in the third quarter worth $1,515,000. Finally, Virtus Advisers LLC acquired a new position in Alpha Metallurgical Resources during the third quarter worth $550,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $160.50.

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.