Insider Buying: Alpha Metallurgical Resources (NYSE:AMR) Director Purchases $1,528,560.00 in Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) Director Kenneth Courtis acquired 8,000 shares of the stock in a transaction dated Thursday, March 12th. The stock was bought at an average cost of $191.07 per share, with a total value 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. The trade was a 0.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Alpha Metallurgical Resources Price Performance

AMR opened at $193.86 on Monday. Alpha Metallurgical Resources, Inc. has a 1 year low of $97.41 and a 1 year high of $253.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.47 and a quick ratio of 3.53. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -40.90 and a beta of 0.79. The firm’s fifty day moving average price is $199.57 and its two-hundred day moving average price is $182.15.

Alpha Metallurgical Resources (NYSE:AMR) last released its 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). The company had revenue of $436.33 million during the quarter, compared to analyst estimates of $538.45 million. Alpha Metallurgical Resources had a negative return on equity of 3.88% and a negative net margin of 2.90%.Alpha Metallurgical Resources’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) earnings per share. As a group, analysts anticipate that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AMR has been the subject of several research reports. B. Riley Financial increased their price target on Alpha Metallurgical Resources from $203.00 to $207.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Monday, December 29th. Texas Capital lowered shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Zacks Research downgraded shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 5th. Finally, Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Alpha Metallurgical Resources presently has a consensus rating of “Reduce” and a consensus price target of $196.00.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of Alpha Metallurgical Resources by 27.2% in the 2nd quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after acquiring an additional 185,281 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Alpha Metallurgical Resources by 2.3% during the fourth 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. grew its holdings in shares of Alpha Metallurgical Resources by 6.4% during the fourth quarter. Continental General Insurance Co. now owns 644,025 shares of the energy company’s stock worth $128,728,000 after purchasing an additional 38,576 shares in the last quarter. Dalal Street LLC increased its position in shares of Alpha Metallurgical Resources by 2.1% in the fourth quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock worth $108,535,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Gendell Jeffrey L raised its stake in Alpha Metallurgical Resources by 4.0% in 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 hedge funds and other 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.