Alpha Metallurgical Resources (NYSE:AMR) Shares Gap Up to $349.17

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) gapped up prior to trading on Wednesday . The stock had previously closed at $349.17, but opened at $360.00. Alpha Metallurgical Resources shares last traded at $344.95, with a volume of 134,371 shares changing hands.

Analyst Upgrades and Downgrades

Separately, B. Riley dropped their target price on shares of Alpha Metallurgical Resources from $381.00 to $374.00 and set a “buy” rating on the stock in a report on Monday.

Alpha Metallurgical Resources Trading Down 2.3 %

The stock’s 50-day simple moving average is $347.89 and its 200-day simple moving average is $316.19. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 6.93 and a beta of 1.35.

Alpha Metallurgical Resources (NYSE:AMR) last announced its earnings results on Monday, February 26th. The energy company reported $12.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.78 by $4.10. The firm had revenue of $959.90 million for the quarter, compared to analyst estimates of $796.65 million. Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $13.37 EPS. On average, equities research analysts forecast that Alpha Metallurgical Resources, Inc. will post 29.82 earnings per share for the current year.

Insider Activity at Alpha Metallurgical Resources

In related news, CAO Roger Lee Nicholson sold 6,629 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $369.71, for a total value of $2,450,807.59. Following the completion of the transaction, the chief accounting officer now owns 10,720 shares of the company’s stock, valued at approximately $3,963,291.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Roger Lee Nicholson sold 6,629 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $369.71, for a total transaction of $2,450,807.59. Following the completion of the transaction, the chief accounting officer now owns 10,720 shares of the company’s stock, valued at $3,963,291.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth S. Courtis sold 22,802 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $302.81, for a total transaction of $6,904,673.62. Following the transaction, the director now directly owns 638,234 shares of the company’s stock, valued at approximately $193,263,637.54. The disclosure for this sale can be found here. Insiders sold a total of 153,971 shares of company stock valued at $55,479,986 in the last quarter. Insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Arcus Capital Partners LLC acquired a new position in Alpha Metallurgical Resources in the first quarter valued at $216,000. Measured Wealth Private Client Group LLC increased its stake in Alpha Metallurgical Resources by 5.0% in the first quarter. Measured Wealth Private Client Group LLC now owns 819 shares of the energy company’s stock valued at $271,000 after purchasing an additional 39 shares in the last quarter. Hennessy Advisors Inc. increased its stake in Alpha Metallurgical Resources by 43.9% in the first quarter. Hennessy Advisors Inc. now owns 25,900 shares of the energy company’s stock valued at $8,577,000 after purchasing an additional 7,900 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Alpha Metallurgical Resources by 70.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,848 shares of the energy company’s stock valued at $1,274,000 after purchasing an additional 1,596 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in Alpha Metallurgical Resources in the fourth quarter valued at $519,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc, a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company offers metallurgical coal products. It operates twenty-two active mines and nine coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc and changed its name to Alpha Metallurgical Resources, Inc in February 2021.