Insider Selling: Alpha Metallurgical Resources, Inc. (NYSE:AMR) COO Sells 12,004 Shares of Stock

Alpha Metallurgical Resources, Inc. (NYSE:AMR) COO Jason E. Whitehead sold 12,004 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $161.84, for a total value of $1,942,727.36. Following the transaction, the chief operating officer directly owned 9,673 shares of the company’s stock, valued at approximately $1,565,478.32. This represents a 55.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Alpha Metallurgical Resources Stock Down 8.4%

AMR stock opened at $146.40 on Friday. The business has a 50 day moving average price of $121.92 and a 200 day moving average price of $130.00. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -51.37 and a beta of 0.59. Alpha Metallurgical Resources, Inc. has a fifty-two week low of $97.41 and a fifty-two week high of $255.04.

Alpha Metallurgical Resources (NYSE:AMR) last posted its earnings results on Friday, August 8th. The energy company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($2.38) by $2.00. The firm had revenue of $550.27 million during the quarter, compared to analysts’ expectations of $552.15 million. Alpha Metallurgical Resources had a negative return on equity of 2.28% and a negative net margin of 1.57%. The firm’s revenue was down 31.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.49 earnings per share. As a group, sell-side analysts anticipate that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several institutional investors have recently added to or reduced their stakes in AMR. Wells Fargo & Company MN lifted its stake in Alpha Metallurgical Resources by 35.6% in the fourth quarter. Wells Fargo & Company MN now owns 6,788 shares of the energy company’s stock valued at $1,358,000 after buying an additional 1,781 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Alpha Metallurgical Resources by 21.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,457 shares of the energy company’s stock valued at $292,000 after buying an additional 254 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Alpha Metallurgical Resources by 86.5% in the fourth quarter. Russell Investments Group Ltd. now owns 9,228 shares of the energy company’s stock valued at $1,847,000 after buying an additional 4,280 shares during the last quarter. Bank of Montreal Can lifted its stake in Alpha Metallurgical Resources by 6.0% in the fourth quarter. Bank of Montreal Can now owns 1,318 shares of the energy company’s stock valued at $264,000 after buying an additional 75 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Alpha Metallurgical Resources by 0.7% in the fourth quarter. Legal & General Group Plc now owns 29,973 shares of the energy company’s stock valued at $5,998,000 after buying an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AMR shares. Jefferies Financial Group boosted their price objective on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, August 11th. B. Riley lowered their price objective on Alpha Metallurgical Resources from $173.00 to $171.00 and set a “buy” rating for the company in a research report on Tuesday, August 5th. Finally, Wall Street Zen raised Alpha Metallurgical Resources from a “sell” rating to a “hold” rating in a research report on Saturday.

Alpha Metallurgical Resources Company Profile

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.