Alpha Metallurgical Resources (NYSE:AMR) Stock Price Up 5.7% – Here’s Why

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) were up 5.7% on Tuesday . The company traded as high as $207.00 and last traded at $206.1090. Approximately 141,908 shares changed hands during trading, a decline of 51% from the average daily volume of 286,749 shares. The stock had previously closed at $195.03.

Wall Street Analyst Weigh In

AMR has been the topic of a number of recent analyst reports. B. Riley Financial increased their price target on shares of Alpha Metallurgical Resources from $203.00 to $207.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research note on Friday, March 27th. Zacks Research raised shares of Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Texas Capital cut shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Finally, Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Alpha Metallurgical Resources currently has an average rating of “Reduce” and a consensus target price of $196.00.

Alpha Metallurgical Resources Trading Up 4.5%

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.53 and a current ratio of 4.47. The stock has a market cap of $2.60 billion, a P/E ratio of -43.00 and a beta of 0.73. The stock has a 50-day moving average price of $190.32 and a 200-day moving average price of $189.01.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings data on Friday, February 27th. The energy company reported ($1.34) earnings per share for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $538.45 million. During the same period in the prior year, the business earned ($0.16) earnings per share. Alpha Metallurgical Resources’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities research analysts expect that Alpha Metallurgical Resources, Inc. will post 18.43 EPS for the current year.

Insider Activity

In other news, CFO Joshua Todd Munsey sold 2,523 shares of Alpha Metallurgical Resources stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $183.24, for a total transaction of $462,314.52. Following the completion of the sale, the chief financial officer directly owned 4,735 shares of the company’s stock, valued at approximately $867,641.40. The trade was a 34.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel E. Horn sold 971 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $170.05, for a total transaction of $165,118.55. Following the completion of the transaction, the insider owned 7,320 shares of the company’s stock, valued at $1,244,766. This trade represents a 11.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have purchased 58,000 shares of company stock worth $10,530,610. 18.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several institutional investors have recently modified their holdings of AMR. Financial Management Professionals Inc. bought a new stake in Alpha Metallurgical Resources in the 3rd quarter worth approximately $25,000. Los Angeles Capital Management LLC bought a new position in Alpha Metallurgical Resources during the fourth quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd grew its position in Alpha Metallurgical Resources by 215.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company’s stock valued at $33,000 after acquiring an additional 112 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Alpha Metallurgical Resources by 361.5% during the third quarter. Hantz Financial Services Inc. now owns 240 shares of the energy company’s stock worth $39,000 after acquiring an additional 188 shares in the last quarter. Finally, CWM LLC lifted its stake in Alpha Metallurgical Resources by 146.0% in the third quarter. CWM LLC now owns 246 shares of the energy company’s stock worth $40,000 after purchasing an additional 146 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors.

About Alpha Metallurgical Resources

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.