Zacks Research Upgrades Alpha Metallurgical Resources (NYSE:AMR) to Hold

Alpha Metallurgical Resources (NYSE:AMRGet Free Report) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on AMR. UBS Group initiated coverage on Alpha Metallurgical Resources in a research note on Friday, July 10th. They set a “neutral” rating and a $165.00 price target on the stock. B. Riley Financial decreased their price objective on shares of Alpha Metallurgical Resources from $194.00 to $189.00 and set a “neutral” rating for the company in a research report on Tuesday. Jefferies Financial Group reiterated a “hold” rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 21st. Atlantic Securities set a $194.00 target price on shares of Alpha Metallurgical Resources in a research report on Thursday, April 30th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research note on Wednesday, June 24th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $177.00.

Read Our Latest Stock Analysis on Alpha Metallurgical Resources

Alpha Metallurgical Resources Stock Up 3.3%

Alpha Metallurgical Resources stock opened at $143.74 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.67 and a quick ratio of 2.81. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -47.91 and a beta of 0.63. Alpha Metallurgical Resources has a 1-year low of $113.00 and a 1-year high of $253.82. The business has a fifty day moving average price of $171.71 and a 200-day moving average price of $188.54.

Alpha Metallurgical Resources (NYSE:AMRGet Free Report) last announced its earnings results on Friday, May 8th. The energy company reported ($0.86) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.86). Alpha Metallurgical Resources had a negative return on equity of 2.47% and a negative net margin of 1.83%.The company had revenue of $447.32 million for the quarter, compared to analyst estimates of $535.15 million. During the same period in the prior year, the company posted ($2.60) EPS. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities research analysts forecast that Alpha Metallurgical Resources will post 0.2 EPS for the current fiscal year.

Insider Activity at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, EVP Mark Matthew Manno sold 460 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $214.64, for a total value of $98,734.40. Following the completion of the transaction, the executive vice president owned 3,966 shares in the company, valued at approximately $851,262.24. This represents a 10.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jason E. Whitehead sold 3,901 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $212.28, for a total transaction of $828,104.28. Following the sale, the chief operating officer directly owned 10,450 shares in the company, valued at approximately $2,218,326. The trade was a 27.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 18.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Institutional investors and hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC purchased a new position in Alpha Metallurgical Resources during the fourth quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd increased its position in shares of Alpha Metallurgical Resources by 215.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company’s stock valued at $33,000 after buying an additional 112 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of Alpha Metallurgical Resources in the first quarter valued at approximately $37,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Alpha Metallurgical Resources during the 4th quarter worth approximately $45,000. Finally, Hantz Financial Services Inc. raised its stake in shares of Alpha Metallurgical Resources by 67.9% during the 4th quarter. Hantz Financial Services Inc. now owns 403 shares of the energy company’s stock worth $81,000 after buying an additional 163 shares during the period. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Alpha Metallurgical Resources Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Alpha Metallurgical Resources (NYSE:AMR)

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