Alpha Metallurgical Resources, Inc. (NYSE:AMR – Get Free Report) has been given an average recommendation of “Reduce” by the seven brokerages that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $176.00.
Several brokerages recently weighed in on AMR. Weiss Ratings downgraded shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. 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 target price on the stock. B. Riley Financial reduced their target price on Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, August 20th. Jefferies Financial Group restated a “hold” rating and issued a $160.00 price target on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 21st. Finally, Zacks Research downgraded Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, August 27th.
View Our Latest Stock Report on AMR
Alpha Metallurgical Resources Trading Down 5.7%
Alpha Metallurgical Resources (NYSE:AMR – Get Free Report) last released its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. The business had revenue of $421.29 million during the quarter, compared to analyst estimates of $521.61 million. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. Alpha Metallurgical Resources’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the business earned ($0.38) EPS. As a group, equities analysts forecast that Alpha Metallurgical Resources will post -2.4 EPS for the current fiscal year.
Insider Buying and Selling
In other Alpha Metallurgical Resources news, Director Kenneth Courtis bought 10,000 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was acquired at an average price of $225.83 per share, with a total value of $2,258,300.00. Following the transaction, the director owned 1,035,394 shares in the company, valued at $233,823,027.02. This represents a 0.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders bought 35,000 shares of company stock valued at $7,388,400. 18.20% of the stock is currently owned by company insiders.
Institutional Trading of Alpha Metallurgical Resources
A number of large investors have recently made changes to their positions in the stock. Tidal Investments LLC raised its holdings in shares of Alpha Metallurgical Resources by 10.2% during the second quarter. Tidal Investments LLC now owns 1,884 shares of the energy company’s stock valued at $311,000 after purchasing an additional 174 shares during the last quarter. WINTON GROUP Ltd boosted its holdings in Alpha Metallurgical Resources by 97.4% in the second quarter. WINTON GROUP Ltd now owns 1,940 shares of the energy company’s stock worth $320,000 after purchasing an additional 957 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Alpha Metallurgical Resources in the second quarter worth approximately $3,728,000. Nykredit A S bought a new stake in Alpha Metallurgical Resources in the 2nd quarter worth approximately $25,000. Finally, NWF Advisory Services Inc. grew its position in Alpha Metallurgical Resources by 46.5% in the 2nd quarter. NWF Advisory Services Inc. now owns 57,925 shares of the energy company’s stock worth $9,554,000 after purchasing an additional 18,390 shares during the period. 84.29% of the stock is currently owned by institutional investors.
Alpha Metallurgical Resources Company Profile
Alpha Metallurgical Resources, Inc is a mining company that produces and markets metallurgical coal, a key raw material used in steelmaking. Its products include premium and high-volatility metallurgical coal, as well as thermal coal, which is used primarily for electricity generation.
The company operates underground and surface mines and related processing facilities in Central Appalachia, principally in Virginia and West Virginia. Alpha sells its coal to domestic and international steel producers, coke manufacturers, and other industrial customers, serving markets in North America, Asia, Europe, and elsewhere.
Alpha Metallurgical Resources was formed from the restructuring of the former Alpha Natural Resources business and operated as Contura Energy before adopting its current name in 2021.
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