Alpha Metallurgical Resources, Inc. (NYSE:AMR – Get Free Report) shares fell 7.8% on Friday . The stock traded as low as $197.76 and last traded at $197.0050. 259,383 shares changed hands during trading, a decline of 8% from the average session volume of 280,766 shares. The stock had previously closed at $213.72.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on AMR shares. B. Riley Financial raised their price objective on Alpha Metallurgical Resources from $203.00 to $207.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Zacks Research downgraded shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $185.00 price objective on shares of Alpha Metallurgical Resources in a report on Monday, March 2nd. Finally, Texas Capital lowered shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $195.33.
Check Out Our Latest Stock Analysis on Alpha Metallurgical Resources
Alpha Metallurgical Resources Price Performance
Alpha Metallurgical Resources (NYSE:AMR – Get Free Report) last issued its earnings results on Friday, May 8th. The energy company reported ($0.86) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.86). Alpha Metallurgical Resources had a negative net margin of 1.83% and a negative return on equity of 2.47%. The business 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 firm earned ($2.60) earnings per share. Alpha Metallurgical Resources’s revenue was down 1.3% on a year-over-year basis. As a group, analysts anticipate that Alpha Metallurgical Resources, Inc. will post 11.98 earnings per share for the current year.
Insider Activity at Alpha Metallurgical Resources
In other news, Director Kenneth S. Courtis bought 25,000 shares of Alpha Metallurgical Resources stock in a transaction dated Monday, March 9th. The stock was purchased at an average price of $176.23 per share, for a total transaction of $4,405,750.00. Following the purchase, the director directly owned 841,537 shares in the company, valued at $148,304,065.51. The trade was a 3.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joshua Todd Munsey sold 2,523 shares of the stock in a transaction dated 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 owned 4,735 shares of the company’s stock, valued at approximately $867,641.40. This represents a 34.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased a total of 73,000 shares of company stock valued at $13,368,910 over the last 90 days. Insiders own 18.20% of the company’s stock.
Institutional Investors Weigh In On Alpha Metallurgical Resources
Several institutional investors and hedge funds have recently added to or reduced their stakes in AMR. Los Angeles Capital Management LLC bought a new position in shares of Alpha Metallurgical Resources during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd grew its holdings 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 acquiring an additional 112 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of Alpha Metallurgical Resources during the first quarter valued at approximately $37,000. Hantz Financial Services Inc. increased its position 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 valued at $39,000 after acquiring an additional 188 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in Alpha Metallurgical Resources during the fourth quarter worth $45,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.
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.
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