Alpha Metallurgical Resources (NYSE:AMR – Free Report) had its target price decreased by B. Riley Financial from $189.00 to $185.00 in a report released on Thursday morning,Benzinga reports. B. Riley Financial currently has a neutral rating on the energy company’s stock.
A number of other research analysts have also weighed in on AMR. Wall Street Zen lowered shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. 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. Zacks Research upgraded shares of Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Jefferies Financial Group restated a “hold” rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. Finally, UBS Group started coverage on shares of Alpha Metallurgical Resources in a research report on Friday, July 10th. They issued a “neutral” rating and a $165.00 price target on the stock. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $176.00.
Check Out Our Latest Research Report on AMR
Alpha Metallurgical Resources Price Performance
Alpha Metallurgical Resources (NYSE:AMR – Get Free Report) last issued its earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%.The company had revenue of $421.29 million for the quarter, compared to analysts’ expectations of $521.61 million. During the same period last year, the business earned ($0.38) EPS. Alpha Metallurgical Resources’s quarterly revenue was down 10.4% compared to the same quarter last year. Sell-side analysts forecast that Alpha Metallurgical Resources will post -2.4 EPS for the current fiscal year.
Insider Activity
In related news, COO Jason E. Whitehead sold 3,901 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $212.28, for a total transaction of $828,104.28. Following the completion of the sale, the chief operating officer directly owned 10,450 shares of the company’s stock, valued at approximately $2,218,326. This trade represents a 27.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark Matthew Manno sold 460 shares of Alpha Metallurgical Resources stock in a transaction on Monday, June 1st. The stock was sold at an average price of $214.64, for a total value of $98,734.40. Following the sale, the executive vice president owned 3,966 shares in the company, valued at $851,262.24. This trade represents a 10.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 18.20% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Alpha Metallurgical Resources
A number of hedge funds have recently made changes to their positions in AMR. Nykredit A S purchased a new position in shares of Alpha Metallurgical Resources in the 2nd quarter worth about $25,000. Los Angeles Capital Management LLC purchased a new stake in Alpha Metallurgical Resources during the fourth quarter worth about $29,000. Caitong International Asset Management Co. Ltd increased its holdings 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 worth $33,000 after buying an additional 112 shares during the last quarter. Leonteq Securities AG purchased a new stake in Alpha Metallurgical Resources during the first quarter worth about $37,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Alpha Metallurgical Resources in the fourth quarter worth about $45,000. 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.
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