Alpha Metallurgical Resources (NYSE:AMR – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Thursday,Zacks.com reports.
Several other research firms have also commented on AMR. B. Riley Financial reduced their price target on Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, August 20th. Wall Street Zen lowered Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Atlantic Securities set a $194.00 target price on shares of Alpha Metallurgical Resources in a report on Thursday, April 30th. UBS Group began coverage on shares of Alpha Metallurgical Resources in a research report on Friday, July 10th. They set a “neutral” rating and a $165.00 price target for the company. Finally, Weiss Ratings cut shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $176.00.
Check Out Our Latest Stock Analysis on AMR
Alpha Metallurgical Resources Price Performance
Alpha Metallurgical Resources (NYSE:AMR – Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. The company had revenue of $421.29 million during the quarter, compared to the consensus estimate 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 for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. Sell-side analysts forecast that Alpha Metallurgical Resources will post -2.4 EPS for the current fiscal year.
Insider Activity at Alpha Metallurgical Resources
In related news, COO Jason E. Whitehead sold 3,901 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $212.28, for a total value of $828,104.28. Following the completion of the sale, the chief operating officer directly owned 10,450 shares in the company, valued at $2,218,326. This trade represents a 27.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Matthew Manno sold 460 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $214.64, for a total transaction of $98,734.40. Following the sale, the executive vice president directly owned 3,966 shares in the company, valued at approximately $851,262.24. This represents a 10.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders purchased 30,000 shares of company stock valued at $5,992,450 in the last three months. 18.20% of the stock is owned by insiders.
Institutional Investors Weigh In On Alpha Metallurgical Resources
A number of large investors have recently made changes to their positions in AMR. Dalal Street LLC raised its stake in Alpha Metallurgical Resources by 2.1% in the 4th quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock worth $108,535,000 after acquiring an additional 11,000 shares during the last quarter. Kettle Hill Capital Management LLC acquired a new stake in Alpha Metallurgical Resources during the 4th quarter worth about $4,823,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Alpha Metallurgical Resources during the 2nd quarter valued at about $8,983,000. Old West Investment Management LLC purchased a new stake in Alpha Metallurgical Resources during the 2nd quarter valued at about $9,932,000. Finally, Goehring & Rozencwajg Associates LLC increased its holdings in shares of Alpha Metallurgical Resources by 206.8% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company’s stock valued at $49,683,000 after purchasing an additional 163,144 shares during the period. 84.29% of the stock is owned by hedge funds and other institutional investors.
Alpha Metallurgical Resources Company Profile
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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