Alpha Metallurgical Resources (NYSE:AMR) Director Acquires $4,405,750.00 in Stock

Key Points

• Kenneth Courtis, an AMR director, purchased 25,000 shares on March 9 at an average price of $176.23, spending $4,405,750 and increasing his stake to 841,537 shares (a 3.06% ownership increase, valued at about $148.3M).
• Alpha Metallurgical reported EPS of ($1.34) (in line with estimates) but missed revenue ($436.33M vs. $538.45M), and analysts hold a consensus "Reduce" rating with a $196 target while the company’s market cap is about $2.4B.

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) Director Kenneth Courtis purchased 25,000 shares of Alpha Metallurgical Resources stock in a transaction dated Monday, March 9th. The stock was bought at an average price of $176.23 per share, with a total value of $4,405,750.00. Following the completion of the purchase, the director directly owned 841,537 shares of the company's stock, valued at approximately $148,304,065.51. This trade represents a 3.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Alpha Metallurgical Resources Stock Performance

AMR stock traded up $6.81 during midday trading on Wednesday, reaching $187.61. 248,068 shares of the company's stock traded hands, compared to its average volume of 307,557. Alpha Metallurgical Resources, Inc. has a 52-week low of $97.41 and a 52-week high of $253.82. The stock's 50-day moving average is $202.98 and its 200 day moving average is $179.59. The company has a current ratio of 4.47, a quick ratio of 3.53 and a debt-to-equity ratio of 0.01. The stock has a market cap of $2.40 billion, a P/E ratio of -39.58 and a beta of 0.79.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its quarterly earnings data on Friday, February 27th. The energy company reported ($1.34) earnings per share for the quarter, meeting analysts' consensus estimates of ($1.34). Alpha Metallurgical Resources had a negative return on equity of 3.88% and a negative net margin of 2.90%.The firm had revenue of $436.33 million for the quarter, compared to analysts' expectations of $538.45 million. During the same period in the previous year, the firm earned ($0.16) EPS. The business's quarterly revenue was down 15.7% on a year-over-year basis. As a group, analysts anticipate that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Zacks Research downgraded Alpha Metallurgical Resources from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 5th. Texas Capital lowered Alpha Metallurgical Resources from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 29th. Weiss Ratings reiterated a "sell (d)" rating on shares of Alpha Metallurgical Resources in a report on Monday, December 29th. B. Riley Financial lifted their price target on Alpha Metallurgical Resources from $203.00 to $207.00 and gave the company a "neutral" rating in a report on Thursday, March 5th. Finally, Benchmark reiterated a "hold" rating on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Alpha Metallurgical Resources currently has a consensus rating of "Reduce" and a consensus target price of $196.00.

Institutional Trading of Alpha Metallurgical Resources

Several institutional investors have recently bought and sold shares of AMR. First Citizens Bank & Trust Co. raised its stake in shares of Alpha Metallurgical Resources by 1.8% during the 4th quarter. First Citizens Bank & Trust Co. now owns 4,058 shares of the energy company's stock worth $811,000 after buying an additional 72 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of Alpha Metallurgical Resources in the fourth quarter worth about $233,000. Regal Partners Ltd purchased a new stake in shares of Alpha Metallurgical Resources in the fourth quarter valued at approximately $977,000. Empowered Funds LLC increased its stake in shares of Alpha Metallurgical Resources by 47.3% in the 4th quarter. Empowered Funds LLC now owns 20,822 shares of the energy company's stock worth $4,162,000 after acquiring an additional 6,684 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Alpha Metallurgical Resources during the fourth quarter worth about $1,145,000. 84.29% of the stock is owned by institutional investors and hedge funds.

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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