Alpha Metallurgical Resources (NYSE:AMR) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Alpha Metallurgical Resources (NYSE:AMR) has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting a change in analysts' outlook on the stock.
• Despite the upgrade, AMR stock has seen an 8.4% decline and currently trades at $146.40, down from a twelve-month high of $255.04.
• In its latest quarterly report, Alpha Metallurgical posted a smaller-than-expected net loss with revenues of $550.27 million, but this represented a 31.6% decrease compared to the previous year.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

A number of other analysts also recently commented on AMR. Jefferies Financial Group boosted their price target on shares of Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. B. Riley dropped their price target on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating on the stock in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $160.50.

Alpha Metallurgical Resources Stock Performance

Shares of AMR stock traded up $2.6570 during midday trading on Friday, reaching $139.4070. 495,257 shares of the company were exchanged, compared to its average volume of 456,857. Alpha Metallurgical Resources has a 12 month low of $97.41 and a 12 month high of $255.04. The company has a market cap of $1.82 billion, a P/E ratio of -48.91 and a beta of 0.59. The company's 50 day moving average price is $123.54 and its two-hundred day moving average price is $129.02.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The energy company reported ($0.38) EPS for the quarter, topping analysts' consensus estimates of ($2.38) by $2.00. Alpha Metallurgical Resources had a negative net margin of 1.57% and a negative return on equity of 2.28%. The company had revenue of $550.27 million for the quarter, compared to the consensus estimate of $552.15 million. During the same period in the previous year, the firm earned $4.49 EPS. Alpha Metallurgical Resources's revenue was down 31.6% on a year-over-year basis. As a group, sell-side analysts predict that Alpha Metallurgical Resources will post 14.31 earnings per share for the current year.

Insider Activity at Alpha Metallurgical Resources

In other news, CFO Joshua Todd Munsey sold 2,135 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $157.00, for a total value of $335,195.00. Following the transaction, the chief financial officer directly owned 4,466 shares of the company's stock, valued at $701,162. This trade represents a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jason E. Whitehead sold 12,004 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $161.84, for a total transaction of $1,942,727.36. Following the completion of the transaction, the chief operating officer directly owned 9,673 shares in the company, valued at approximately $1,565,478.32. This trade represents a 55.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 16.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Signaturefd LLC increased its position in shares of Alpha Metallurgical Resources by 306.1% in the first quarter. Signaturefd LLC now owns 199 shares of the energy company's stock worth $25,000 after acquiring an additional 150 shares in the last quarter. AdvisorNet Financial Inc increased its position in shares of Alpha Metallurgical Resources by 214.3% in the first quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company's stock worth $28,000 after acquiring an additional 150 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Alpha Metallurgical Resources during the first quarter worth approximately $38,000. Public Employees Retirement System of Ohio purchased a new position in Alpha Metallurgical Resources during the fourth quarter valued at approximately $60,000. Finally, Opal Wealth Advisors LLC acquired a new position in Alpha Metallurgical Resources in the 1st quarter valued at approximately $64,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc, a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company offers metallurgical coal products. It operates twenty-two active mines and nine coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc and changed its name to Alpha Metallurgical Resources, Inc in February 2021.