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 analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Several other analysts also recently weighed in on AMR. B. Riley decreased their price objective on Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating for the company in a report on Tuesday, August 5th. Jefferies Financial Group lifted their price objective on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a "hold" rating in a report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $160.50.

Alpha Metallurgical Resources Trading Down 2.7%

Shares of AMR stock traded down $3.7920 on Friday, reaching $137.3280. The company's stock had a trading volume of 443,282 shares, compared to its average volume of 335,777. The stock's fifty day simple moving average is $122.49 and its 200-day simple moving average is $128.90. Alpha Metallurgical Resources has a 1 year low of $97.41 and a 1 year high of $255.04. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -48.23 and a beta of 0.59.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its earnings results on Friday, August 8th. The energy company reported ($0.38) earnings per share for the quarter, beating analysts' consensus estimates of ($2.38) by $2.00. The firm had revenue of $550.27 million during the quarter, compared to analyst estimates of $552.15 million. Alpha Metallurgical Resources had a negative net margin of 1.57% and a negative return on equity of 2.28%. Alpha Metallurgical Resources's revenue for the quarter was down 31.6% compared to the same quarter last year. During the same period last year, the firm posted $4.49 earnings per share. Equities research analysts forecast that Alpha Metallurgical Resources will post 14.31 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Jason E. Whitehead sold 12,004 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $161.84, for a total value of $1,942,727.36. Following the sale, the chief operating officer owned 9,673 shares in the company, valued at $1,565,478.32. This represents a 55.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joshua Todd Munsey sold 2,135 shares of the company's 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 completion of the sale, the chief financial officer owned 4,466 shares in the company, valued at approximately $701,162. This represents a 32.34% decrease in their position. The disclosure for this sale can be found here. 16.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several hedge funds have recently bought and sold shares of AMR. Signaturefd LLC boosted its position in Alpha Metallurgical Resources by 306.1% in the 1st quarter. Signaturefd LLC now owns 199 shares of the energy company's stock worth $25,000 after purchasing an additional 150 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of Alpha Metallurgical Resources by 214.3% during the 1st quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company's stock worth $28,000 after buying an additional 150 shares during the period. Summit Securities Group LLC acquired a new position in shares of Alpha Metallurgical Resources during the 1st quarter worth approximately $38,000. Public Employees Retirement System of Ohio acquired a new position in shares of Alpha Metallurgical Resources during the 4th quarter worth approximately $60,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Alpha Metallurgical Resources during the 1st quarter worth approximately $64,000. Hedge funds and other institutional investors own 84.29% of the company's stock.

Alpha Metallurgical Resources Company Profile

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.