Alpha Metallurgical Resources (NYSE:AMR) Shares Up 6.2% - Here's What Happened

Key Points

• Alpha Metallurgical Resources' shares saw a significant increase of 6.2%, closing at $151.69 after trading as high as $150.00.
• Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and an average price target of $160.50.
• The company reported earnings of ($0.38) per share, exceeding estimates of ($2.38), but experienced a 31.6% decline in revenue compared to the previous year.

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) shot up 6.2% on Monday . The stock traded as high as $150.00 and last traded at $151.69. 18,650 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 330,308 shares. The stock had previously closed at $142.90.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AMR. B. Riley decreased their target price on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. Jefferies Financial Group increased their price objective on shares of Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a "hold" rating in a research note on Monday, August 11th. Finally, Wall Street Zen upgraded shares of Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Alpha Metallurgical Resources currently has a consensus rating of "Hold" and an average price target of $160.50.

Alpha Metallurgical Resources Price Performance

The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -54.58 and a beta of 0.64. The stock's fifty day simple moving average is $134.72 and its two-hundred day simple moving average is $125.21.

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

Insiders Place Their Bets

In related news, COO Jason E. Whitehead sold 12,004 shares of the stock in a transaction dated Tuesday, August 12th. The shares were 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 of the company's stock, valued at $1,565,478.32. This trade represents a 55.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joshua Todd Munsey sold 2,135 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $157.00, for a total transaction of $335,195.00. Following the completion of the sale, the chief financial officer directly owned 4,466 shares in the company, valued at approximately $701,162. This trade represents a 32.34% decrease in their position. The disclosure for this sale can be found here. 16.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Alpha Metallurgical Resources

Large investors have recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in Alpha Metallurgical Resources during the 4th quarter valued at about $1,862,000. Janus Henderson Group PLC increased its stake in Alpha Metallurgical Resources by 48.6% during the 4th quarter. Janus Henderson Group PLC now owns 28,806 shares of the energy company's stock valued at $5,767,000 after buying an additional 9,423 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Alpha Metallurgical Resources by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,253 shares of the energy company's stock valued at $1,251,000 after buying an additional 257 shares during the period. Man Group plc increased its stake in Alpha Metallurgical Resources by 22.0% during the 4th quarter. Man Group plc now owns 11,051 shares of the energy company's stock valued at $2,212,000 after buying an additional 1,995 shares during the period. Finally, ProShare Advisors LLC increased its stake in Alpha Metallurgical Resources by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 3,312 shares of the energy company's stock valued at $663,000 after buying an additional 1,019 shares during the period. Institutional investors and hedge funds own 84.29% of the company's stock.

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.

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