Alpha Metallurgical Resources (NYSE:AMR) Trading Up 6.2% - What's Next?

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.

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report)'s stock price traded up 6.2% during trading on Monday . The stock traded as high as $150.00 and last traded at $151.69. 18,650 shares were traded 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.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group upped their price objective 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. Wall Street Zen upgraded shares of Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, B. Riley lowered their price objective on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating for the company in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $160.50.

Alpha Metallurgical Resources Stock Performance

The stock has a market capitalization of $2.17 billion, a P/E ratio of -58.25 and a beta of 0.64. The stock's fifty day simple moving average is $139.28 and its two-hundred day simple moving average is $126.26.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The energy company reported ($0.38) EPS for the quarter, beating 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 analyst estimates of $552.15 million. During the same period in the prior year, the firm posted $4.49 EPS. The company's quarterly revenue was down 31.6% on a year-over-year basis. As a group, analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Jason E. Whitehead sold 12,004 shares of the company's stock in a transaction on 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 directly owned 9,673 shares of the company's stock, valued at approximately $1,565,478.32. This represents a 55.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Joshua Todd Munsey sold 2,135 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were 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 represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 16.00% of the company's stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

A number of institutional investors have recently modified their holdings of the company. Signaturefd LLC boosted its stake in Alpha Metallurgical Resources by 306.1% during 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 boosted its stake in Alpha Metallurgical Resources by 214.3% during 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 bought a new position in Alpha Metallurgical Resources during the first quarter worth $38,000. Public Employees Retirement System of Ohio bought a new position in Alpha Metallurgical Resources during the fourth quarter worth $60,000. Finally, Opal Wealth Advisors LLC bought a new position in Alpha Metallurgical Resources during the first quarter worth $64,000. 84.29% of the stock is owned by institutional investors.

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.