Alpha Metallurgical Resources (NYSE:AMR) Trading 12.3% Higher - Here's What Happened

Key Points

• Alpha Metallurgical Resources shares jumped 12.3% to $190.31 in mid-day trading, despite volume running 45% below the average session level.
• Analyst sentiment remains cautious: six analysts rate the stock Hold and one rates it Sell, producing an average “Reduce” rating and a $177 price target.
• The company slightly exceeded quarterly EPS expectations, reporting a $0.96 loss per share versus the estimated $0.97 loss, but revenue fell 10.4% year over year to $421.3 million and missed estimates.

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) rose 12.3% during mid-day trading on Wednesday . The stock traded as high as $185.88 and last traded at $190.31. Approximately 154,334 shares were traded during trading, a decline of 45% from the average session volume of 278,572 shares. The stock had previously closed at $169.44.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group began coverage on shares of Alpha Metallurgical Resources in a research report on Friday, July 10th. They issued a "neutral" rating and a $165.00 price objective on the stock. Weiss Ratings cut Alpha Metallurgical Resources from a "sell (d)" rating to a "sell (e+)" rating in a report on Tuesday, August 11th. Atlantic Securities set a $194.00 price target on Alpha Metallurgical Resources in a research note on Thursday, April 30th. B. Riley Financial cut their price target on Alpha Metallurgical Resources from $194.00 to $189.00 and set a "neutral" rating on the stock in a report on Tuesday, July 28th. Finally, Zacks Research upgraded Alpha Metallurgical Resources from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 29th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Alpha Metallurgical Resources has an average rating of "Reduce" and an average price target of $177.00.

Alpha Metallurgical Resources Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.41 and a quick ratio of 2.37. The stock has a 50-day moving average price of $159.27 and a 200-day moving average price of $181.09. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of -52.61 and a beta of 0.65.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share for the quarter, topping analysts' consensus estimates of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%.The business had revenue of $421.29 million for the quarter, compared to analyst estimates of $521.61 million. During the same period in the previous year, the firm earned ($0.38) EPS. The firm's revenue was down 10.4% compared to the same quarter last year. As a group, analysts forecast that Alpha Metallurgical Resources, Inc. will post 0.2 earnings per share for the current year.

Insider Buying and Selling at Alpha Metallurgical Resources

In other news, EVP Mark Matthew Manno sold 460 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $214.64, for a total transaction of $98,734.40. Following the completion of the sale, the executive vice president owned 3,966 shares in the company, valued at approximately $851,262.24. This trade represents a 10.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kenneth S. Courtis bought 10,000 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average cost of $200.73 per share, with a total value of $2,007,300.00. Following the acquisition, the director directly owned 985,394 shares in the company, valued at $197,798,137.62. This trade represents a 1.03% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 18.20% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Dalal Street LLC grew its position in shares of Alpha Metallurgical Resources by 2.1% during the 4th quarter. Dalal Street LLC now owns 543,000 shares of the energy company's stock worth $108,535,000 after purchasing an additional 11,000 shares in the last quarter. Kettle Hill Capital Management LLC acquired a new stake in shares of Alpha Metallurgical Resources in the fourth quarter valued at approximately $4,823,000. Goehring & Rozencwajg Associates LLC boosted its stake in shares of Alpha Metallurgical Resources by 206.8% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company's stock valued at $49,683,000 after buying an additional 163,144 shares during the period. Marnell Management LLC bought a new stake in shares of Alpha Metallurgical Resources in the fourth quarter valued at approximately $1,116,000. Finally, Impala Asset Management LLC bought a new stake in shares of Alpha Metallurgical Resources in the fourth quarter valued at approximately $4,397,000. 84.29% of the stock is owned by institutional investors.

Alpha Metallurgical Resources Company Profile

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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