Alpha Metallurgical Resources (NYSE:AMR) Trading 8.7% Higher - Here's What Happened

Key Points

• Alpha Metallurgical Resources shares jumped 8.7% on Monday, trading as high as $218.59 before finishing near $216.20, though volume was well below average.
• Recent analyst sentiment remains cautious: most firms rate the stock Hold or Sell, and MarketBeat shows an average rating of Reduce with a $195.33 price target.
• The company’s latest earnings met EPS expectations at ($0.86), but revenue came in below estimates at $447.32 million; insiders and institutional investors have also been active in the stock.

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) shares traded up 8.7% during trading on Monday . The stock traded as high as $218.59 and last traded at $216.20. 79,201 shares traded hands during trading, a decline of 72% from the average session volume of 280,709 shares. The stock had previously closed at $198.97.

Analyst Ratings Changes

Several analysts have recently commented on the company. Benchmark reiterated a "hold" rating on shares of Alpha Metallurgical Resources in a report on Monday, March 2nd. B. Riley Financial raised their target price on Alpha Metallurgical Resources from $203.00 to $207.00 and gave the stock a "neutral" rating in a research note on Thursday, March 5th. Atlantic Securities set a $194.00 target price on Alpha Metallurgical Resources in a research note on Thursday, April 30th. Zacks Research lowered Alpha Metallurgical Resources from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 5th. Finally, Jefferies Financial Group restated a "hold" rating and issued a $185.00 target price on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Alpha Metallurgical Resources has an average rating of "Reduce" and an average price target of $195.33.

Alpha Metallurgical Resources Trading Up 8.8%

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.81 and a current ratio of 3.67. The company has a 50 day moving average of $195.16 and a two-hundred day moving average of $193.68. The stock has a market cap of $2.75 billion, a PE ratio of -71.94 and a beta of 0.62.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The energy company reported ($0.86) earnings per share for the quarter, meeting the consensus estimate of ($0.86). Alpha Metallurgical Resources had a negative return on equity of 2.47% and a negative net margin of 1.83%.The firm had revenue of $447.32 million during the quarter, compared to analyst estimates of $535.15 million. During the same quarter in the previous year, the business earned ($2.60) EPS. Alpha Metallurgical Resources's revenue for the quarter was down 1.3% compared to the same quarter last year. Sell-side analysts anticipate that Alpha Metallurgical Resources, Inc. will post 11.98 earnings per share for the current fiscal year.

Insider Activity at Alpha Metallurgical Resources

In related news, CFO Joshua Todd Munsey sold 2,523 shares of Alpha Metallurgical Resources stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $183.24, for a total value of $462,314.52. Following the completion of the transaction, the chief financial officer owned 4,735 shares in the company, valued at $867,641.40. The trade was a 34.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth S. Courtis purchased 25,000 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average price of $176.23 per share, with a total value of $4,405,750.00. Following the purchase, the director owned 841,537 shares in the company, valued at $148,304,065.51. This represents a 3.06% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 73,000 shares of company stock worth $13,368,910 in the last 90 days. Corporate insiders own 18.20% of the company's stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp increased its stake in shares of Alpha Metallurgical Resources by 27.2% in the 2nd quarter. State Street Corp now owns 865,934 shares of the energy company's stock valued at $97,400,000 after purchasing an additional 185,281 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Alpha Metallurgical Resources by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 721,872 shares of the energy company's stock valued at $148,192,000 after purchasing an additional 38,300 shares in the last quarter. Continental General Insurance Co. increased its stake in Alpha Metallurgical Resources by 6.4% during the 4th quarter. Continental General Insurance Co. now owns 644,025 shares of the energy company's stock worth $128,728,000 after buying an additional 38,576 shares in the last quarter. Dalal Street LLC increased its stake in 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 buying an additional 11,000 shares in the last quarter. Finally, Gendell Jeffrey L increased its stake in Alpha Metallurgical Resources by 4.0% during the 4th quarter. Gendell Jeffrey L now owns 494,072 shares of the energy company's stock worth $98,755,000 after buying an additional 19,033 shares in the last quarter. Hedge funds and other institutional investors own 84.29% of the company's stock.

About Alpha Metallurgical Resources

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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