Alpha Metallurgical Resources (NYSE:AMR) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Alpha Metallurgical Resources from “sell” to “hold.” Overall analyst sentiment remains cautious: six analysts rate the stock Hold and one Sell, with a consensus “Reduce” rating and a $178 price target.
• The company reported quarterly revenue of $562.25 million, slightly above estimates and up 6.7% year over year, but its loss of $0.73 per share was wider than analysts expected.
• Shares opened at $154.10, below their 50-day and 200-day moving averages; company insiders purchased 35,000 shares worth about $7.4 million over the past three months.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued reports about the stock. UBS Group increased their price objective on shares of Alpha Metallurgical Resources from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, October 8th. Zacks Research raised shares of Alpha Metallurgical Resources from a "strong sell" rating to a "hold" rating in a research note on Monday, October 19th. Weiss Ratings restated a "sell (e+)" rating on shares of Alpha Metallurgical Resources in a research report on Wednesday, November 4th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $160.00 price target on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 21st. Finally, B. Riley Financial decreased their price target on shares of Alpha Metallurgical Resources from $185.00 to $178.00 and set a "neutral" rating on the stock in a research note on Monday, October 26th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Alpha Metallurgical Resources presently has a consensus rating of "Reduce" and a consensus target price of $178.00.

Alpha Metallurgical Resources Stock Down 0.8%

Shares of AMR stock opened at $154.10 on Friday. Alpha Metallurgical Resources has a 1-year low of $133.64 and a 1-year high of $253.82. The stock has a 50 day simple moving average of $173.58 and a 200-day simple moving average of $181.55.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last released its quarterly earnings results on Friday, November 6th. The energy company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.09). The company had revenue of $562.25 million during the quarter, compared to analyst estimates of $558.84 million. Alpha Metallurgical Resources had a negative net margin of 2.37% and a negative return on equity of 3.29%. Alpha Metallurgical Resources's revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.42) EPS. Analysts expect that Alpha Metallurgical Resources will post -1.99 EPS for the current year.

Insider Activity at Alpha Metallurgical Resources

In other news, Director Kenneth Courtis purchased 10,000 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The stock was purchased at an average cost of $225.83 per share, for a total transaction of $2,258,300.00. Following the completion of the transaction, the director owned 1,035,394 shares of the company's stock, valued at $233,823,027.02. This trade represents a 0.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders purchased 35,000 shares of company stock worth $7,388,400 in the last three months. 18.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE acquired a new position in Alpha Metallurgical Resources during the second quarter worth about $8,763,000. Squarepoint Ops LLC purchased a new stake in Alpha Metallurgical Resources during the 2nd quarter valued at about $3,728,000. NWF Advisory Services Inc. grew its stake in Alpha Metallurgical Resources by 46.5% during the 2nd quarter. NWF Advisory Services Inc. now owns 57,925 shares of the energy company's stock valued at $9,554,000 after acquiring an additional 18,390 shares in the last quarter. Cibc World Market Inc. purchased a new stake in Alpha Metallurgical Resources during the 2nd quarter valued at about $1,741,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Alpha Metallurgical Resources in the 2nd quarter valued at about $8,983,000. Institutional investors and hedge funds own 84.29% of the company's stock.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc. is a U.S. coal producer focused primarily on metallurgical coal, a key input used to make steel. The company also produces thermal coal, which is used in electricity generation. Its mining operations are concentrated in Virginia and West Virginia, in the Central Appalachian coal region. Alpha sells coal to domestic and international customers, including steelmakers and power producers. The company operated as Contura Energy before adopting the Alpha Metallurgical Resources name in 2021, reflecting its emphasis on metallurgical coal and steelmaking markets.

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