Alpha Metallurgical Resources, Inc. (NYSE:AMR) Stock Has Average Price Target of $179.75 According to Brokerages

Key Points

• Analysts remain cautious on Alpha Metallurgical Resources: Seven firms give the stock an average “Reduce” rating, with two sells and five holds. The average 12-month price target is $179.75, below the reported opening price of $183.88.
• Recent financial results were weak: The company reported a quarterly loss of $0.96 per share and revenue of $421.29 million, down 10.4% year over year and below analyst expectations of $521.61 million.
• Insiders and institutions continued buying: A director purchased 15,000 shares, while insiders bought 35,000 shares over 90 days. Institutional investors own 84.29% of the company, including a new BlackRock stake valued at approximately $299.2 million.

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) have earned an average rating of "Reduce" from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $179.75.

Several equities research analysts recently weighed in on the stock. B. Riley Financial dropped their price objective on shares of Alpha Metallurgical Resources from $189.00 to $185.00 and set a "neutral" rating on the stock in a research note on Thursday, August 20th. Weiss Ratings downgraded Alpha Metallurgical Resources from a "sell (d)" rating to a "sell (e+)" rating in a research note on Tuesday, August 11th. Zacks Research downgraded Alpha Metallurgical Resources from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 27th. UBS Group upped their target price on Alpha Metallurgical Resources from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, October 8th. Finally, Wall Street Zen cut Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th.

Alpha Metallurgical Resources Stock Performance

Alpha Metallurgical Resources stock opened at $183.88 on Wednesday. The company has a market cap of $2.33 billion, a PE ratio of -51.36 and a beta of 0.85. The company has a fifty day moving average price of $188.97 and a two-hundred day moving average price of $183.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.41 and a quick ratio of 2.37. Alpha Metallurgical Resources has a 12 month low of $133.64 and a 12 month high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last released its earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The firm had revenue of $421.29 million during the quarter, compared to analyst estimates of $521.61 million. During the same quarter in the previous year, the firm earned ($0.38) earnings per share. The firm's revenue for the quarter was down 10.4% compared to the same quarter last year. Research analysts expect that Alpha Metallurgical Resources will post -2.40 earnings per share for the current year.

Insider Transactions at Alpha Metallurgical Resources

In related news, Director Kenneth Courtis acquired 15,000 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average price of $193.50 per share, for a total transaction of $2,902,500.00. Following the transaction, the director directly owned 1,015,394 shares of the company's stock, valued at $196,478,739. This trade represents a 1.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders purchased 35,000 shares of company stock worth $7,388,400. Insiders own 18.20% of the company's stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Alpha Metallurgical Resources in the 2nd quarter valued at approximately $299,230,000. Dimensional Fund Advisors LP boosted its position in Alpha Metallurgical Resources by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 721,872 shares of the energy company's stock worth $148,192,000 after acquiring an additional 38,300 shares during the period. Crocodile Capital Partners GmbH grew its stake in shares of Alpha Metallurgical Resources by 0.4% in the second quarter. Crocodile Capital Partners GmbH now owns 245,119 shares of the energy company's stock worth $40,430,000 after purchasing an additional 1,000 shares in the last quarter. Goehring & Rozencwajg Associates LLC grew 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 worth $49,683,000 after purchasing an additional 163,144 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Alpha Metallurgical Resources in the second quarter worth $10,969,000. 84.29% of the stock is currently owned by institutional investors.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc is a U.S.-based producer of metallurgical coal, a key raw material used in the steelmaking process. The company operates underground and surface mines, primarily in Central Appalachia, and produces high-quality metallurgical coal for domestic and international steel producers.

The company's operations are concentrated in West Virginia and Virginia. In addition to mining, Alpha Metallurgical Resources manages coal processing, preparation, transportation, and marketing activities that support the delivery of its products to customers.

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