Kenneth S. Courtis Purchases 53,000 Shares of Alpha Metallurgical Resources (NYSE:AMR) Stock

Key Points

• Kenneth Courtis, a director at Alpha Metallurgical Resources (NYSE:AMR), purchased 53,000 shares of the company's stock for approximately $8.2 million, increasing his ownership by 7.78%.
• Despite reporting a loss of ($0.38) EPS, Alpha Metallurgical's performance exceeded analysts' expectations, surpassing the consensus estimate of ($2.38) EPS by $2.00.
• Brokerages have recently adjusted their price targets for AMR, with Jefferies raising it from $110.00 to $150.00 while maintaining a "hold" rating, and B. Riley decreasing its target from $173.00 to $171.00 with a "buy" rating.

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) Director Kenneth S. Courtis bought 53,000 shares of the stock in a transaction dated Monday, September 15th. The shares were purchased at an average cost of $154.68 per share, for a total transaction of $8,198,040.00. Following the completion of the transaction, the director directly owned 734,537 shares of the company's stock, valued at $113,618,183.16. This trade represents a 7.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Alpha Metallurgical Resources Price Performance

Shares of NYSE:AMR traded up $1.61 during trading on Friday, reaching $166.00. 581,650 shares of the stock were exchanged, compared to its average volume of 279,928. Alpha Metallurgical Resources, Inc. has a 1-year low of $97.41 and a 1-year high of $255.04. The stock has a fifty day moving average of $139.28 and a two-hundred day moving average of $126.26. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -58.25 and a beta of 0.64.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last issued its earnings results on Friday, August 8th. The energy company reported ($0.38) earnings per share for the quarter, topping analysts' consensus estimates of ($2.38) by $2.00. Alpha Metallurgical Resources had a negative return on equity of 2.28% and a negative net margin of 1.57%.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 earned $4.49 earnings per share. Alpha Metallurgical Resources's revenue for the quarter was down 31.6% on a year-over-year basis. Sell-side analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Jefferies Financial Group upped their price target on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a "hold" rating in a report on Monday, August 11th. Wall Street Zen upgraded Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, B. Riley decreased their price target on Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating for the company in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $160.50.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AMR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Alpha Metallurgical Resources by 4.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,253 shares of the energy company's stock valued at $1,251,000 after purchasing an additional 257 shares during the period. Man Group plc grew its stake in shares of Alpha Metallurgical Resources by 22.0% during the 4th quarter. Man Group plc now owns 11,051 shares of the energy company's stock worth $2,212,000 after acquiring an additional 1,995 shares during the period. ProShare Advisors LLC grew its stake in shares of Alpha Metallurgical Resources by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 3,312 shares of the energy company's stock worth $663,000 after acquiring an additional 1,019 shares during the period. Sherbrooke Park Advisers LLC bought a new position in shares of Alpha Metallurgical Resources during the 4th quarter worth $236,000. Finally, Tidal Investments LLC grew its stake in shares of Alpha Metallurgical Resources by 25.8% during the 4th quarter. Tidal Investments LLC now owns 9,519 shares of the energy company's stock worth $1,905,000 after acquiring an additional 1,955 shares during the period. Institutional investors own 84.29% of the company's stock.

About Alpha Metallurgical Resources

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.