Alpha Metallurgical Resources (NYSE:AMR) Director Buys $7,845,200.00 in Stock

Key Points

• Kenneth Courtis, a director at Alpha Metallurgical Resources, purchased 55,000 shares of the company's stock at an average price of $142.64, totaling $7,845,200, which increased his total holdings to approximately $97.2 million.
• The company's stock has shown a 12-month range from $97.41 to $255.04, currently trading at $158.85, which reflects a 0.7% increase during recent trading.
• Alpha Metallurgical Resources reported a loss of ($0.38) earnings per share for the last quarter, but beat the consensus estimate significantly by $2.00, indicating signs of performance improvement despite a 31.6% decline in revenue year-over-year.

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) Director Kenneth S. Courtis bought 55,000 shares of the stock in a transaction dated Friday, September 12th. The stock was acquired at an average price of $142.64 per share, with a total value of $7,845,200.00. Following the completion of the purchase, the director owned 681,537 shares of the company's stock, valued at $97,214,437.68. This represents a 8.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Alpha Metallurgical Resources Stock Up 1.0%

Shares of NYSE:AMR traded up $1.61 during trading on Friday, reaching $166.00. 581,650 shares of the company traded hands, compared to its average volume of 279,928. The firm has a market capitalization of $2.17 billion, a PE ratio of -58.25 and a beta of 0.64. Alpha Metallurgical Resources, Inc. has a 52 week low of $97.41 and a 52 week high of $255.04. The company's 50 day moving average is $139.28 and its two-hundred day moving average is $126.21.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last released its earnings results on Friday, August 8th. The energy company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.38) by $2.00. The business had revenue of $550.27 million during the quarter, compared to the consensus estimate of $552.15 million. Alpha Metallurgical Resources had a negative return on equity of 2.28% and a negative net margin of 1.57%.The business's revenue for the quarter was down 31.6% on a year-over-year basis. During the same period last year, the business posted $4.49 earnings per share. As a group, research analysts anticipate that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. B. Riley decreased their price objective on Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating on the stock in a research report on Tuesday, August 5th. Finally, Jefferies Financial Group lifted 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. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Alpha Metallurgical Resources presently has a consensus rating of "Hold" and an average price target of $160.50.

Institutional Investors Weigh In On Alpha Metallurgical Resources

A number of institutional investors have recently made changes to their positions in AMR. GAMMA Investing LLC lifted its stake in shares of Alpha Metallurgical Resources by 11,100.3% in the 1st quarter. GAMMA Investing LLC now owns 34,945 shares of the energy company's stock valued at $4,377,000 after acquiring an additional 34,633 shares during the last quarter. Mutual Advisors LLC bought a new stake in Alpha Metallurgical Resources in the 1st quarter valued at $603,000. SG Americas Securities LLC grew its holdings in Alpha Metallurgical Resources by 204.5% during the 1st quarter. SG Americas Securities LLC now owns 8,376 shares of the energy company's stock valued at $1,049,000 after purchasing an additional 5,625 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Alpha Metallurgical Resources by 40.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,385 shares of the energy company's stock valued at $173,000 after acquiring an additional 397 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Alpha Metallurgical Resources by 267.9% during the first quarter. AQR Capital Management LLC now owns 42,161 shares of the energy company's stock worth $5,281,000 after purchasing an additional 30,700 shares during the last quarter. 84.29% of the stock is owned by institutional investors and hedge funds.

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.