Alpha Metallurgical Resources (NYSE:AMR) Shares Gap Up to $349.17

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $349.17, but opened at $360.00. Alpha Metallurgical Resources shares last traded at $344.95, with a volume of 134,371 shares trading hands.

Analysts Set New Price Targets

Separately, B. Riley decreased their price target on Alpha Metallurgical Resources from $381.00 to $374.00 and set a "buy" rating on the stock in a report on Monday.

Alpha Metallurgical Resources Stock Performance

The company has a market cap of $4.45 billion, a price-to-earnings ratio of 7.17 and a beta of 1.35. The firm's 50-day moving average price is $348.94 and its 200 day moving average price is $315.86.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last released its earnings results on Monday, February 26th. The energy company reported $12.88 EPS for the quarter, topping analysts' consensus estimates of $8.78 by $4.10. The firm had revenue of $959.90 million during the quarter, compared to analyst estimates of $796.65 million. Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. The business's quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $13.37 EPS. As a group, equities research analysts predict that Alpha Metallurgical Resources, Inc. will post 37.3 EPS for the current fiscal year.

Insider Activity at Alpha Metallurgical Resources

In related news, Director David J. Stetson sold 30,694 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $392.30, for a total value of $12,041,256.20. Following the sale, the director now directly owns 26,054 shares in the company, valued at approximately $10,220,984.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alpha Metallurgical Resources news, Director David J. Stetson sold 4,502 shares of Alpha Metallurgical Resources stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $388.26, for a total transaction of $1,747,946.52. Following the transaction, the director now directly owns 20,104 shares in the company, valued at $7,805,579.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David J. Stetson sold 30,694 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $392.30, for a total value of $12,041,256.20. Following the completion of the sale, the director now owns 26,054 shares of the company's stock, valued at $10,220,984.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 153,971 shares of company stock worth $55,479,986. 16.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several institutional investors have recently modified their holdings of the business. GAMMA Investing LLC bought a new position in Alpha Metallurgical Resources in the fourth quarter valued at approximately $33,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Alpha Metallurgical Resources during the fourth quarter worth $34,000. Quadrant Capital Group LLC bought a new stake in Alpha Metallurgical Resources in the 4th quarter valued at $35,000. Creekmur Asset Management LLC acquired a new position in Alpha Metallurgical Resources in the 4th quarter worth $36,000. Finally, Exchange Traded Concepts LLC acquired a new position in Alpha Metallurgical Resources in the 3rd quarter worth $41,000. 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.