Benchmark Reaffirms "Hold" Rating for Alpha Metallurgical Resources (NYSE:AMR)

Benchmark reiterated their hold rating on shares of Alpha Metallurgical Resources (NYSE:AMR - Free Report) in a report released on Tuesday morning, Benzinga reports.

Separately, B. Riley lowered their price objective on shares of Alpha Metallurgical Resources from $381.00 to $374.00 and set a buy rating on the stock in a research note on Monday, April 15th.

Alpha Metallurgical Resources Stock Up 2.7 %

NYSE AMR traded up $7.97 on Tuesday, reaching $304.61. 219,124 shares of the stock traded hands, compared to its average volume of 240,804. Alpha Metallurgical Resources has a 12 month low of $132.72 and a 12 month high of $452.00. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 6.25 and a beta of 1.38. The firm's fifty day simple moving average is $332.04 and its 200 day simple moving average is $325.40.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its quarterly earnings data on Monday, May 6th. The energy company reported $9.59 earnings per share for the quarter, missing the consensus estimate of $9.61 by ($0.02). The firm had revenue of $864.07 million during the quarter, compared to analyst estimates of $845.35 million. Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. The company's quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $17.01 EPS. As a group, equities research analysts forecast that Alpha Metallurgical Resources will post 29.82 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Kenneth S. Courtis sold 22,802 shares of the company's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $302.81, for a total transaction of $6,904,673.62. Following the completion of the sale, the director now directly owns 638,234 shares of the company's stock, valued at $193,263,637.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Kenneth S. Courtis sold 22,802 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $302.81, for a total value of $6,904,673.62. Following the completion of the sale, the director now owns 638,234 shares in the company, valued at approximately $193,263,637.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Roger Lee Nicholson sold 6,629 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $369.71, for a total transaction of $2,450,807.59. Following the transaction, the chief accounting officer now owns 10,720 shares in the company, valued at $3,963,291.20. The disclosure for this sale can be found here. Insiders have sold 153,971 shares of company stock worth $55,479,986 in the last three months. 16.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new position in shares of Alpha Metallurgical Resources in the 4th quarter valued at about $2,465,000. Raymond James & Associates lifted its position in Alpha Metallurgical Resources by 203.8% in the 3rd quarter. Raymond James & Associates now owns 9,546 shares of the energy company's stock worth $2,479,000 after buying an additional 6,404 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of Alpha Metallurgical Resources during the 4th quarter valued at $2,302,000. Invesco Ltd. grew its holdings in shares of Alpha Metallurgical Resources by 180.9% during the 3rd quarter. Invesco Ltd. now owns 115,816 shares of the energy company's stock valued at $30,081,000 after acquiring an additional 74,583 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Alpha Metallurgical Resources in the fourth quarter worth $2,000,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Company Profile

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.