Alpha Metallurgical Resources (NYSE:AMR) Stock Price Up 4.5% - Here's What Happened

Key Points

• Alpha Metallurgical Resources shares rose 4.5% to about $236.48, despite trading volume running 92% below the average session volume.
• Analysts remain cautious, with five Hold ratings and two Sell ratings producing a consensus “Reduce” rating and an average price target of $176, well below the current share price.
• The company slightly beat quarterly EPS expectations, reporting a loss of $0.96 per share, but revenue fell 10.4% year over year to $421.29 million and analysts expect a full-year loss of $2.40 per share.

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) was up 4.5% during trading on Monday . The company traded as high as $236.00 and last traded at $236.4820. Approximately 22,379 shares were traded during mid-day trading, a decline of 92% from the average session volume of 285,032 shares. The stock had previously closed at $226.23.

Analysts Set New Price Targets

Several brokerages have issued reports on AMR. Weiss Ratings lowered Alpha Metallurgical Resources from a "sell (d)" rating to a "sell (e+)" rating in a report on Tuesday, August 11th. Jefferies Financial Group reissued a "hold" rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Wall Street Zen downgraded Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. UBS Group began coverage on Alpha Metallurgical Resources in a research report on Friday, July 10th. They set a "neutral" rating and a $165.00 price target on the stock. Finally, B. Riley Financial reduced their price objective on Alpha Metallurgical Resources from $189.00 to $185.00 and set a "neutral" rating for the company in a research note on Thursday, August 20th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Alpha Metallurgical Resources has a consensus rating of "Reduce" and an average target price of $176.00.

Alpha Metallurgical Resources Trading Up 4.1%

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.41 and a quick ratio of 2.37. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -65.78 and a beta of 0.65. The business's 50 day simple moving average is $162.65 and its 200 day simple moving average is $181.34.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its earnings results on Friday, August 7th. The energy company reported ($0.96) EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $421.29 million during the quarter, compared to analysts' expectations of $521.61 million. During the same period in the prior year, the company earned ($0.38) earnings per share. The business's revenue was down 10.4% compared to the same quarter last year. Research analysts anticipate that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current year.

Insider Activity at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, COO Jason E. Whitehead sold 3,901 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $212.28, for a total transaction of $828,104.28. Following the completion of the sale, the chief operating officer directly owned 10,450 shares of the company's stock, valued at approximately $2,218,326. This trade represents a 27.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth S. Courtis bought 5,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was bought at an average price of $216.53 per share, for a total transaction of $1,082,650.00. Following the completion of the purchase, the director directly owned 1,020,394 shares in the company, valued at approximately $220,945,912.82. The trade was a 0.49% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 30,000 shares of company stock valued at $5,992,450. 18.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in shares of Alpha Metallurgical Resources by 55.0% in the 1st quarter. Royal Bank of Canada now owns 2,029 shares of the energy company's stock worth $254,000 after acquiring an additional 720 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Alpha Metallurgical Resources by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,548 shares of the energy company's stock worth $820,000 after purchasing an additional 295 shares in the last quarter. Millennium Management LLC lifted its position in Alpha Metallurgical Resources by 208.0% in the first quarter. Millennium Management LLC now owns 106,107 shares of the energy company's stock valued at $13,290,000 after purchasing an additional 71,653 shares during the period. Intech Investment Management LLC boosted its holdings in Alpha Metallurgical Resources by 48.3% in the 1st quarter. Intech Investment Management LLC now owns 13,149 shares of the energy company's stock valued at $1,647,000 after purchasing an additional 4,281 shares in the last quarter. Finally, Creative Planning increased its position in Alpha Metallurgical Resources by 14.5% during the 2nd quarter. Creative Planning now owns 3,465 shares of the energy company's stock worth $390,000 after purchasing an additional 438 shares during the period. 84.29% of the stock is owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc NYSE: AMR is a leading pure-play producer of high-grade metallurgical coal, primarily serving the global steelmaking industry. Headquartered in Bristol, Virginia, the company operates multiple underground and surface mining complexes across the central Appalachian and Illinois basins. Its production portfolio focuses on premium raw and semi-soft coking coal products tailored to meet the specifications of steel producers worldwide.

Formed in July 2021 through the spin-out of Contura Energy's metallurgical coal business, Alpha Metallurgical Resources has built a reputation for operational excellence and cost-efficient mining.

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