Alpha Metallurgical Resources (NYSE:AMR) Trading 5.7% Higher Following Analyst Upgrade

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) traded up 5.7% during trading on Tuesday after B. Riley raised their price target on the stock from $374.00 to $375.00. B. Riley currently has a buy rating on the stock. Alpha Metallurgical Resources traded as high as $313.55 and last traded at $313.55. 23,983 shares were traded during trading, a decline of 90% from the average session volume of 238,406 shares. The stock had previously closed at $296.64.

Separately, Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a report on Tuesday.

Insider Activity

In other Alpha Metallurgical Resources news, 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 value of $2,450,807.59. Following the sale, the chief accounting officer now owns 10,720 shares of the company’s stock, valued at approximately $3,963,291.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director David J. Stetson sold 30,694 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 26,054 shares of the company’s stock, valued at approximately $10,220,984.20. 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 dated Thursday, February 29th. The stock was sold at an average price of $369.71, for a total value of $2,450,807.59. Following the completion of the transaction, the chief accounting officer now owns 10,720 shares of the company’s stock, valued at approximately $3,963,291.20. The disclosure for this sale can be found here. Insiders sold a total of 153,971 shares of company stock worth $55,479,986 over the last 90 days. Corporate insiders own 16.40% of the company’s stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several institutional investors have recently modified their holdings of AMR. GAMMA Investing LLC bought a new stake in Alpha Metallurgical Resources in the fourth quarter worth $33,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Alpha Metallurgical Resources in the 4th quarter worth about $34,000. Quadrant Capital Group LLC bought a new position in Alpha Metallurgical Resources during the 4th quarter valued at about $35,000. Creekmur Asset Management LLC bought a new position in Alpha Metallurgical Resources during the 4th quarter valued at about $36,000. Finally, PNC Financial Services Group Inc. lifted its stake in Alpha Metallurgical Resources by 947.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 178 shares of the energy company’s stock worth $60,000 after purchasing an additional 161 shares during the last quarter. 84.29% of the stock is owned by institutional investors.

Alpha Metallurgical Resources Stock Up 2.7 %

The firm has a market cap of $3.96 billion, a P/E ratio of 6.25 and a beta of 1.38. The company’s 50 day simple moving average is $332.04 and its 200-day simple moving average is $325.40.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings data on Monday, May 6th. The energy company reported $9.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.61 by ($0.02). Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. The business had revenue of $864.07 million for the quarter, compared to analysts’ expectations of $845.35 million. During the same quarter in the previous year, the firm earned $17.01 EPS. Alpha Metallurgical Resources’s revenue was down 5.2% compared to the same quarter last year. Equities research analysts predict that Alpha Metallurgical Resources, Inc. will post 29.82 EPS for the current year.

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.