Alpha Metallurgical Resources (NYSE:AMR) Shares Up 5.7% Following Analyst Upgrade

Alpha Metallurgical Resources, Inc. (NYSE:AMR) shares were up 5.7% during mid-day 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. Approximately 23,983 shares traded hands during trading, a decline of 90% from the average daily volume of 238,406 shares. The stock had previously closed at $296.64.

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

Insider Transactions at Alpha Metallurgical Resources

In other news, Director David J. Stetson sold 4,502 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $388.26, for a total value of $1,747,946.52. Following the sale, the director now directly owns 20,104 shares in the company, valued at approximately $7,805,579.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alpha Metallurgical Resources news, CEO Charles Andrew Eidson sold 30,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $363.06, for a total value of $10,891,800.00. Following the completion of the sale, the chief executive officer now directly owns 50,025 shares of the company’s stock, valued at approximately $18,162,076.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David J. Stetson sold 4,502 shares of the 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 owns 20,104 shares in the company, valued at $7,805,579.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,971 shares of company stock valued at $55,479,986. 16.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stratos Wealth Advisors LLC increased its position in shares of Alpha Metallurgical Resources by 0.5% in the 4th quarter. Stratos Wealth Advisors LLC now owns 6,631 shares of the energy company’s stock valued at $2,247,000 after acquiring an additional 31 shares during the period. SummerHaven Investment Management LLC boosted its holdings in Alpha Metallurgical Resources by 0.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 4,802 shares of the energy company’s stock valued at $1,627,000 after purchasing an additional 35 shares during the last quarter. Measured Wealth Private Client Group LLC lifted its holdings in Alpha Metallurgical Resources by 5.0% in the first quarter. Measured Wealth Private Client Group LLC now owns 819 shares of the energy company’s stock valued at $271,000 after acquiring an additional 39 shares during the period. American International Group Inc. grew its position in Alpha Metallurgical Resources by 1.1% during the fourth quarter. American International Group Inc. now owns 6,300 shares of the energy company’s stock valued at $2,135,000 after buying an additional 67 shares during the period. Finally, Meritage Portfolio Management raised its position in shares of Alpha Metallurgical Resources by 5.6% in the third quarter. Meritage Portfolio Management now owns 1,724 shares of the energy company’s stock worth $448,000 after acquiring an additional 92 shares during the period. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Stock Performance

The firm has a market capitalization of $3.95 billion, a PE ratio of 6.23 and a beta of 1.38. The firm’s 50 day moving average price is $334.71 and its 200-day moving average price is $324.80.

Alpha Metallurgical Resources (NYSE:AMR) last announced its earnings results 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 business had revenue of $864.07 million for the quarter, compared to analyst estimates of $845.35 million. Alpha Metallurgical Resources had a return on equity of 46.22% and a net margin of 20.80%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned $17.01 earnings per share. On average, equities research analysts expect that Alpha Metallurgical Resources, Inc. will post 29.82 earnings per share for the current fiscal year.

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.