Alpha Metallurgical Resources (NYSE:AMR) Shares Gap Up to $280.53

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s share price gapped up prior to trading on Monday . The stock had previously closed at $280.53, but opened at $298.84. Alpha Metallurgical Resources shares last traded at $314.60, with a volume of 75,970 shares traded.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Tuesday, May 7th. B. Riley upped their price objective on shares of Alpha Metallurgical Resources from $374.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, May 7th.

Alpha Metallurgical Resources Stock Performance

The stock has a 50 day moving average of $304.72 and a 200-day moving average of $337.44. The company has a market cap of $4.10 billion, a PE ratio of 7.59 and a beta of 1.36.

Alpha Metallurgical Resources (NYSE:AMR) last issued its earnings results on Monday, May 6th. The energy company reported $9.59 EPS for the quarter, missing analysts’ consensus estimates of $9.61 by ($0.02). Alpha Metallurgical Resources had a net margin of 16.89% and a return on equity of 36.77%. The firm had revenue of $864.07 million during the quarter, compared to analysts’ expectations of $845.35 million. Alpha Metallurgical Resources’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $17.01 EPS. Equities research analysts forecast that Alpha Metallurgical Resources, Inc. will post 28.91 EPS for the current year.

Insider Transactions at Alpha Metallurgical Resources

In related news, CAO Roger Lee Nicholson sold 3,593 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $290.16, for a total transaction of $1,042,544.88. Following the completion of the transaction, the chief accounting officer now directly owns 6,127 shares in the company, valued at $1,777,810.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale grew its position in shares of Alpha Metallurgical Resources by 248.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,385 shares of the energy company’s stock valued at $450,000 after acquiring an additional 988 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in shares of Alpha Metallurgical Resources by 12.9% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 3,500 shares of the energy company’s stock valued at $1,159,000 after buying an additional 400 shares in the last quarter. Invst LLC acquired a new position in shares of Alpha Metallurgical Resources during the 1st quarter worth approximately $681,000. Vima LLC purchased a new position in shares of Alpha Metallurgical Resources during the 1st quarter valued at approximately $195,000. Finally, Comerica Bank grew its stake in Alpha Metallurgical Resources by 13.5% in the 1st quarter. Comerica Bank now owns 6,156 shares of the energy company’s stock valued at $2,039,000 after acquiring an additional 734 shares during the period. Hedge funds and other 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.