Alpha Metallurgical Resources (NYSE:AMR) Shares Gap Up to $349.17

Alpha Metallurgical Resources, Inc. (NYSE:AMR) gapped up prior to trading on Wednesday . The stock had previously closed at $349.17, but opened at $360.00. Alpha Metallurgical Resources shares last traded at $344.95, with a volume of 134,371 shares.

Analyst Ratings Changes

Separately, B. Riley cut their price target on shares of Alpha Metallurgical Resources from $381.00 to $374.00 and set a “buy” rating on the stock in a report on Monday.

Alpha Metallurgical Resources Price Performance

The stock’s fifty day moving average price is $347.89 and its 200 day moving average price is $316.19. The stock has a market capitalization of $4.29 billion, a P/E ratio of 6.93 and a beta of 1.35.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings data on Monday, February 26th. The energy company reported $12.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.78 by $4.10. Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. The company had revenue of $959.90 million during the quarter, compared to analyst estimates of $796.65 million. During the same period in the prior year, the firm earned $13.37 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, sell-side analysts expect that Alpha Metallurgical Resources, Inc. will post 29.82 earnings per share for the current year.

Insider Buying and Selling

In related news, Director David J. Stetson sold 30,694 shares of the company’s 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 sale, the director now directly owns 26,054 shares of the company’s stock, valued at $10,220,984.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alpha Metallurgical Resources news, insider Daniel E. Horn sold 100 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $360.29, for a total transaction of $36,029.00. Following the completion of the sale, the insider now directly owns 6,462 shares of the company’s stock, valued at $2,328,193.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $12,041,256.20. Following the sale, the director now directly owns 26,054 shares of the company’s stock, valued at $10,220,984.20. The disclosure for this sale can be found here. Insiders sold a total of 153,971 shares of company stock valued at $55,479,986 over the last three months. 15.00% of the stock is owned by company insiders.

Institutional Trading of Alpha Metallurgical Resources

Several hedge funds have recently modified their holdings of the company. Advisor Group Holdings Inc. raised its position in shares of Alpha Metallurgical Resources by 16,462.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,325 shares of the energy company’s stock valued at $174,000 after purchasing an additional 1,317 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Alpha Metallurgical Resources by 111.5% in the 1st quarter. JPMorgan Chase & Co. now owns 87,196 shares of the energy company’s stock valued at $11,506,000 after purchasing an additional 45,975 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Alpha Metallurgical Resources in the 1st quarter valued at approximately $200,000. Ergoteles LLC purchased a new position in shares of Alpha Metallurgical Resources in the 1st quarter valued at approximately $3,044,000. Finally, XTX Topco Ltd purchased a new position in shares of Alpha Metallurgical Resources in the 1st quarter valued at approximately $255,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

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.