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

Alpha Metallurgical Resources, Inc. (NYSE:AMR) shares 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.

Analysts Set New Price Targets

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

Alpha Metallurgical Resources Stock Down 1.8 %

The firm has a fifty day moving average price of $348.94 and a two-hundred day moving average price of $315.86. The stock has a market capitalization of $4.46 billion, a P/E ratio of 7.17 and a beta of 1.35.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Monday, February 26th. The energy company reported $12.88 earnings per share for the quarter, beating the consensus estimate of $8.78 by $4.10. Alpha Metallurgical Resources had a return on equity of 46.22% and a net margin of 20.80%. The firm had revenue of $959.90 million during the quarter, compared to the consensus estimate of $796.65 million. During the same period last year, the company earned $13.37 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. Sell-side analysts anticipate that Alpha Metallurgical Resources, Inc. will post 37.3 earnings per share for the current fiscal year.

Insider Activity at Alpha Metallurgical Resources

In related news, Director David J. Stetson sold 30,694 shares of the stock in a transaction on Wednesday, February 28th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alpha Metallurgical Resources news, Director David J. Stetson sold 4,502 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $388.26, for a total value of $1,747,946.52. Following the transaction, the director now directly owns 20,104 shares of the company’s stock, valued at $7,805,579.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David J. Stetson sold 30,694 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was 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 directly owns 26,054 shares in the company, valued at $10,220,984.20. The disclosure for this sale can be found here. Insiders have sold 153,971 shares of company stock valued at $55,479,986 over the last ninety days. Insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors raised its stake in shares of Alpha Metallurgical Resources by 344.0% in the first quarter. Captrust Financial Advisors now owns 222 shares of the energy company’s stock worth $29,000 after buying an additional 172 shares during the period. Macquarie Group Ltd. bought a new position in shares of Alpha Metallurgical Resources in the second quarter worth about $32,000. GAMMA Investing LLC bought a new position in shares of Alpha Metallurgical Resources in the fourth quarter worth about $33,000. Wetzel Investment Advisors Inc. bought a new position in shares of Alpha Metallurgical Resources in the fourth quarter worth about $34,000. Finally, Quadrant Capital Group LLC bought a new position in shares of Alpha Metallurgical Resources in the fourth quarter worth about $35,000. 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.