Kenneth S. Courtis Sells Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR)

On December 13th, 2023, Kenneth S. Courtis, a director at Alpha Metallurgical Resources, Inc. (NYSE:AMR), sold 10,621 shares of the company's stock. The shares were sold at an average price of $228.73 each, resulting in a total transaction value of $2,429,341.33. After this sale, Courtis now holds 603,342 shares of Alpha Metallurgical, with a total value of approximately $138,002,415.66. This transaction reflects a decrease of 1.73% in his ownership stake. The sale was reported in a legal filing submitted to the Securities and Exchange Commission (SEC) and can be accessed through their official website.

Alpha Metallurgical Resources Price Performance

As of Wednesday, NYSE AMR opened at $211.41. The company has a market capitalization of $2.75 billion, a price-to-earnings (P/E) ratio of 7.76, and a beta of 1.46, which indicates its volatility compared to the market. Alpha Metallurgical has a 50-day simple moving average of $227.78 and a 200-day simple moving average of $250.67. Over the past year, the stock reached a low of $185.00 and peaked at $452.00.

Recently, Alpha Metallurgical Resources reported its quarterly earnings results. On November 1st, the company announced earnings per share (EPS) of $0.29 for the quarter, falling short of analysts' expectations of $1.60 by $1.31. The company's revenue for the quarter was $671.90 million, slightly below the consensus estimate of $672.95 million. Despite a solid return on equity of 22.65% and a net margin of 11.08%, revenue decreased by 9.4% compared to the previous year. For the current year, analysts predict that Alpha Metallurgical Resources will achieve an EPS of 16.87.

Analyst Upgrades and Downgrades

Alpha Metallurgical Resources has recently been the subject of several analyst reports. B. Riley lowered its price target for the company from $374.00 to $336.00 and maintained a "buy" rating. Meanwhile, Benchmark reaffirmed a "hold" rating in a report dated November 4th.

Institutional Investors' Involvement with Alpha Metallurgical Resources

Large institutional investors have actively participated in buying and selling shares of Alpha Metallurgical Resources. For instance, Federated Hermes Inc. recently acquired a new position valued at about $25,000 during the second quarter. GAMMA Investing LLC increased its stake by 124.6% in the third quarter and now owns 137 shares worth $32,000. Other notable acquisitions include Harbor Capital Advisors and Sound Income Strategies, which obtained new positions valued at approximately $36,000 and $40,000, respectively. Currently, 84.29% of the shares are held by institutional investors and hedge funds.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc. is a mining company specializing in the production, processing, and sale of metallurgical and thermal coal in Virginia and West Virginia. The company operates twenty-two active mines and nine coal preparation and load-out facilities. Previously known as Contura Energy, Inc., Alpha Metallurgical Resources rebranded in February 2021.

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