Kenneth S. Courtis Sells Shares of Alpha Metallurgical Resources, Inc.

On December 13th, Kenneth S. Courtis, the director of Alpha Metallurgical Resources, Inc. (NYSE:AMR), executed the sale of 10,621 shares of the company’s stock. This sale took place at an average price of $228.73 per share, leading to a total value of $2,429,341.33. After the transaction, Courtis retains ownership of 603,342 shares in Alpha Metallurgical Resources, which are currently valued at around $138,002,415.66. This transaction indicates a 1.73% decrease in Courtis's stake in the company. The details of this transaction have been disclosed in a legal filing with the Securities and Exchange Commission.

Performance of Alpha Metallurgical Resources

As of Wednesday, the stock of Alpha Metallurgical Resources opened at $211.41. The company boasts a market capitalization of $2.75 billion, a price-to-earnings (P/E) ratio of 7.76, and a beta of 1.46. The shares have a 50-day simple moving average of $227.78 and a 200-day simple moving average of $250.67. Over the past year, Alpha Metallurgical's stocks have fluctuated between a low of $185.00 and a high of $452.00.

In its latest quarterly earnings report released on November 1st, Alpha Metallurgical Resources reported earnings per share (EPS) of $0.29, failing to meet analyst expectations of $1.60 by a margin of $1.31. The company generated revenues totaling $671.90 million for the quarter, falling short of the forecast of $672.95 million. This represents a year-over-year revenue decline of 9.4%. During the same quarter the previous year, the company had reported an EPS of $6.65. Analysts predict that Alpha Metallurgical Resources will achieve an annual EPS of 16.87 in the current financial year.

Analyst Ratings and Institutional Holdings

Analysts have recently evaluated the stock. B. Riley decreased its price target for Alpha Metallurgical Resources from $374.00 to $336.00 while maintaining a "buy" rating in a report released on September 6th. Meanwhile, Benchmark reiterated a "hold" rating in a report on November 4th.

In terms of institutional investments, several large investors have made moves regarding shares of Alpha Metallurgical Resources. For instance, Federated Hermes Inc. initiated a new position in the company in the second quarter valued at approximately $25,000. In the third quarter, GAMMA Investing LLC increased its stake in Alpha Metallurgical by 124.6%, owning 137 shares valued at around $32,000 after adding 76 shares. Other investors, such as Harbor Capital Advisors Inc. and Sound Income Strategies LLC, also acquired new positions worth $36,000 and $40,000, respectively. Currently, approximately 84.29% of the shares are owned by institutional investors and hedge funds.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc. is a mining company engaged in producing, processing, and selling met and thermal coal primarily in Virginia and West Virginia. The company operates 22 active mines along with 9 coal preparation and loading facilities. Previously known as Contura Energy, Inc., the company rebranded to Alpha Metallurgical Resources, Inc. in February 2021.

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