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

On December 13th, Kenneth S. Courtis, a director at Alpha Metallurgical Resources, Inc. (NYSE:AMR), sold 10,621 shares of the company's stock. The transaction took place at an average price of $228.73 per share, amounting to a total value of $2,429,341.33. Following this sale, Courtis now holds 603,342 shares in the company, which are worth approximately $138,002,415.66. This move represents a 1.73% reduction in his ownership stake.

Alpha Metallurgical Resources Price Performance

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

Alpha Metallurgical Resources released its quarterly earnings results on November 1st. The company reported earnings per share (EPS) of $0.29, falling short of analysts' expectations of $1.60 by $1.31. Revenue for the quarter totaled $671.90 million, slightly below the consensus estimate of $672.95 million. The company experienced a year-over-year revenue decline of 9.4%. Last year during the same quarter, the EPS was $6.65. Analysts predict that Alpha Metallurgical Resources will achieve an EPS of 16.87 for the current year.

Analyst Upgrades and Downgrades

Recent analyst reports have discussed Alpha Metallurgical Resources stock. B. Riley lowered their price target for the shares from $374.00 to $336.00 while maintaining a "buy" rating. Benchmark reiterated a "hold" rating in a separate report.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Institutional trading activity has shown significant interest in Alpha Metallurgical Resources. In the second quarter, Federated Hermes Inc. purchased a new position valued at around $25,000. During the third quarter, GAMMA Investing LLC increased its stake in the company by 124.6%. The firm now owns 137 shares worth around $32,000 after acquiring an additional 76 shares recently. Harbor Capital Advisors Inc. also entered a new position during the third quarter valued at approximately $36,000. Other investors such as Sound Income Strategies LLC and Quest Partners LLC have made significant investments in Alpha Metallurgical as well. Currently, institutional investors and hedge funds own about 84.29% of the stock.

Alpha Metallurgical Resources Company Overview

Alpha Metallurgical Resources, Inc., formerly known as Contura Energy, 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 along with nine coal preparation and load-out facilities.

Courtis, Shares, Sale