Alpha Metallurgical’s Director Offloads $6.9 Million Worth of Company Stock

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Alpha Metallurgical’s Director Offloads .9 Million Worth of Company Stock

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In a recent series of transactions, Kenneth S. Courtis, director of Alpha Metallurgical Resources, Inc. (NYSE: AMR), sold a significant portion of his stake in the company. The sales, which took place on March 14, 2024, had a total value of more than $6.9 million.

The shares were sold at prices ranging from $299.25 to $312.73, reflecting market variability on the trading day. These sales are part of a routine disclosure by company insiders, providing transparency to investors and the market.

The transactions involved a series of sales with varying amounts and prices. For example, a set of 100 shares was sold at the highest price of $312.73 per share, while another set of 493 shares was sold at the lowest price of $299.25 per share. Additional sales occurred within this price range, with the exact number of shares sold at each price available upon request, as noted in the footnotes to the SEC filing.

As a result of these sales, Courtis still owns a significant number of shares of Alpha Metallurgical Resources, demonstrating a continued direct interest in the company’s performance. As a director, his actions are often closely watched by investors seeking information about the company’s internal prospects.

Alpha Metallurgical Resources, formerly known as Contura Energy (NYSE:), Inc., is a leading player in the surface bituminous coal and lignite mining industry, with its shares listed on the New York Stock Exchange.

Detailed information on these transactions is part of the Company’s commitment to complying with regulatory requirements and ensuring that all relevant information is available to shareholders and potential investors.

InvestingPro Insights

As investors digest the news of Kenneth S. Courtis’ stock sale, it’s important to consider Alpha Metallurgical Resources, Inc.’s (AMR) financial health and broader performance metrics. Based on InvestingPro’s real-time data, AMR has a market capitalization of approximately $3.98 billion and a particularly low price-to-earnings (P/E) ratio of 6.08. Taking into account the trailing twelve months as of Q4 2023, the P/E ratio is even more attractive at 5.54, suggesting that the company’s earnings may be undervalued relative to its stock price.

InvestingPro advice highlights several key strengths of AMR. On the one hand, management has actively engaged in share repurchases, which may be a sign of confidence in the company’s future prospects and a potentially positive signal for investors. Additionally, AMR currently holds more cash than debt on its balance sheet, indicating a strong financial position and its ability to withstand market fluctuations.

Despite the recent price volatility, with a total return of -11.25% over the past week, it is worth noting that AMR has seen a strong price rise over the past six months, with a total return of 24.06%. This could indicate the underlying strength of the company’s stock and its attractiveness to investors over a longer period of time. Additionally, the company’s high yield over the past year at 110.99% highlights its strong performance despite short-term market movements.

For those looking for a more in-depth analysis, additional InvestingPro advice is available, offering insights such as the company’s strong free cash flow performance and analysts’ prediction that AMR will be profitable this year. Access this information and much more by visiting https://www.investing.com/pro/AMR, and don’t forget to use the promo code PRONEWS24 to benefit from an additional 10% reduction on an annual or biannual Pro and Pro+ subscription. In total there are 13 additional InvestPro Advice available for AMR, providing comprehensive insights for informed investment decisions.

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