Alpha Metallurgical Resources, Inc.
- Open
- 164.85
- Day high
- 169.27
- Day low
- 161.90
- Prev close
- 164.94
- Volume
- 113K
- Mkt cap
- $2.1B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.4
- P/S
- 1.0
- Yield
- —
- Per share
- —
- ▲Insiders net buying $3.9M over the last 3 months (12 open-market buys, 4 sales)
- 🏛Institutions mixed (13F)
Alpha Metallurgical Resources, Inc. (AMR) is a Energy company listed on NYSE. The stock is up 57% over the past year. Over the trailing 3 months, insiders filed 12 open-market buys and 4 sales (SEC Form 4).
Alpha Metallurgical Resources, Inc. (AMR) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AMR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 8, 2026 | $-0.86 | $-0.86 | +0.0% | $525M | -1.9% |
| Nov 6, 2025 | $-0.35 | $-0.42 | -20.0% | $527M | -2.2% |
| Aug 8, 2025 | $-2.38 | $-0.38 | +84.0% | $550M | -3.8% |
| May 9, 2025 | $-1.53 | $-2.60 | -69.9% | $532M | -14.4% |
| Feb 28, 2025 | $1.12 | $-0.16 | -114.3% | $617M | -6.2% |
| Nov 1, 2024 | $2.78 | $0.29 | -89.6% | $672M | -1.6% |
| Feb 26, 2024 | $9.07 | $13.06 | +44.0% | $960M | +20.5% |
| Nov 2, 2023 | $6.46 | $6.65 | +2.9% | $742M | -0.5% |
| Aug 4, 2023 | $12.69 | $12.16 | -4.2% | $858M | +3.0% |
| Feb 23, 2023 | $15.07 | $13.37 | -11.3% | $823M | -1.1% |
| May 5, 2022 | $19.04 | $20.52 | +7.8% | $1.1B | +13.4% |
| Mar 7, 2022 | $11.44 | $13.45 | +17.6% | $828M | +14.1% |
AMR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 16, 2026 | Courtis Kenneth S.director | Buy | 6,136 | $200.49 |
| Jun 16, 2026 | Courtis Kenneth S.director | Buy | 3,864 | $201.11 |
| Jun 4, 2026 | Whitehead Jason E.officer: President & COO | Sell | 1,694 | $211.56 |
| Jun 4, 2026 | Whitehead Jason E.officer: President & COO | Buy | 99 | $214.94 |
| Jun 4, 2026 | Whitehead Jason E.officer: President & COO | Sell | 1,388 | $212.52 |
| Jun 4, 2026 | Whitehead Jason E.officer: President & COO | Sell | 819 | $213.34 |
| Jun 2, 2026 | Manno Mark Matthewofficer: EVP, GC & Secretary | Sell | 460 | $214.64 |
| May 15, 2026 | Courtis Kenneth S.director | Buy | 596 | $183.05 |
| May 15, 2026 | Courtis Kenneth S.director | Buy | 588 | $184.02 |
| May 15, 2026 | Courtis Kenneth S.director | Buy | 4,369 | $191.05 |
| May 15, 2026 | Courtis Kenneth S.director | Buy | 3,500 | $189.12 |
| May 15, 2026 | Courtis Kenneth S.director | Buy | 3,678 | $190.45 |
| May 15, 2026 | Courtis Kenneth S.director | Buy | 705 | $188.14 |
| May 15, 2026 | Courtis Kenneth S.director | Buy | 90 | $192.14 |
| May 15, 2026 | Courtis Kenneth S.director | Buy | 911 | $185.14 |
Source: AMR SEC Form 4 filings, latest Jun 16, 2026. For informational purposes only — not investment advice.
See the full AMR insider & 13F page →Alpha Metallurgical Resources, Inc. company profile
Overview
Alpha Metallurgical Resources, Inc. (NYSE:AMR) is a coal mining company that emerged from the restructuring of Contura Energy in 2021. The company was incorporated in 2016 and changed its name to Alpha Metallurgical Resources in February 2021, coinciding with its initial public offering. Headquartered in Bristol, Tennessee, AMR operates exclusively in the Central Appalachian region, specifically in Virginia and West Virginia. The company has evolved from a traditional coal producer into a focused metallurgical coal specialist, capitalizing on the essential role of coking coal in steel production while navigating the challenging dynamics of global commodity markets.
Business
Alpha Metallurgical Resources operates in the coal mining industry, specifically focusing on metallurgical coal (also known as coking coal) production. Metallurgical coal is a specialized type of coal that differs fundamentally from thermal coal used for electricity generation. When heated in the absence of air, metallurgical coal transforms into coke, a carbon-rich material essential for steel production in blast furnaces. This coke serves as both a fuel source and a chemical reducing agent that removes oxygen from iron ore, making it indispensable to the steelmaking process. The company operates two primary business segments. The Metallurgical Coal Segment represents approximately 85-90% of total revenues and involves mining, processing, and selling premium low-volatile and mid-volatile metallurgical coal to steel producers globally. AMR ships to 26 countries, with significant export operations alongside domestic sales to U.S. steel mills. The Thermal Coal Segment accounts for roughly 10-15% of revenues and consists of incidental thermal coal production that occurs as a byproduct of metallurgical coal mining operations. As of December 2021, Alpha Metallurgical Resources operated twenty active mines and eight coal preparation and load-out facilities across Virginia and West Virginia. The company's mining operations include both underground and surface mines, with coal preparation plants that wash and process raw coal to meet specific quality requirements demanded by steel producers. The company has been rationalizing its operations in recent years, closing higher-cost mines and focusing on its most efficient assets to maintain competitiveness during challenging market conditions.
Revenue model
Alpha Metallurgical Resources generates revenue primarily through product sales of metallurgical and thermal coal to industrial customers. The company's paying customers include integrated steel producers, independent coke producers, electric utilities, and industrial facilities both domestically and internationally. Revenue is generated when coal is shipped and delivered to customers, with pricing typically based on long-term contracts, spot market sales, or index-linked pricing mechanisms tied to benchmark coal indices such as the Australian premium low-volatile index. The company's business model is inherently cyclical and sensitive to several key factors that significantly impact margins. Steel demand represents the primary driver, as approximately 70% of global steel production relies on metallurgical coal for blast furnace operations. When global steel demand weakens due to economic slowdowns, construction declines, or automotive industry contractions, metallurgical coal prices and margins compress accordingly. Geopolitical factors also play a crucial role, as trade tensions, sanctions, and supply chain disruptions can create both opportunities and challenges for coal exporters. Weather conditions substantially affect both production costs and logistics, as extreme winter weather in Central Appalachia can disrupt mining operations and transportation networks. Input cost inflation for labor, diesel fuel, explosives, and mining equipment directly impacts the company's cost structure. Additionally, competition from other global suppliers, particularly Australian and Canadian metallurgical coal producers, influences pricing power and market share. The company's margins also depend on its ability to optimize the domestic versus export sales mix, as domestic sales typically command premium pricing but have limited volume capacity compared to the larger export market.
Competitive moat
Alpha Metallurgical Resources operates in a commodity business with limited sustainable competitive advantages, though it does possess some defensive characteristics. The company's primary moat stems from its geographic positioning in Central Appalachia, which produces some of the world's highest-quality low-volatile metallurgical coal. This coal type commands premium pricing due to its superior coking properties and lower impurity levels compared to many international alternatives. The company benefits from logistical advantages through its proximity to East Coast ports, providing cost-effective access to global export markets and domestic steel producers. AMR's ownership of coal preparation facilities and its vertical integration through the Maxim division (manufacturing and transportation) provides some operational control and cost management capabilities that smaller competitors may lack. However, the company's moat is relatively weak due to the commodity nature of coal and significant competitive pressures. Global competition from large-scale Australian and Canadian producers, who often have lower production costs and longer mine lives, represents a persistent threat. The secular decline in steel production in developed markets and the gradual shift toward electric arc furnace steelmaking (which uses scrap steel rather than metallurgical coal) poses long-term structural headwinds. Environmental and regulatory pressures continue to intensify, with increasing carbon pricing mechanisms and potential future restrictions on coal usage creating uncertainty. Additionally, the company's relatively high production costs compared to some international competitors limit pricing flexibility during market downturns. The cyclical nature of steel demand means that even well-positioned metallurgical coal producers face significant earnings volatility and margin compression during economic downturns.
Risks & safety
Alpha Metallurgical Resources maintains a strong financial position with substantial margin of safety, though earnings volatility remains a concern. • Liquidity and Solvency: Excellent position with $448 million in cash, $519 million total liquidity, minimal debt (debt-to-equity ratio of 0.003), and strong current ratio of 3.87. No meaningful solvency risk. • Cash Flow: Volatile but generally positive operating cash flows; Q1 2025 showed $22 million from operations but negative $16 million free cash flow due to capital expenditures. • Valuation Metrics: Trading at 1.01x book value and extremely high EV/EBITDA of 461x due to minimal Q1 EBITDA of $0.6 million, indicating current earnings distress. • Cyclical Considerations: Company generated over $1 billion EBITDA in peak years (2022-2023) versus near-breakeven in Q1 2025, demonstrating extreme cyclical sensitivity. Balance sheet strength provides cushion during downturns. • Asset Base: Substantial tangible assets ($2.4 billion total assets) including mining properties, equipment, and coal reserves provide asset-based value support.
Recent development
Over the past few years, Alpha Metallurgical Resources has undergone significant strategic transformation focused on operational rationalization and capital discipline. The company has systematically closed higher-cost operations, including the recent closure of Long Branch Surface Mine and idling of Checkmate Powellton mine, removing approximately 500,000 tons of annual production capacity to improve overall cost structure. A major strategic initiative has been the development of the Kingston Wildcat project, a new slope mine expected to produce approximately 1 million tons annually of premium low-volatile metallurgical coal when fully operational. This project represents the company's focus on developing higher-quality, lower-cost production assets. The company has also invested in vertical integration through its Maxim division, establishing in-house manufacturing and transportation capabilities to reduce dependence on third-party suppliers and improve cost control. Capital allocation strategy has evolved significantly based on market conditions. During peak profitability in 2022-2023, AMR aggressively returned capital to shareholders through over $1.1 billion in share repurchases, reducing outstanding shares by more than 30%. However, the company suspended buybacks in 2024 as market conditions deteriorated, instead focusing on balance sheet preservation and maintaining substantial cash reserves. The company has also pursued operational efficiency improvements, including workforce reductions, wage adjustments, and supply chain optimization. Management has expressed interest in potential merger and acquisition opportunities, particularly for geographically synergistic assets that could provide scale benefits and cost reductions. Recent amendments to the company's asset-based lending facility increased available credit to $225 million, providing additional financial flexibility during the current market downturn.
AMR company profile · for informational purposes only — not investment advice.
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