Alpha Metallurgical $AMR Gets Analysts Outperform and Price Target Hikes

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For the week ending July 16, 2022, $AMR stock continues to uptrend on bullish analysts’ activity.

Cowen Gives Alpha Metallurgical an Outperform Rating

On July 12, 2022, Cowen analyst Lance Vitanza initiated coverage of Alpha Metallurgical with an Outperform rating and a $215 price target. Alpha is the leading domestic producer and exporter of met coal and is positioned to keep benefiting from the significant tailwinds that have pushed the global met coal industry into high gear, Vitanza tells investors in a research note. The analyst says the recent surge in met coal prices will support an adjusted EBITDA margin above 50% and a high free cash flow conversion rate for the company.

B. Riley Ups Alpha Metallurgical Price Target to $182

On July 7, 2022, B. Riley analyst Lucas Pipes raised the firm’s price target on Alpha Metallurgical to $182 from $181 and kept a Buy rating on the shares. Pipes tells investors in a research note that coal prices remain well above historical levels, despite the recent drop in Australian premium low-vol coking with softening steel demand. In the medium term, higher thermal prices, driven up by the war in Europe, will act as a backstop for met coal prices as producers, traders, and consumers arbitrage the price differential, says the analyst. He believes the steel group is undervalued following the correction in recent weeks.

AM Resources Provides Update to Management Cease Trade Order

On July 13, 2022, AM Resources Corporation (TSXV: AMR) (Frankfurt: 76A) is providing an update to its previously disclosed management cease trade order (“MCTO”), initially announced on April 29, 2022, in respect of the audited annual financial statements and corresponding management’s discussion and analysis for the year ended December 31, 2021, including the CEO and CFO certifications, as well as the interim financial statements and corresponding management’s discussion and analysis for the period ended March 31, 2022, including the CEO and CFO certifications (collectively, the “Financial Documents”) that were not filed by their respective filing deadlines of April 30, 2022, and May 30, 2022 (the “Filing Deadlines”).

As previously disclosed, the Financial Documents were not filed on or before the Filing Deadlines due to the delay in completing the audit of the Corporation’s financial statements before the Filing Deadlines. The Corporation is working closely with the auditor to finalize the audit and provides an update that the expected filing date of the Financial Documents is now no later than July 29, 2022. The Corporation will provide updates as further information on the Financial Documents becomes available.

The MCTO will be in effect until the Financial Documents are filed.

Until the Financial Documents are filed, the Corporation intends to issue bi-weekly default status reports per National Policy 12-203 – Management Cease Trade Orders. The Corporation plans to satisfy the provisions of the Alternative Information Guidelines during the period it remains in default of the filing requirements. The Corporation confirms that there is no other material information relating to its affairs that has not been generally disclosed.

Alpha Metallurgical $AMR Chart

Buying is coming into the stock, causing a short-term uptrend. The TTM Squeeze band indicator is also rising as critical moving average resistance bands are broken.

Amr Barchart Interactive Chart
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