Renaissance Technologies LLC Sells 19,100 Shares of Alpha Metallurgical Resources, Inc. $AMR

Renaissance Technologies LLC lowered its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 3.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 592,815 shares of the energy company’s stock after selling 19,100 shares during the period. Renaissance Technologies LLC’s holdings in Alpha Metallurgical Resources were worth $121,687,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dalal Street LLC grew its position in Alpha Metallurgical Resources by 2.1% in the fourth quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock valued at $108,535,000 after acquiring an additional 11,000 shares during the last quarter. Kettle Hill Capital Management LLC bought a new position in shares of Alpha Metallurgical Resources in the fourth quarter worth about $4,823,000. Marnell Management LLC bought a new position in shares of Alpha Metallurgical Resources in the fourth quarter worth about $1,116,000. Impala Asset Management LLC acquired a new stake in shares of Alpha Metallurgical Resources in the 4th quarter valued at approximately $4,397,000. Finally, Goehring & Rozencwajg Associates LLC grew its holdings in shares of Alpha Metallurgical Resources by 206.8% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company’s stock valued at $49,683,000 after purchasing an additional 163,144 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors.

Alpha Metallurgical Resources Stock Down 0.2%

Shares of AMR opened at $142.88 on Friday. The stock’s 50-day moving average price is $174.36 and its two-hundred day moving average price is $190.98. Alpha Metallurgical Resources, Inc. has a 12 month low of $113.00 and a 12 month high of $253.82. The company has a market capitalization of $1.82 billion, a PE ratio of -47.62 and a beta of 0.63. The company has a current ratio of 3.67, a quick ratio of 2.81 and a debt-to-equity ratio of 0.01.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Friday, May 8th. The energy company reported ($0.86) earnings per share for the quarter, meeting the consensus estimate of ($0.86). Alpha Metallurgical Resources had a negative return on equity of 2.47% and a negative net margin of 1.83%.The company had revenue of $447.32 million during the quarter, compared to analysts’ expectations of $535.15 million. During the same quarter in the prior year, the firm posted ($2.60) earnings per share. The business’s quarterly revenue was down 1.3% on a year-over-year basis. On average, analysts anticipate that Alpha Metallurgical Resources, Inc. will post 8.21 EPS for the current year.

Insider Activity at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, EVP Mark Matthew Manno sold 460 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $214.64, for a total transaction of $98,734.40. Following the completion of the sale, the executive vice president owned 3,966 shares of the company’s stock, valued at approximately $851,262.24. This represents a 10.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth S. Courtis purchased 10,000 shares of the stock in a transaction on Friday, June 12th. The shares were purchased at an average price of $200.73 per share, with a total value of $2,007,300.00. Following the acquisition, the director owned 985,394 shares in the company, valued at approximately $197,798,137.62. The trade was a 1.03% increase in their position. The SEC filing for this purchase provides additional information. 18.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AMR has been the subject of several research reports. Atlantic Securities set a $194.00 price objective on shares of Alpha Metallurgical Resources in a research note on Thursday, April 30th. Jefferies Financial Group restated a “hold” rating and set a $160.00 price objective on shares of Alpha Metallurgical Resources in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Wednesday, June 24th. Zacks Research lowered Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Finally, UBS Group began coverage on Alpha Metallurgical Resources in a report on Friday, July 10th. They set a “neutral” rating and a $165.00 price target on the stock. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $181.50.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc (NYSE: AMR) is a leading pure-play producer of high-grade metallurgical coal, primarily serving the global steelmaking industry. Headquartered in Bristol, Virginia, the company operates multiple underground and surface mining complexes across the central Appalachian and Illinois basins. Its production portfolio focuses on premium raw and semi-soft coking coal products tailored to meet the specifications of steel producers worldwide.

Formed in July 2021 through the spin-out of Contura Energy’s metallurgical coal business, Alpha Metallurgical Resources has built a reputation for operational excellence and cost-efficient mining.