BlackRock Inc. Takes Position in Alpha Metallurgical Resources, Inc. $AMR

BlackRock Inc. bought a new stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) during the 2nd quarter, HoldingsChannel reports. The firm bought 1,814,175 shares of the energy company’s stock, valued at approximately $299,230,000. BlackRock Inc. owned approximately 0.14% of Alpha Metallurgical Resources as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its position in Alpha Metallurgical Resources by 27.2% in the second quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after acquiring an additional 185,281 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Alpha Metallurgical Resources by 5.6% during the first quarter. Dimensional Fund Advisors LP now owns 721,872 shares of the energy company’s stock worth $148,192,000 after purchasing an additional 38,300 shares in the last quarter. Continental General Insurance Co. boosted its stake in shares of Alpha Metallurgical Resources by 6.4% in the fourth quarter. Continental General Insurance Co. now owns 644,025 shares of the energy company’s stock valued at $128,728,000 after purchasing an additional 38,576 shares during the period. Dalal Street LLC boosted its stake in shares of 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 purchasing an additional 11,000 shares during the period. Finally, Gendell Jeffrey L grew its holdings in Alpha Metallurgical Resources by 4.0% during the 4th quarter. Gendell Jeffrey L now owns 494,072 shares of the energy company’s stock valued at $98,755,000 after purchasing an additional 19,033 shares in the last quarter. 84.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alpha Metallurgical Resources

In other news, Director Kenneth S. Courtis acquired 15,000 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were purchased at an average price of $193.50 per share, for a total transaction of $2,902,500.00. Following the completion of the purchase, the director directly owned 1,015,394 shares of the company’s stock, valued at $196,478,739. This represents a 1.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jason E. Whitehead sold 3,901 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $212.28, for a total value of $828,104.28. Following the transaction, the chief operating officer directly owned 10,450 shares in the company, valued at approximately $2,218,326. This represents a 27.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have purchased 30,000 shares of company stock valued at $5,992,450. Insiders own 18.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings lowered shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. B. Riley Financial lowered their target price on Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, August 20th. Atlantic Securities set a $194.00 target price on Alpha Metallurgical Resources in a research report on Thursday, April 30th. Zacks Research upgraded Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Finally, Wall Street Zen downgraded Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Alpha Metallurgical Resources presently has an average rating of “Reduce” and an average price target of $176.00.

Alpha Metallurgical Resources Trading Up 0.7%

AMR opened at $217.12 on Thursday. Alpha Metallurgical Resources, Inc. has a 12-month low of $133.64 and a 12-month high of $253.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.41 and a quick ratio of 2.37. The stock has a market capitalization of $2.75 billion, a PE ratio of -60.65 and a beta of 0.65. The firm’s fifty day moving average price is $160.99 and its 200 day moving average price is $181.02.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.01. The company had revenue of $421.29 million during the quarter, compared to analyst estimates of $521.61 million. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the business earned ($0.38) EPS. As a group, research analysts expect that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current fiscal year.

About Alpha Metallurgical Resources

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.