Meritage Portfolio Management Boosts Stock Holdings in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Meritage Portfolio Management grew its stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,825 shares of the energy company’s stock after acquiring an additional 101 shares during the period. Meritage Portfolio Management’s holdings in Alpha Metallurgical Resources were worth $619,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new stake in shares of Alpha Metallurgical Resources during the fourth quarter worth about $33,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Alpha Metallurgical Resources during the fourth quarter valued at approximately $34,000. Exchange Traded Concepts LLC bought a new stake in Alpha Metallurgical Resources in the 3rd quarter worth approximately $41,000. DekaBank Deutsche Girozentrale bought a new stake in Alpha Metallurgical Resources in the 3rd quarter worth approximately $132,000. Finally, CI Investments Inc. bought a new stake in Alpha Metallurgical Resources in the 3rd quarter worth approximately $188,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, B. Riley dropped their price target on shares of Alpha Metallurgical Resources from $381.00 to $374.00 and set a “buy” rating on the stock in a research note on Monday, April 15th.

Insider Activity at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis sold 22,802 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $302.81, for a total transaction of $6,904,673.62. Following the transaction, the director now owns 638,234 shares in the company, valued at approximately $193,263,637.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis sold 22,802 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $302.81, for a total transaction of $6,904,673.62. Following the transaction, the director now owns 638,234 shares in the company, valued at approximately $193,263,637.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David J. Stetson sold 30,694 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $392.30, for a total transaction of $12,041,256.20. Following the transaction, the director now owns 26,054 shares in the company, valued at approximately $10,220,984.20. The disclosure for this sale can be found here. Insiders sold 153,971 shares of company stock valued at $55,479,986 over the last 90 days. Insiders own 15.00% of the company’s stock.

Alpha Metallurgical Resources Price Performance

Shares of Alpha Metallurgical Resources stock traded up $1.76 during trading hours on Friday, reaching $342.86. The company’s stock had a trading volume of 96,494 shares, compared to its average volume of 241,865. The stock has a market cap of $4.46 billion, a P/E ratio of 7.01 and a beta of 1.35. Alpha Metallurgical Resources, Inc. has a one year low of $132.72 and a one year high of $452.00. The firm has a 50 day moving average price of $343.04 and a 200-day moving average price of $319.13.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings data on Monday, February 26th. The energy company reported $12.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.78 by $4.10. Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. The company had revenue of $959.90 million during the quarter, compared to analysts’ expectations of $796.65 million. During the same period in the previous year, the company earned $13.37 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, sell-side analysts forecast that Alpha Metallurgical Resources, Inc. will post 29.82 EPS for the current fiscal year.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc, a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company offers metallurgical coal products. It operates twenty-two active mines and nine coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc and changed its name to Alpha Metallurgical Resources, Inc in February 2021.