Maryland State Retirement & Pension System Acquires New Shares in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Maryland State Retirement & Pension System bought a new stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,297 shares of the energy company’s stock, valued at approximately $1,456,000.

A number of other hedge funds also recently modified their holdings of AMR. Raymond James & Associates lifted its position in Alpha Metallurgical Resources by 203.8% in the 3rd quarter. Raymond James & Associates now owns 9,546 shares of the energy company’s stock valued at $2,479,000 after acquiring an additional 6,404 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Alpha Metallurgical Resources by 20.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,376 shares of the energy company’s stock worth $617,000 after acquiring an additional 396 shares during the last quarter. Meritage Portfolio Management boosted its position in Alpha Metallurgical Resources by 5.6% during the 3rd quarter. Meritage Portfolio Management now owns 1,724 shares of the energy company’s stock worth $448,000 after acquiring an additional 92 shares during the last quarter. M&T Bank Corp bought a new position in shares of Alpha Metallurgical Resources during the 3rd quarter worth approximately $259,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Alpha Metallurgical Resources by 52.5% in the third quarter. Principal Financial Group Inc. now owns 12,182 shares of the energy company’s stock valued at $3,164,000 after purchasing an additional 4,193 shares during the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

Alpha Metallurgical Resources Stock Down 1.3 %

Shares of Alpha Metallurgical Resources stock opened at $300.49 on Thursday. The stock has a market cap of $3.91 billion, a P/E ratio of 6.17 and a beta of 1.38. Alpha Metallurgical Resources, Inc. has a 12-month low of $132.72 and a 12-month high of $452.00. The business’s 50 day moving average is $330.80 and its 200-day moving average is $325.23.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings results on Monday, May 6th. The energy company reported $9.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.61 by ($0.02). Alpha Metallurgical Resources had a return on equity of 46.22% and a net margin of 20.80%. The firm had revenue of $864.07 million for the quarter, compared to the consensus estimate of $845.35 million. During the same period last year, the company posted $17.01 earnings per share. The business’s revenue was down 5.2% compared to the same quarter last year. On average, sell-side analysts expect that Alpha Metallurgical Resources, Inc. will post 29.82 EPS for the current year.

Insider Activity at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, Director David J. Stetson sold 4,502 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $388.26, for a total transaction of $1,747,946.52. Following the transaction, the director now owns 20,104 shares of the company’s stock, valued at $7,805,579.04. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Alpha Metallurgical Resources news, Director David J. Stetson sold 4,502 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $388.26, for a total value of $1,747,946.52. Following the transaction, the director now directly owns 20,104 shares in the company, valued at $7,805,579.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jason E. Whitehead sold 23,187 shares of Alpha Metallurgical Resources stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $366.04, for a total transaction of $8,487,369.48. Following the sale, the chief operating officer now directly owns 25,384 shares of the company’s stock, valued at approximately $9,291,559.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 153,971 shares of company stock worth $55,479,986. Insiders own 16.40% of the company’s stock.

Analysts Set New Price Targets

AMR has been the subject of a number of analyst reports. B. Riley raised their target price on shares of Alpha Metallurgical Resources from $374.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday. Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a report on Tuesday.

About Alpha Metallurgical Resources

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.