First Citizens Bank & Trust Co. Purchases New Holdings in Alpha Metallurgical Resources, Inc. $AMR

First Citizens Bank & Trust Co. purchased a new stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 4,278 shares of the energy company’s stock, valued at approximately $481,000.

Several other institutional investors have also recently added to or reduced their stakes in AMR. Signaturefd LLC increased its position in Alpha Metallurgical Resources by 306.1% in the 1st quarter. Signaturefd LLC now owns 199 shares of the energy company’s stock valued at $25,000 after acquiring an additional 150 shares during the period. Summit Securities Group LLC acquired a new position in Alpha Metallurgical Resources in the 1st quarter valued at about $38,000. CWM LLC increased its position in Alpha Metallurgical Resources by 1,205.1% in the 1st quarter. CWM LLC now owns 509 shares of the energy company’s stock valued at $64,000 after acquiring an additional 470 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Alpha Metallurgical Resources in the 1st quarter valued at about $93,000. Finally, Blue Trust Inc. increased its position in Alpha Metallurgical Resources by 68.0% in the 2nd quarter. Blue Trust Inc. now owns 914 shares of the energy company’s stock valued at $103,000 after acquiring an additional 370 shares during the period. Institutional investors and hedge funds own 84.29% of the company’s stock.

Insider Transactions at Alpha Metallurgical Resources

In other news, COO Jason E. Whitehead sold 12,004 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $161.84, for a total transaction of $1,942,727.36. Following the sale, the chief operating officer owned 9,673 shares of the company’s stock, valued at $1,565,478.32. The trade was a 55.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joshua Todd Munsey sold 2,135 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $157.00, for a total value of $335,195.00. Following the sale, the chief financial officer directly owned 4,466 shares in the company, valued at $701,162. This trade represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 16.00% of the company’s stock.

Alpha Metallurgical Resources Price Performance

Shares of NYSE:AMR opened at $164.83 on Friday. The business’s 50 day simple moving average is $154.48 and its 200-day simple moving average is $132.60. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -57.84 and a beta of 0.94. Alpha Metallurgical Resources, Inc. has a 12 month low of $97.41 and a 12 month high of $255.04.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Friday, August 8th. The energy company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($2.38) by $2.00. The business had revenue of $550.27 million for the quarter, compared to analyst estimates of $552.15 million. Alpha Metallurgical Resources had a negative return on equity of 2.28% and a negative net margin of 1.57%.The company’s quarterly revenue was down 31.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.49 EPS. On average, equities analysts anticipate that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMR has been the topic of several recent research reports. Wall Street Zen upgraded Alpha Metallurgical Resources from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. B. Riley lowered their price objective on Alpha Metallurgical Resources from $173.00 to $171.00 and set a “buy” rating on the stock in a report on Tuesday, August 5th. Jefferies Financial Group lifted their price objective on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a “hold” rating in a report on Monday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $160.50.

Alpha Metallurgical Resources 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.