X Square Capital LLC Acquires Shares of 5,530 Alpha Metallurgical Resources, Inc. $AMR

X Square Capital LLC acquired a new position in Alpha Metallurgical Resources, Inc. (NYSE:AMR) in the second quarter, HoldingsChannel.com reports. The fund acquired 5,530 shares of the energy company’s stock, valued at approximately $912,000.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Alpha Metallurgical Resources during the 2nd quarter valued at about $299,230,000. State Street Corp raised its holdings in Alpha Metallurgical Resources by 27.2% in the 2nd quarter. State Street Corp now owns 865,934 shares of the energy company’s stock worth $97,400,000 after purchasing an additional 185,281 shares during the period. Dimensional Fund Advisors LP raised its holdings in Alpha Metallurgical Resources by 5.6% in the 1st 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 during the period. Continental General Insurance Co. boosted its position in Alpha Metallurgical Resources by 6.4% during the fourth quarter. Continental General Insurance Co. now owns 644,025 shares of the energy company’s stock worth $128,728,000 after purchasing an additional 38,576 shares in the last quarter. Finally, Dalal Street LLC boosted its position in Alpha Metallurgical Resources by 2.1% during the fourth quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock worth $108,535,000 after purchasing an additional 11,000 shares in the last quarter. 84.29% of the stock is owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Price Performance

Alpha Metallurgical Resources stock opened at $210.91 on Friday. The company has a fifty day simple moving average of $159.56 and a 200-day simple moving average of $181.01. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of -58.91 and a beta of 0.65. The company has a quick ratio of 2.37, a current ratio of 3.41 and a debt-to-equity ratio of 0.01. Alpha Metallurgical Resources, Inc. has a 52-week low of $133.64 and a 52-week high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings results 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 firm had revenue of $421.29 million for the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period last year, the firm posted ($0.38) earnings per share. On average, equities analysts anticipate that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on AMR shares. UBS Group started coverage on Alpha Metallurgical Resources in a research report on Friday, July 10th. They issued a “neutral” rating and a $165.00 price objective for the company. Atlantic Securities set a $194.00 target price on Alpha Metallurgical Resources in a research report on Thursday, April 30th. Jefferies Financial Group reissued a “hold” rating and issued a $160.00 price target on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. Zacks Research upgraded shares of Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings downgraded shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $176.00.

Insider Buying and Selling at Alpha Metallurgical Resources

In related news, Director Kenneth S. Courtis purchased 15,000 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was acquired at an average cost of $193.50 per share, for a total transaction of $2,902,500.00. Following the completion of the transaction, the director directly owned 1,000,394 shares of the company’s stock, valued at approximately $193,576,239. This trade represents a 1.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jason E. Whitehead sold 3,901 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $212.28, for a total value of $828,104.28. Following the completion of the sale, the chief operating officer owned 10,450 shares of the company’s stock, valued at $2,218,326. This trade represents a 27.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 18.20% of the stock is owned by insiders.

Alpha Metallurgical Resources 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.