Cibc World Market Inc. Takes $1.74 Million Position in Alpha Metallurgical Resources, Inc. $AMR

Cibc World Market Inc. bought a new position in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) in the 2nd quarter, Holdings Channel reports. The fund bought 10,555 shares of the energy company’s stock, valued at approximately $1,741,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMR. Los Angeles Capital Management LLC acquired a new position in Alpha Metallurgical Resources in the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd raised its stake in Alpha Metallurgical Resources by 215.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company’s stock valued at $33,000 after acquiring an additional 112 shares during the last quarter. Leonteq Securities AG purchased a new stake in Alpha Metallurgical Resources during the 1st quarter valued at approximately $37,000. Aster Capital Management DIFC Ltd acquired a new stake in Alpha Metallurgical Resources during the 4th quarter worth approximately $45,000. Finally, Meeder Asset Management Inc. acquired a new stake in Alpha Metallurgical Resources during the 2nd quarter worth approximately $49,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Insider Transactions at Alpha Metallurgical Resources

In other news, EVP Mark Matthew Manno sold 460 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $214.64, for a total value of $98,734.40. Following the completion of the sale, the executive vice president directly owned 3,966 shares of the company’s stock, valued at $851,262.24. This trade represents a 10.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth S. Courtis purchased 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was acquired 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 owned 1,015,394 shares of the company’s stock, valued at approximately $196,478,739. This represents a 1.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 30,000 shares of company stock valued at $5,992,450. Corporate insiders own 18.20% of the company’s stock.

Alpha Metallurgical Resources Trading Up 4.9%

NYSE AMR opened at $228.60 on Friday. The company has a quick ratio of 2.37, a current ratio of 3.41 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.90 billion, a P/E ratio of -63.85 and a beta of 0.65. Alpha Metallurgical Resources, Inc. has a 52-week low of $133.64 and a 52-week high of $253.82. The firm has a 50-day moving average price of $161.84 and a 200 day moving average price of $181.17.

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, beating analysts’ consensus estimates of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%.The company had revenue of $421.29 million for the quarter, compared to analyst estimates of $521.61 million. During the same quarter in the previous year, the company earned ($0.38) EPS. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities research analysts expect that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. UBS Group initiated coverage on Alpha Metallurgical Resources in a research note on Friday, July 10th. They issued a “neutral” rating and a $165.00 target price on the stock. Weiss Ratings cut Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Jefferies Financial Group reaffirmed a “hold” rating and set 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, Atlantic Securities set a $194.00 price objective on shares of Alpha Metallurgical Resources in a research note on Thursday, April 30th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Alpha Metallurgical Resources currently has a consensus rating of “Reduce” and an average price target of $176.00.

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.