Old West Investment Management LLC Purchases Shares of 60,213 Alpha Metallurgical Resources, Inc. $AMR

Old West Investment Management LLC acquired a new stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 60,213 shares of the energy company’s stock, valued at approximately $9,932,000.

Several other large investors have also modified their holdings of AMR. Los Angeles Capital Management LLC acquired a new position in shares of Alpha Metallurgical Resources in the 4th quarter worth $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Alpha Metallurgical Resources by 215.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company’s stock valued at $33,000 after purchasing an additional 112 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of Alpha Metallurgical Resources during the first quarter valued at $37,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Alpha Metallurgical Resources in the 4th quarter valued at $45,000. Finally, Hantz Financial Services Inc. boosted its position in shares of Alpha Metallurgical Resources by 67.9% in the 4th quarter. Hantz Financial Services Inc. now owns 403 shares of the energy company’s stock valued at $81,000 after purchasing an additional 163 shares during the period. 84.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMR. Wall Street Zen cut Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price objective on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 21st. B. Riley Financial decreased their target price on shares of Alpha Metallurgical Resources from $194.00 to $189.00 and set a “neutral” rating for the company in a report on Tuesday, July 28th. UBS Group assumed coverage on shares of Alpha Metallurgical Resources in a research report on Friday, July 10th. They issued a “neutral” rating and a $165.00 target price on the stock. Finally, Atlantic Securities set a $194.00 price target on shares of Alpha Metallurgical Resources in a research report on Thursday, April 30th. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $177.00.

Alpha Metallurgical Resources Stock Performance

Shares of Alpha Metallurgical Resources stock opened at $166.05 on Monday. Alpha Metallurgical Resources, Inc. has a 12 month low of $133.64 and a 12 month high of $253.82. 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 cap of $2.11 billion, a PE ratio of -46.38 and a beta of 0.65. The business has a fifty day simple moving average of $160.38 and a 200-day simple moving average of $181.77.

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, beating the consensus estimate of ($0.97) by $0.01. The firm had revenue of $421.29 million for the quarter, compared to analyst estimates of $521.61 million. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%.Alpha Metallurgical Resources’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.38) earnings per share. On average, sell-side analysts anticipate that Alpha Metallurgical Resources, Inc. will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling at Alpha Metallurgical Resources

In other news, COO Jason E. Whitehead sold 3,901 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $212.28, for a total value of $828,104.28. Following the transaction, the chief operating officer owned 10,450 shares in the company, valued at $2,218,326. This represents a 27.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth S. Courtis purchased 10,000 shares of Alpha Metallurgical Resources stock in a transaction dated Friday, June 12th. The stock was bought at an average cost of $200.73 per share, with a total value of $2,007,300.00. Following the completion of the transaction, the director directly owned 985,394 shares of the company’s stock, valued at $197,798,137.62. This represents a 1.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 18.20% of the company’s stock.

Alpha Metallurgical Resources Company 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.