50,000 Shares in Alpha Metallurgical Resources, Inc. $AMR Acquired by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. acquired a new position in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 50,000 shares of the energy company's stock, valued at approximately $6,262,000. Adage Capital Partners GP L.L.C. owned approximately 0.38% of Alpha Metallurgical Resources as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. increased its position in Alpha Metallurgical Resources by 50.9% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 136,217 shares of the energy company's stock worth $17,061,000 after purchasing an additional 45,934 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Alpha Metallurgical Resources during the 1st quarter worth approximately $5,035,000. Jacobs Levy Equity Management Inc. acquired a new stake in Alpha Metallurgical Resources during the 4th quarter worth approximately $6,958,000. GAMMA Investing LLC increased its position in Alpha Metallurgical Resources by 11,100.3% during the 1st quarter. GAMMA Investing LLC now owns 34,945 shares of the energy company's stock worth $4,377,000 after purchasing an additional 34,633 shares in the last quarter. Finally, Nomura Holdings Inc. grew its position in Alpha Metallurgical Resources by 1,706.0% in the fourth quarter. Nomura Holdings Inc. now owns 30,702 shares of the energy company's stock valued at $6,144,000 after acquiring an additional 29,002 shares in the last quarter. Institutional investors and hedge funds own 84.29% of the company's stock.

Insiders Place Their Bets

In other news, CFO Joshua Todd Munsey sold 2,135 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $157.00, for a total transaction of $335,195.00. Following the transaction, the chief financial officer directly owned 4,466 shares of the company's stock, valued at approximately $701,162. This trade represents a 32.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jason E. Whitehead sold 12,004 shares of Alpha Metallurgical Resources stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $161.84, for a total value of $1,942,727.36. Following the transaction, the chief operating officer directly owned 9,673 shares in the company, valued at approximately $1,565,478.32. The trade was a 55.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Jefferies Financial Group increased their price objective on shares of Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a "hold" rating in a research report on Monday, August 11th. Wall Street Zen raised shares of Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, B. Riley reduced their target price on Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $160.50.

Alpha Metallurgical Resources Price Performance

AMR traded down $0.53 during trading hours on Friday, hitting $141.59. 55,354 shares of the stock were exchanged, compared to its average volume of 331,022. The stock has a 50-day simple moving average of $134.17 and a 200-day simple moving average of $125.59. Alpha Metallurgical Resources, Inc. has a 12 month low of $97.41 and a 12 month high of $255.04. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -49.68 and a beta of 0.64.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The energy company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.38) by $2.00. Alpha Metallurgical Resources had a negative return on equity of 2.28% and a negative net margin of 1.57%.The firm had revenue of $550.27 million for the quarter, compared to analysts' expectations of $552.15 million. During the same period last year, the business posted $4.49 earnings per share. The firm's revenue for the quarter was down 31.6% on a year-over-year basis. Sell-side analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

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.