Alpha Metallurgical Resources, Inc. $AMR Shares Bought by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management increased its holdings in Alpha Metallurgical Resources by 28.0%, owning 7,944 shares valued at approximately $894,000 as of the most recent filing with the SEC.
• Analysts from Jefferies Financial Group have raised their target price for the stock from $110.00 to $150.00, indicating a consensus rating of "Hold" and an average price target of $160.50.
• Despite a revenue decline of 31.6% year-over-year, Alpha Metallurgical Resources reported earnings per share of ($0.38), surpassing analysts' expectations of ($2.38).

Wedge Capital Management L L P NC raised its position in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 28.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,944 shares of the energy company's stock after buying an additional 1,737 shares during the quarter. Wedge Capital Management L L P NC owned about 0.06% of Alpha Metallurgical Resources worth $894,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. AdvisorNet Financial Inc boosted its position in shares of Alpha Metallurgical Resources by 214.3% during the 1st quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company's stock worth $28,000 after purchasing an additional 150 shares in the last quarter. Signaturefd LLC boosted its position in shares of Alpha Metallurgical Resources by 306.1% during the 1st quarter. Signaturefd LLC now owns 199 shares of the energy company's stock worth $25,000 after purchasing an additional 150 shares in the last quarter. Hi Line Capital Management LLC boosted its position in shares of Alpha Metallurgical Resources by 2.1% during the 1st quarter. Hi Line Capital Management LLC now owns 11,551 shares of the energy company's stock worth $1,447,000 after purchasing an additional 242 shares in the last quarter. Yousif Capital Management LLC boosted its position in shares of Alpha Metallurgical Resources by 6.6% during the 1st quarter. Yousif Capital Management LLC now owns 4,303 shares of the energy company's stock worth $539,000 after purchasing an additional 265 shares in the last quarter. Finally, Voya Investment Management LLC boosted its position in shares of Alpha Metallurgical Resources by 6.9% during the 1st quarter. Voya Investment Management LLC now owns 4,427 shares of the energy company's stock worth $554,000 after purchasing an additional 286 shares in the last quarter. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMR has been the topic of several research analyst reports. Jefferies Financial Group boosted their target price on shares of Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. B. Riley decreased their price objective on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating on the stock in a research report on Tuesday, August 5th. Finally, Wall Street Zen upgraded shares of Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $160.50.

Alpha Metallurgical Resources Price Performance

Shares of AMR stock opened at $161.61 on Tuesday. The firm has a market cap of $2.11 billion, a P/E ratio of -56.71 and a beta of 0.64. Alpha Metallurgical Resources, Inc. has a 1-year low of $97.41 and a 1-year high of $255.04. The firm's 50-day simple moving average is $140.17 and its 200-day simple moving average is $126.36.

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

Insider Transactions at Alpha Metallurgical Resources

In related news, Director Kenneth S. Courtis purchased 53,000 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was acquired at an average price of $154.68 per share, with a total value of $8,198,040.00. Following the completion of the transaction, the director owned 734,537 shares of the company's stock, valued at $113,618,183.16. This represents a 7.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joshua Todd Munsey sold 2,135 shares of Alpha Metallurgical Resources 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 completion of the transaction, the chief financial officer directly owned 4,466 shares of the company's stock, valued at approximately $701,162. This 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.

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.

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