Alpha Metallurgical Resources, Inc. $AMR Shares Bought by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its holdings in Alpha Metallurgical Resources by 267.9% in Q1, now owning 42,161 shares valued at approximately $5.28 million.
• Analysts have mixed views on the stock, with one firm upgrading it to a "hold" rating while another reduced the target price from $173.00 to $171.00.
• Alpha Metallurgical Resources reported a loss of ($0.38) EPS in its latest earnings, significantly better than the consensus estimate of ($2.38), despite a 31.6% year-over-year revenue decline.

AQR Capital Management LLC increased its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 267.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,161 shares of the energy company's stock after purchasing an additional 30,700 shares during the quarter. AQR Capital Management LLC owned approximately 0.32% of Alpha Metallurgical Resources worth $5,281,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. purchased a new stake in Alpha Metallurgical Resources in the first quarter valued at approximately $6,262,000. Royal Bank of Canada lifted its stake in Alpha Metallurgical Resources by 55.0% in the first quarter. Royal Bank of Canada now owns 2,029 shares of the energy company's stock valued at $254,000 after buying an additional 720 shares during the last quarter. Nomura Holdings Inc. lifted its stake in Alpha Metallurgical Resources by 92.1% in the first quarter. Nomura Holdings Inc. now owns 58,986 shares of the energy company's stock valued at $7,388,000 after buying an additional 28,284 shares during the last quarter. Magnetar Financial LLC lifted its stake in Alpha Metallurgical Resources by 130.0% in the first quarter. Magnetar Financial LLC now owns 3,607 shares of the energy company's stock valued at $452,000 after buying an additional 2,039 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Alpha Metallurgical Resources by 197.7% in the first quarter. Canada Pension Plan Investment Board now owns 26,200 shares of the energy company's stock valued at $3,282,000 after buying an additional 17,400 shares during the last quarter. Hedge funds and other institutional investors own 84.29% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Jefferies Financial Group boosted their price objective on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a "hold" rating in a research note on Monday, August 11th. Finally, B. Riley cut their price target 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 issued a Hold rating to the company's stock. According to data from MarketBeat, Alpha Metallurgical Resources has an average rating of "Hold" and an average target price of $160.50.

Alpha Metallurgical Resources Trading Up 3.6%

Shares of Alpha Metallurgical Resources stock traded up $5.71 during trading hours on Thursday, hitting $164.73. 386,108 shares of the company were exchanged, compared to its average volume of 272,292. Alpha Metallurgical Resources, Inc. has a 1 year low of $97.41 and a 1 year high of $255.04. The business has a 50-day moving average of $138.42 and a 200-day moving average of $126.03. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -57.80 and a beta of 0.64.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The energy company reported ($0.38) 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 business had revenue of $550.27 million during the quarter, compared to analysts' expectations of $552.15 million. During the same quarter in the prior year, the business earned $4.49 earnings per share. The company's quarterly revenue was down 31.6% compared to the same quarter last year. As a group, research analysts anticipate that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.