4,517 Shares in Alpha Metallurgical Resources, Inc. $AMR Acquired by AlphaQuest LLC

Key Points

• AlphaQuest LLC acquired a new stake in Alpha Metallurgical Resources, purchasing 4,517 shares valued at approximately $566,000.
• Wells Fargo & Company significantly increased its stake in Alpha Metallurgical Resources by 35.6%, resulting in ownership of 6,788 shares worth $1,358,000.
• Despite a revenue drop of 31.6% year-over-year, Alpha Metallurgical's stock price opened at $144.69, with analysts maintaining an average "Hold" rating and a price target of $160.50.

AlphaQuest LLC acquired a new stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,517 shares of the energy company's stock, valued at approximately $566,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. AdvisorNet Financial Inc raised its stake in Alpha Metallurgical Resources by 214.3% in the first quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company's stock valued at $28,000 after buying an additional 150 shares during the period. Signaturefd LLC raised its stake in Alpha Metallurgical Resources by 306.1% in the first quarter. Signaturefd LLC now owns 199 shares of the energy company's stock valued at $25,000 after buying an additional 150 shares during the period. MetLife Investment Management LLC raised its stake in Alpha Metallurgical Resources by 3.4% in the fourth quarter. MetLife Investment Management LLC now owns 6,621 shares of the energy company's stock valued at $1,325,000 after buying an additional 219 shares during the period. Hi Line Capital Management LLC raised its stake in Alpha Metallurgical Resources by 2.1% in the first quarter. Hi Line Capital Management LLC now owns 11,551 shares of the energy company's stock valued at $1,447,000 after buying an additional 242 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Alpha Metallurgical Resources by 21.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,457 shares of the energy company's stock valued at $292,000 after buying an additional 254 shares during the period. Institutional investors own 84.29% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on AMR. Wall Street Zen upgraded Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. B. Riley dropped their price objective on Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating on the stock in a research note on Tuesday, August 5th. Finally, Jefferies Financial Group upped 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. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Alpha Metallurgical Resources has a consensus rating of "Hold" and an average price target of $160.50.

Insider Activity at Alpha Metallurgical Resources

In other news, COO Jason E. Whitehead sold 12,004 shares of the company's stock in a transaction that occurred 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 transaction, the chief operating officer owned 9,673 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joshua Todd Munsey sold 2,135 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 directly owned 4,466 shares in the company, 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 corporate insiders.

Alpha Metallurgical Resources Stock Up 2.6%

Shares of Alpha Metallurgical Resources stock traded up $3.80 on Friday, hitting $149.68. The stock had a trading volume of 231,389 shares, compared to its average volume of 435,580. Alpha Metallurgical Resources, Inc. has a twelve month low of $97.41 and a twelve month high of $255.04. The business's 50 day moving average is $128.02 and its two-hundred day moving average is $126.42. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -52.52 and a beta of 0.64.

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

Alpha Metallurgical Resources Profile

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.