4,517 Shares in Alpha Metallurgical Resources, Inc. $AMR Bought 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 position in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,517 shares of the energy company's stock, valued at approximately $566,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. AdvisorNet Financial Inc increased its position in 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 increased its position in 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. MetLife Investment Management LLC increased its position in Alpha Metallurgical Resources by 3.4% during the 4th quarter. MetLife Investment Management LLC now owns 6,621 shares of the energy company's stock worth $1,325,000 after purchasing an additional 219 shares in the last quarter. Hi Line Capital Management LLC increased its position in 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. Finally, Envestnet Asset Management Inc. increased its position in Alpha Metallurgical Resources by 21.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,457 shares of the energy company's stock worth $292,000 after purchasing an additional 254 shares in the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Stock Up 0.5%

NYSE AMR traded up $0.70 during trading hours on Thursday, reaching $146.32. 269,964 shares of the company were exchanged, compared to its average volume of 444,117. The stock has a market capitalization of $1.91 billion, a P/E ratio of -51.34 and a beta of 0.59. Alpha Metallurgical Resources, Inc. has a 1 year low of $97.41 and a 1 year high of $255.04. The business's 50 day simple moving average is $127.18 and its 200-day simple moving average is $127.44.

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

Insider Activity at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, CFO Joshua Todd Munsey sold 2,135 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $157.00, for a total transaction of $335,195.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jason E. Whitehead sold 12,004 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $161.84, for a total transaction of $1,942,727.36. Following the transaction, the chief operating officer directly owned 9,673 shares in the company, valued at $1,565,478.32. This trade represents a 55.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 16.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMR. 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. B. Riley cut their target price on shares of 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 increased 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 note on Monday, August 11th. One investment 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.com, the stock currently has an average rating of "Hold" and a consensus price target of $160.50.

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.