Bank of New York Mellon Corp Acquires Shares of 66,504 Alpha Metallurgical Resources, Inc. $AMR

Bank of New York Mellon Corp acquired a new position in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 66,504 shares of the energy company's stock, valued at approximately $10,969,000. Bank of New York Mellon Corp owned 0.52% of Alpha Metallurgical Resources as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new position in Alpha Metallurgical Resources during the fourth quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd lifted its position in Alpha Metallurgical Resources by 215.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company's stock worth $33,000 after buying an additional 112 shares in the last quarter. Leonteq Securities AG purchased a new stake in Alpha Metallurgical Resources in the 1st quarter worth approximately $37,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Alpha Metallurgical Resources during the 4th quarter valued at $45,000. Finally, Hantz Financial Services Inc. boosted its stake in shares of Alpha Metallurgical Resources by 67.9% during the 4th quarter. Hantz Financial Services Inc. now owns 403 shares of the energy company's stock valued at $81,000 after buying an additional 163 shares during the period. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Stock Performance

NYSE:AMR opened at $233.41 on Thursday. The firm's 50-day moving average is $166.60 and its 200-day moving average is $182.28. The company has a market cap of $2.96 billion, a price-to-earnings ratio of -65.20 and a beta of 0.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 3.41. Alpha Metallurgical Resources, Inc. has a 52-week low of $133.64 and a 52-week high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) EPS for the quarter, topping analysts' consensus estimates of ($0.97) by $0.01. The company had revenue of $421.29 million during the quarter, compared to the consensus estimate of $521.61 million. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%.The company's quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.38) EPS. Equities research analysts anticipate that Alpha Metallurgical Resources, Inc. will post -2.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMR has been the topic of several research reports. Jefferies Financial Group reaffirmed a "hold" rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Wall Street Zen lowered Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. UBS Group started coverage on Alpha Metallurgical Resources in a research note on Friday, July 10th. They issued a "neutral" rating and a $165.00 price target for the company. Weiss Ratings downgraded Alpha Metallurgical Resources from a "sell (d)" rating to a "sell (e+)" rating in a report on Tuesday, August 11th. Finally, Zacks Research lowered shares of Alpha Metallurgical Resources from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 27th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Alpha Metallurgical Resources has a consensus rating of "Reduce" and an average target price of $176.00.

Insider Buying and Selling

In related news, Director Kenneth S. Courtis acquired 5,000 shares of the firm's stock in a transaction on Friday, August 28th. The shares were purchased at an average price of $228.99 per share, with a total value of $1,144,950.00. Following the acquisition, the director directly owned 1,025,394 shares in the company, valued at $234,804,972.06. The trade was a 0.49% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders purchased 35,000 shares of company stock worth $7,137,400. 18.20% of the stock is owned by corporate insiders.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc NYSE: AMR is a leading pure-play producer of high-grade metallurgical coal, primarily serving the global steelmaking industry. Headquartered in Bristol, Virginia, the company operates multiple underground and surface mining complexes across the central Appalachian and Illinois basins. Its production portfolio focuses on premium raw and semi-soft coking coal products tailored to meet the specifications of steel producers worldwide.

Formed in July 2021 through the spin-out of Contura Energy's metallurgical coal business, Alpha Metallurgical Resources has built a reputation for operational excellence and cost-efficient mining.

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