Alpha Metallurgical Resources, Inc. $AMR Shares Acquired by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its stake in Alpha Metallurgical Resources by 290.2%, acquiring an additional 7,666 shares during the first quarter, bringing its total to 10,308 shares.
• The company reported a quarterly earnings loss of ($0.38) EPS, significantly beating estimates of ($2.38), despite a 31.6% decline in year-over-year revenue.
• Recent analyst reports have adjusted target prices for Alpha Metallurgical, with a consensus target price of $160.50 and a consensus rating of "Hold".

Bayforest Capital Ltd lifted its stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 290.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,308 shares of the energy company's stock after purchasing an additional 7,666 shares during the period. Alpha Metallurgical Resources accounts for about 0.6% of Bayforest Capital Ltd's portfolio, making the stock its 13th largest holding. Bayforest Capital Ltd owned approximately 0.08% of Alpha Metallurgical Resources worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the stock. American Century Companies Inc. boosted its holdings in shares of Alpha Metallurgical Resources by 6.3% during the 1st quarter. American Century Companies Inc. now owns 381,450 shares of the energy company's stock worth $47,777,000 after purchasing an additional 22,444 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Alpha Metallurgical Resources by 50.9% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 136,217 shares of the energy company's stock worth $17,061,000 after purchasing an additional 45,934 shares during the last quarter. Northern Trust Corp lifted its holdings in Alpha Metallurgical Resources by 6.0% in the fourth quarter. Northern Trust Corp now owns 121,652 shares of the energy company's stock valued at $24,345,000 after acquiring an additional 6,905 shares during the last quarter. Millennium Management LLC lifted its holdings in Alpha Metallurgical Resources by 208.0% in the first quarter. Millennium Management LLC now owns 106,107 shares of the energy company's stock valued at $13,290,000 after acquiring an additional 71,653 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC lifted its holdings in Alpha Metallurgical Resources by 2.6% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 73,689 shares of the energy company's stock valued at $9,212,000 after acquiring an additional 1,889 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Stock Up 0.7%

NYSE:AMR traded up $0.99 during trading hours on Friday, reaching $143.11. 243,469 shares of the stock were exchanged, compared to its average volume of 319,194. The business has a 50-day moving average of $134.72 and a two-hundred day moving average of $125.38. Alpha Metallurgical Resources, Inc. has a twelve month low of $97.41 and a twelve month high of $255.04. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -50.21 and a beta of 0.64.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The energy company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.38) by $2.00. The business had revenue of $550.27 million for the quarter, compared to analysts' expectations of $552.15 million. Alpha Metallurgical Resources had a negative return on equity of 2.28% and a negative net margin of 1.57%.The company's revenue for the quarter was down 31.6% compared to the same quarter last year. During the same period last year, the firm earned $4.49 earnings per share. On average, research analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current fiscal year.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of research analysts recently commented on AMR shares. Wall Street Zen upgraded Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. B. Riley decreased their price objective on Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating on the stock in a report 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 report on Monday, August 11th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average 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.