Bayforest Capital Ltd Raises Stock Holdings in Alpha Metallurgical Resources, Inc. $AMR

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 increased its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 290.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,308 shares of the energy company's stock after buying an additional 7,666 shares during the period. Alpha Metallurgical Resources comprises approximately 0.6% of Bayforest Capital Ltd's investment 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 SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMR. Northern Trust Corp lifted its position in shares of Alpha Metallurgical Resources by 6.0% during the 4th quarter. Northern Trust Corp now owns 121,652 shares of the energy company's stock valued at $24,345,000 after buying an additional 6,905 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Alpha Metallurgical Resources during the 4th quarter valued at approximately $1,862,000. Gotham Asset Management LLC lifted its position in shares of Alpha Metallurgical Resources by 854.4% during the 4th quarter. Gotham Asset Management LLC now owns 14,888 shares of the energy company's stock valued at $2,979,000 after buying an additional 13,328 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Alpha Metallurgical Resources by 48.6% during the 4th quarter. Janus Henderson Group PLC now owns 28,806 shares of the energy company's stock valued at $5,767,000 after buying an additional 9,423 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Alpha Metallurgical Resources during the 4th quarter valued at approximately $6,958,000. Hedge funds and other institutional investors own 84.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AMR shares. Wall Street Zen raised Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research note 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 raised 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 research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $160.50.

Insiders Place Their Bets

In other Alpha Metallurgical Resources news, CFO Joshua Todd Munsey sold 2,135 shares of the firm's 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 sale, the chief financial officer directly owned 4,466 shares of the company's stock, valued at $701,162. This trade represents a 32.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jason E. Whitehead sold 12,004 shares of the firm's 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 sale, the chief operating officer directly owned 9,673 shares of the company's stock, 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. 16.00% of the stock is owned by company insiders.

Alpha Metallurgical Resources Stock Up 0.7%

Shares of AMR traded up $0.99 during midday trading on Friday, reaching $143.11. The company had a trading volume of 243,469 shares, compared to its average volume of 332,161. Alpha Metallurgical Resources, Inc. has a 1-year low of $97.41 and a 1-year high of $255.04. The stock has a market cap of $1.87 billion, a PE ratio of -50.21 and a beta of 0.64. The firm has a 50 day simple moving average of $134.72 and a 200-day simple moving average of $125.54.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $552.15 million. During the same period last year, the company earned $4.49 EPS. The company's revenue for the quarter 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 fiscal year.

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.