BlackRock Inc. Invests $299.23 Million in Alpha Metallurgical Resources, Inc. $AMR

Key Points

• BlackRock acquired 1.81 million shares of Alpha Metallurgical Resources worth approximately $299.2 million, giving it a 14.26% stake. Institutional investors collectively own 84.29% of the company.
• Alpha Metallurgical Resources reported a quarterly loss of $0.96 per share, narrowly beating estimates, while revenue of $421.3 million fell short of forecasts and declined 10.4% year over year.
• Analyst sentiment remains cautious: six analysts rate the stock “Hold” and one rates it “Sell,” resulting in a consensus “Reduce” rating and an average price target of $176, below the reported $217.12 share price.

BlackRock Inc. acquired a new stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,814,175 shares of the energy company's stock, valued at approximately $299,230,000. BlackRock Inc. owned about 14.26% of Alpha Metallurgical Resources as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG purchased a new position in Alpha Metallurgical Resources in the 2nd quarter valued at about $2,202,000. Old West Investment Management LLC acquired a new position in shares of Alpha Metallurgical Resources in the second quarter valued at approximately $9,932,000. Bank of New York Mellon Corp acquired a new position in shares of Alpha Metallurgical Resources in the second quarter valued at approximately $10,969,000. GSA Capital Partners LLP purchased a new position in shares of Alpha Metallurgical Resources during the second quarter valued at approximately $592,000. Finally, Crocodile Capital Partners GmbH lifted its stake in shares of Alpha Metallurgical Resources by 0.4% during the second quarter. Crocodile Capital Partners GmbH now owns 245,119 shares of the energy company's stock valued at $40,430,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 84.29% of the company's stock.

Insider Activity

In other news, Director Kenneth S. Courtis bought 15,000 shares of the firm's stock in a transaction dated Thursday, August 20th. The stock was acquired at an average price of $193.50 per share, for a total transaction of $2,902,500.00. Following the acquisition, the director owned 1,015,394 shares of the company's stock, valued at $196,478,739. This trade represents a 1.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Jason E. Whitehead sold 3,901 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $212.28, for a total transaction of $828,104.28. Following the sale, the chief operating officer directly owned 10,450 shares of the company's stock, valued at approximately $2,218,326. This trade represents a 27.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have bought 30,000 shares of company stock valued at $5,992,450 in the last three months. Corporate insiders own 18.20% of the company's stock.

Alpha Metallurgical Resources Trading Up 0.7%

AMR stock opened at $217.12 on Thursday. The company has a quick ratio of 2.37, a current ratio of 3.41 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.75 billion, a price-to-earnings ratio of -60.65 and a beta of 0.65. The business has a fifty day simple moving average of $160.99 and a 200-day simple moving average of $181.02. 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 posted its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.97) by $0.01. The firm 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 firm's quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.38) earnings per share. On average, equities research analysts expect that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Jefferies Financial Group reaffirmed a "hold" rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 21st. UBS Group initiated coverage on Alpha Metallurgical Resources in a report on Friday, July 10th. They set a "neutral" rating and a $165.00 price objective on the stock. B. Riley Financial lowered their price objective on Alpha Metallurgical Resources from $189.00 to $185.00 and set a "neutral" rating for the company in a research report on Thursday, August 20th. Atlantic Securities set a $194.00 target price on Alpha Metallurgical Resources in a research note on Thursday, April 30th. Finally, Weiss Ratings downgraded Alpha Metallurgical Resources from a "sell (d)" rating to a "sell (e+)" rating in a research report on Tuesday, August 11th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Alpha Metallurgical Resources presently has an average rating of "Reduce" and an average target price of $176.00.

About Alpha Metallurgical Resources

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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