Canada Pension Plan Investment Board Buys 17,400 Shares of Alpha Metallurgical Resources, Inc. $AMR

Key Points

• The Canada Pension Plan Investment Board increased its stake in Alpha Metallurgical Resources by 197.7% during Q1, acquiring an additional 17,400 shares, bringing its total holdings to 26,200 shares worth approximately $3.28 million.
• Recent analyst reports have resulted in a mix of ratings, with one upgrade to "hold" from Wall Street Zen and price target adjustments by Jefferies Financial Group and B. Riley, highlighting an average price target of $160.50.
• Following insider sales by COO Jason E. Whitehead and CFO Joshua Todd Munsey, the company reports that corporate insiders own 16.00% of the stock, indicating potential shifts in management confidence or strategy.

Canada Pension Plan Investment Board lifted its stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 197.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,200 shares of the energy company's stock after buying an additional 17,400 shares during the period. Canada Pension Plan Investment Board owned about 0.20% of Alpha Metallurgical Resources worth $3,282,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. State of Wyoming raised its position in Alpha Metallurgical Resources by 33.1% during the 1st quarter. State of Wyoming now owns 3,838 shares of the energy company's stock valued at $481,000 after purchasing an additional 954 shares during the last quarter. Ieq Capital LLC purchased a new stake in Alpha Metallurgical Resources in the first quarter valued at $302,000. Old West Investment Management LLC grew its position in Alpha Metallurgical Resources by 86.9% during the first quarter. Old West Investment Management LLC now owns 22,848 shares of the energy company's stock worth $2,862,000 after buying an additional 10,621 shares during the period. Comerica Bank boosted its holdings in shares of Alpha Metallurgical Resources by 7.5% in the 1st quarter. Comerica Bank now owns 5,404 shares of the energy company's stock valued at $677,000 after purchasing an additional 378 shares during the last quarter. Finally, AlphaQuest LLC bought a new stake in shares of Alpha Metallurgical Resources in the 1st quarter worth about $566,000. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Price Performance

Shares of NYSE AMR traded down $4.26 during midday trading on Monday, reaching $142.10. 113,945 shares of the stock traded hands, compared to its average volume of 333,808. The stock has a market capitalization of $1.85 billion, a PE ratio of -49.88 and a beta of 0.64. The company's 50 day moving average is $131.95 and its 200 day moving average is $125.58. Alpha Metallurgical Resources, Inc. has a one year low of $97.41 and a one year high of $255.04.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The energy company reported ($0.38) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $550.27 million for the quarter, compared to analyst estimates of $552.15 million. During the same quarter last year, the firm posted $4.49 earnings per share. The business's revenue for the quarter was down 31.6% on a year-over-year basis. As a group, equities analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Insider Transactions at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, COO Jason E. Whitehead sold 12,004 shares of the 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 completion of the sale, the chief operating officer directly owned 9,673 shares of the company's stock, valued at approximately $1,565,478.32. This trade represents a 55.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joshua Todd Munsey sold 2,135 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $157.00, for a total value of $335,195.00. Following the sale, the chief financial officer directly owned 4,466 shares in the company, valued at approximately $701,162. The trade was 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 firms have recently weighed in on AMR. Jefferies Financial Group upped their price target 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. B. Riley dropped their price objective on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. Finally, Wall Street Zen raised shares of Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Alpha Metallurgical Resources 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.