Caxton Associates LLP Purchases New Holdings in Alpha Metallurgical Resources, Inc. $AMR

Key Points

• Caxton Associates LLP has made a new investment in Alpha Metallurgical Resources, purchasing 3,593 shares valued at approximately $450,000 in the first quarter.
• Several institutional investors have also increased their stakes in Alpha Metallurgical Resources, with American Century Companies Inc. increasing its holdings by 6.3% and Millennium Management LLC by 208.0% during the same quarter.
• Alpha Metallurgical Resources' stock is currently rated as a "Hold" on average, with a consensus target price of $160.50, according to recent analyst reports.

Caxton Associates LLP purchased a new position in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,593 shares of the energy company's stock, valued at approximately $450,000.

Several other hedge funds have also made changes to their positions in the stock. Financial Strategies Group Inc. lifted its holdings in shares of Alpha Metallurgical Resources by 92.8% in the 1st quarter. Financial Strategies Group Inc. now owns 6,278 shares of the energy company's stock worth $741,000 after purchasing an additional 3,021 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Alpha Metallurgical Resources by 208.0% in the 1st quarter. Millennium Management LLC now owns 106,107 shares of the energy company's stock worth $13,290,000 after purchasing an additional 71,653 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Alpha Metallurgical Resources by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,548 shares of the energy company's stock worth $820,000 after purchasing an additional 295 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Alpha Metallurgical Resources by 267.9% in the 1st quarter. AQR Capital Management LLC now owns 42,161 shares of the energy company's stock worth $5,281,000 after purchasing an additional 30,700 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of Alpha Metallurgical Resources in the 1st quarter worth approximately $6,262,000. Institutional investors own 84.29% of the company's stock.

Insiders Place Their Bets

In related news, COO Jason E. Whitehead sold 12,004 shares of the business's 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 completion of the transaction, the chief operating officer owned 9,673 shares of the company's stock, valued at approximately $1,565,478.32. The trade was a 55.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth S. Courtis acquired 53,000 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were acquired at an average cost of $154.68 per share, with a total value of $8,198,040.00. Following the transaction, the director directly owned 734,537 shares in the company, valued at $113,618,183.16. The trade was a 7.78% increase in their position. The disclosure for this purchase can be found here. Insiders own 16.00% of the company's stock.

Alpha Metallurgical Resources Stock Performance

Shares of AMR stock traded up $5.71 on Thursday, reaching $164.73. 386,108 shares of the company's stock traded hands, compared to its average volume of 272,292. The business's 50 day moving average price is $138.42 and its two-hundred day moving average price is $126.03. Alpha Metallurgical Resources, Inc. has a 12-month low of $97.41 and a 12-month high of $255.04. The company has a market capitalization of $2.15 billion, a P/E ratio of -57.80 and a beta of 0.64.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The energy company reported ($0.38) earnings per share 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 company had revenue of $550.27 million during the quarter, compared to analysts' expectations of $552.15 million. During the same quarter in the previous year, the firm earned $4.49 earnings per share. The business's quarterly revenue was down 31.6% compared to the same quarter last year. Research analysts predict that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wall Street Zen raised Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Jefferies Financial Group lifted their target price on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a "hold" rating in a research note on Monday, August 11th. Finally, B. Riley cut their target price on Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating on the stock in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Alpha Metallurgical Resources presently has an average rating of "Hold" and a consensus price target of $160.50.

Alpha Metallurgical Resources Company Profile

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.