Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 40,201 Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR), purchasing 40,201 shares valued at approximately $5,035,000 in the first quarter.
• Institutional ownership of Alpha Metallurgical Resources is significant, with 84.29% of the stock held by various institutional investors and hedge funds.
• Despite a quarterly revenue decline of 31.6%, Alpha Metallurgical Resources reported an EPS of ($0.38), exceeding analyst estimates by $2.00.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 40,201 shares of the energy company's stock, valued at approximately $5,035,000. Connor Clark & Lunn Investment Management Ltd. owned 0.31% of Alpha Metallurgical Resources at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of AMR. Cynosure Group LLC grew its holdings in shares of Alpha Metallurgical Resources by 74.7% in the first quarter. Cynosure Group LLC now owns 5,155 shares of the energy company's stock worth $646,000 after purchasing an additional 2,204 shares during the last quarter. Hosking Partners LLP raised its holdings in Alpha Metallurgical Resources by 8.7% during the 1st quarter. Hosking Partners LLP now owns 60,014 shares of the energy company's stock valued at $7,517,000 after buying an additional 4,794 shares during the last quarter. New Age Alpha Advisors LLC raised its holdings in Alpha Metallurgical Resources by 12,200.0% during the 1st quarter. New Age Alpha Advisors LLC now owns 24,846 shares of the energy company's stock valued at $3,112,000 after buying an additional 24,644 shares during the last quarter. Malaga Cove Capital LLC raised its holdings in Alpha Metallurgical Resources by 43.9% during the 1st quarter. Malaga Cove Capital LLC now owns 4,506 shares of the energy company's stock valued at $564,000 after buying an additional 1,374 shares during the last quarter. Finally, Vestcor Inc raised its holdings in Alpha Metallurgical Resources by 65.0% during the 1st quarter. Vestcor Inc now owns 3,300 shares of the energy company's stock valued at $413,000 after buying an additional 1,300 shares during the last quarter. 84.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMR has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a "hold" rating in a report on Monday, August 11th. Wall Street Zen upgraded Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, B. Riley cut their price objective on Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating on the stock in a research report on Tuesday, August 5th.

Insider Activity at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, CFO Joshua Todd Munsey sold 2,135 shares of Alpha Metallurgical Resources stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $157.00, for a total transaction of $335,195.00. Following the completion of the transaction, the chief financial officer owned 4,466 shares in the company, valued at approximately $701,162. The trade was a 32.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jason E. Whitehead sold 12,004 shares of Alpha Metallurgical Resources stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $161.84, for a total value of $1,942,727.36. Following the transaction, the chief operating officer owned 9,673 shares of the company's stock, valued at $1,565,478.32. The trade was a 55.38% decrease in their position. The disclosure for this sale can be found here. Insiders own 16.00% of the company's stock.

Alpha Metallurgical Resources Stock Performance

Shares of NYSE AMR traded down $13.36 during mid-day trading on Friday, hitting $146.40. 729,231 shares of the stock traded hands, compared to its average volume of 449,916. Alpha Metallurgical Resources, Inc. has a 52 week low of $97.41 and a 52 week high of $255.04. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -51.37 and a beta of 0.59. The stock has a fifty day moving average price of $121.92 and a 200-day moving average price of $129.59.

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