Empowered Funds LLC Takes $6.24 Million Position in Alpha Metallurgical Resources, Inc. $AMR

Key Points

• Empowered Funds LLC purchased 37,830 shares of Alpha Metallurgical Resources valued at approximately $6.24 million, giving it a 0.30% stake. Institutional investors collectively own 84.29% of the company.
• Insider activity was mixed: Director Kenneth S. Courtis bought 15,000 shares for about $2.90 million, while COO Jason E. Whitehead sold 3,901 shares for approximately $828,000. Insiders own 18.20% of the stock.
• Analyst sentiment remains cautious, with the stock receiving an average “Reduce” rating and a $176 price target. Alpha reported a quarterly loss of $0.96 per share and revenue of $421.29 million, down 10.4% year over year.

Empowered Funds LLC purchased a new stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 37,830 shares of the energy company's stock, valued at approximately $6,240,000. Empowered Funds LLC owned approximately 0.30% of Alpha Metallurgical Resources as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMR. Los Angeles Capital Management LLC acquired a new stake in Alpha Metallurgical Resources during the 4th quarter valued at $29,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Alpha Metallurgical Resources by 215.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company's stock worth $33,000 after buying an additional 112 shares during the period. Leonteq Securities AG acquired a new stake in shares of Alpha Metallurgical Resources in the first quarter worth $37,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at $45,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Alpha Metallurgical Resources during the second quarter valued at $49,000. Institutional investors and hedge funds own 84.29% of the company's stock.

Insiders Place Their Bets

In other news, Director Kenneth S. Courtis bought 15,000 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average price of $193.50 per share, for a total transaction of $2,902,500.00. Following the acquisition, the director directly owned 1,015,394 shares of the company's stock, valued at $196,478,739. The trade was a 1.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Jason E. Whitehead sold 3,901 shares of the business's stock in a transaction 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 transaction, the chief operating officer directly owned 10,450 shares of the company's stock, valued at approximately $2,218,326. This represents a 27.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased a total of 30,000 shares of company stock worth $5,992,450 over the last quarter. 18.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. B. Riley Financial reduced their price objective on Alpha Metallurgical Resources from $189.00 to $185.00 and set a "neutral" rating for the company in a research note on Thursday, August 20th. Weiss Ratings cut Alpha Metallurgical Resources from a "sell (d)" rating to a "sell (e+)" rating in a research note on Tuesday, August 11th. Jefferies Financial Group reaffirmed a "hold" rating and set a $160.00 target price on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 21st. UBS Group started coverage on Alpha Metallurgical Resources in a report on Friday, July 10th. They issued a "neutral" rating and a $165.00 target price on the stock. Finally, Zacks Research lowered shares of Alpha Metallurgical Resources from a "hold" rating to a "strong sell" rating in a research report on Thursday. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Alpha Metallurgical Resources has an average rating of "Reduce" and an average price target of $176.00.

Alpha Metallurgical Resources Stock Up 0.3%

Shares of Alpha Metallurgical Resources stock opened at $226.84 on Monday. The stock has a market capitalization of $2.88 billion, a P/E ratio of -63.36 and a beta of 0.65. 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 stock has a 50 day moving average price of $162.65 and a two-hundred day moving average price of $181.34. Alpha Metallurgical Resources, Inc. has a 12-month low of $133.64 and a 12-month high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) EPS for the quarter, beating analysts' consensus estimates of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The company had revenue of $421.29 million for the quarter, compared to analyst estimates of $521.61 million. During the same quarter last year, the firm posted ($0.38) earnings per share. The company's quarterly revenue was down 10.4% compared to the same quarter last year. Equities analysts expect that Alpha Metallurgical Resources, Inc. will post -2.4 earnings per share for the current year.

Alpha Metallurgical Resources Profile

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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