Alpha Metallurgical Resources, Inc. $AMR Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs reduced its stake in **Alpha Metallurgical Resources** by 56.7%, selling 67,854 shares, and now holds 51,876 shares valued at approximately **$6.5 million**.
• Other hedge funds have significantly increased their positions in Alpha Metallurgical, with **Signaturefd LLC** boosting its stake by **306.1%** during the same period.
• The company's latest quarterly earnings revealed a **$0.38** loss per share, surpassing expectations of a **$2.38** loss, despite a **31.6%** drop in revenue year-over-year.

Goldman Sachs Group Inc. trimmed its position in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 56.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,876 shares of the energy company's stock after selling 67,854 shares during the period. Goldman Sachs Group Inc. owned 0.40% of Alpha Metallurgical Resources worth $6,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC grew its position in Alpha Metallurgical Resources by 306.1% during the 1st quarter. Signaturefd LLC now owns 199 shares of the energy company's stock worth $25,000 after purchasing an additional 150 shares during the period. AdvisorNet Financial Inc grew its position in Alpha Metallurgical Resources by 214.3% during the 1st quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company's stock worth $28,000 after purchasing an additional 150 shares during the period. Summit Securities Group LLC acquired a new stake in Alpha Metallurgical Resources during the 1st quarter worth about $38,000. Public Employees Retirement System of Ohio acquired a new stake in Alpha Metallurgical Resources during the 4th quarter worth about $60,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Alpha Metallurgical Resources during the 1st quarter worth about $64,000. 84.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AMR shares. B. Riley cut their price target 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. Wall Street Zen raised Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Jefferies Financial Group increased their price target on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $160.50.

Insider Activity at Alpha Metallurgical Resources

In related news, Director Kenneth S. Courtis purchased 55,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were purchased at an average cost of $142.64 per share, with a total value of $7,845,200.00. Following the purchase, the director owned 681,537 shares of the company's stock, valued at $97,214,437.68. This represents a 8.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joshua Todd Munsey sold 2,135 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were 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 directly owned 4,466 shares in the company, valued at $701,162. This represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.00% of the stock is currently owned by corporate insiders.

Alpha Metallurgical Resources Price Performance

Alpha Metallurgical Resources stock traded up $2.48 during midday trading on Friday, reaching $166.87. The company had a trading volume of 125,180 shares, compared to its average volume of 331,593. The company has a market capitalization of $2.18 billion, a P/E ratio of -58.68 and a beta of 0.64. Alpha Metallurgical Resources, Inc. has a 12-month low of $97.41 and a 12-month high of $255.04. The firm's fifty day simple moving average is $138.42 and its 200-day simple moving average is $126.03.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The energy company reported ($0.38) earnings per share for the quarter, beating analysts' consensus estimates of ($2.38) by $2.00. The firm had revenue of $550.27 million for the quarter, compared to analyst estimates of $552.15 million. Alpha Metallurgical Resources had a negative net margin of 1.57% and a negative return on equity of 2.28%. Alpha Metallurgical Resources's quarterly revenue was down 31.6% compared to the same quarter last year. During the same period last year, the company posted $4.49 EPS. On average, analysts expect 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.