Ieq Capital LLC Purchases New Holdings in Alpha Metallurgical Resources, Inc. $AMR

Key Points

• Ieq Capital LLC has acquired 2,412 shares in Alpha Metallurgical Resources, valued at approximately $302,000, indicating growing interest from institutional investors.
• Analysts have mixed ratings on Alpha Metallurgical Resources, with a consensus average rating of "Hold" and a target price set at $160.50.
• The company's stock was recently up 7.4%, with a 52-week low of $97.41 and high of $255.04, reflecting its volatility within the market.

Ieq Capital LLC purchased a new stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,412 shares of the energy company's stock, valued at approximately $302,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Old West Investment Management LLC boosted 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 valued at $2,862,000 after purchasing an additional 10,621 shares during the last quarter. Comerica Bank boosted its position in Alpha Metallurgical Resources by 7.5% during the first 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. AlphaQuest LLC acquired a new stake in Alpha Metallurgical Resources during the first quarter valued at $566,000. EntryPoint Capital LLC boosted its position in Alpha Metallurgical Resources by 57.1% during the first quarter. EntryPoint Capital LLC now owns 3,319 shares of the energy company's stock valued at $416,000 after purchasing an additional 1,206 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in Alpha Metallurgical Resources by 37.4% during the first quarter. Hsbc Holdings PLC now owns 2,363 shares of the energy company's stock valued at $290,000 after purchasing an additional 643 shares during the last quarter. Hedge funds and other institutional investors own 84.29% of the company's stock.

Insider Activity

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, CFO Joshua Todd Munsey sold 2,135 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $157.00, for a total value of $335,195.00. Following the transaction, the chief financial officer directly owned 4,466 shares of the company's stock, valued at $701,162. This represents a 32.34% decrease in their position. The disclosure for this sale can be found here. 16.00% of the stock is currently owned by insiders.

Alpha Metallurgical Resources Price Performance

Shares of NYSE AMR traded up $0.27 during trading hours on Thursday, hitting $142.20. 168,892 shares of the company's stock were exchanged, compared to its average volume of 331,093. Alpha Metallurgical Resources, Inc. has a 1-year low of $97.41 and a 1-year high of $255.04. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -49.89 and a beta of 0.64. The company's 50-day moving average price is $134.17 and its 200-day moving average price is $125.59.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The energy company reported ($0.38) earnings per share for the quarter, topping 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 business 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 EPS. The firm's revenue was down 31.6% compared to the same quarter last year. On average, research analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Analyst Ratings Changes

AMR has been the subject of a number of research reports. Wall Street Zen raised Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. B. Riley reduced their price objective on Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating for the company in a research report on Tuesday, August 5th. Finally, Jefferies Financial Group lifted their price objective on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a "hold" rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Alpha Metallurgical Resources has a consensus rating of "Hold" and a consensus target price 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.