Invesco Ltd. Lowers Stock Holdings in Alpha Metallurgical Resources, Inc. $AMR

Key Points

• Invesco Ltd. reduced its stake in Alpha Metallurgical Resources by 38.4% during the first quarter, leading to ownership of approximately 0.47% of the company valued at about $7.77 million.
• Several institutional investors have increased their positions in Alpha Metallurgical Resources, with GAMMA Investing LLC boosting its investment by an extraordinary 11,100.3% in the first quarter.
• Alpha Metallurgical Resources reported a quarterly earnings per share of ($0.38), beating analyst expectations, but its revenue declined 31.6% year-over-year.

Invesco Ltd. trimmed its position in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 38.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,995 shares of the energy company's stock after selling 38,594 shares during the quarter. Invesco Ltd. owned approximately 0.47% of Alpha Metallurgical Resources worth $7,765,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Alpha Metallurgical Resources in the first quarter worth approximately $5,035,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Alpha Metallurgical Resources in the fourth quarter worth approximately $6,958,000. GAMMA Investing LLC increased its position in shares of Alpha Metallurgical Resources by 11,100.3% in the first quarter. GAMMA Investing LLC now owns 34,945 shares of the energy company's stock worth $4,377,000 after purchasing an additional 34,633 shares during the last quarter. Nomura Holdings Inc. increased its position in shares of Alpha Metallurgical Resources by 1,706.0% in the fourth quarter. Nomura Holdings Inc. now owns 30,702 shares of the energy company's stock worth $6,144,000 after purchasing an additional 29,002 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Alpha Metallurgical Resources by 59,520.9% in the first quarter. Federated Hermes Inc. now owns 25,637 shares of the energy company's stock worth $3,211,000 after purchasing an additional 25,594 shares during the last quarter. 84.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alpha Metallurgical Resources

In related news, COO Jason E. Whitehead sold 12,004 shares of the business's stock in a transaction that occurred on 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 sale, the chief operating officer directly owned 9,673 shares in the company, valued at approximately $1,565,478.32. The trade was a 55.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joshua Todd Munsey sold 2,135 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $157.00, for a total value of $335,195.00. Following the completion of the sale, the chief financial officer owned 4,466 shares of the company's stock, valued at approximately $701,162. The trade was 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 insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMR. Wall Street Zen upgraded shares of Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Jefferies Financial Group increased their price objective 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 dropped their price objective on Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $160.50.

Alpha Metallurgical Resources Stock Up 2.3%

Alpha Metallurgical Resources stock opened at $144.6850 on Tuesday. 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 capitalization of $1.89 billion, a price-to-earnings ratio of -50.77 and a beta of 0.59. The stock has a 50-day moving average price of $125.32 and a 200 day moving average price of $127.44.

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 (EPS) for the quarter, beating 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 the consensus estimate of $552.15 million. During the same period in the previous year, the company posted $4.49 earnings per share. Alpha Metallurgical Resources's revenue for the quarter was down 31.6% on a year-over-year basis. Research analysts anticipate 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.

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