JPMorgan Chase & Co. Has $15.05 Million Position in Alpha Metallurgical Resources, Inc. $AMR

Key Points

• JPMorgan Chase & Co. boosted its Q3 stake in Alpha Metallurgical Resources by 21.6% to 91,732 shares, a holding valued at about $15.05 million (roughly 0.71% of the company).
• Alpha Metallurgical reported Q results with EPS of ($1.34) in line with estimates but revenue fell 15.7% YoY to $436.33 million and the company shows negative margins; analysts' consensus is a Reduce rating with a $196 price target.

JPMorgan Chase & Co. grew its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 21.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,732 shares of the energy company's stock after buying an additional 16,295 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.71% of Alpha Metallurgical Resources worth $15,052,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Lindenwold Advisors INC acquired a new stake in shares of Alpha Metallurgical Resources in the third quarter valued at about $241,000. CIBC Bancorp USA Inc. acquired a new position in Alpha Metallurgical Resources during the third quarter valued at approximately $205,000. PDT Partners LLC grew its stake in Alpha Metallurgical Resources by 82.0% in the third quarter. PDT Partners LLC now owns 46,964 shares of the energy company's stock valued at $7,706,000 after purchasing an additional 21,159 shares in the last quarter. Dark Forest Capital Management LP bought a new position in Alpha Metallurgical Resources in the third quarter valued at approximately $1,515,000. Finally, Virtus Advisers LLC acquired a new position in shares of Alpha Metallurgical Resources during the 3rd quarter worth approximately $550,000. Institutional investors own 84.29% of the company's stock.

Alpha Metallurgical Resources Stock Performance

AMR opened at $216.40 on Friday. Alpha Metallurgical Resources, Inc. has a 12-month low of $97.41 and a 12-month high of $253.82. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -45.65 and a beta of 0.79. The business has a 50 day moving average of $196.86 and a 200-day moving average of $183.59. The company has a quick ratio of 3.53, a current ratio of 4.47 and a debt-to-equity ratio of 0.01.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its earnings results on Friday, February 27th. The energy company reported ($1.34) earnings per share for the quarter, hitting analysts' consensus estimates of ($1.34). Alpha Metallurgical Resources had a negative return on equity of 3.88% and a negative net margin of 2.90%.The business had revenue of $436.33 million for the quarter, compared to analyst estimates of $538.45 million. During the same period in the previous year, the firm earned ($0.16) EPS. The firm's revenue was down 15.7% compared to the same quarter last year. On average, equities research analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AMR shares. B. Riley Financial upped their price objective on Alpha Metallurgical Resources from $203.00 to $207.00 and gave the stock a "neutral" rating in a research note on Thursday, March 5th. Texas Capital downgraded shares of Alpha Metallurgical Resources from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 29th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Alpha Metallurgical Resources in a research report on Monday, December 29th. Jefferies Financial Group reiterated a "hold" rating and issued a $185.00 price target on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. Finally, Zacks Research downgraded shares of Alpha Metallurgical Resources from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 5th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Alpha Metallurgical Resources presently has a consensus rating of "Reduce" and a consensus price target of $196.00.

Insiders Place Their Bets

In other Alpha Metallurgical Resources news, CFO Joshua Todd Munsey sold 2,523 shares of the company's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $183.24, for a total value of $462,314.52. Following the transaction, the chief financial officer directly owned 4,735 shares in the company, valued at $867,641.40. The trade was a 34.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel E. Horn sold 971 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $170.05, for a total transaction of $165,118.55. Following the completion of the transaction, the insider directly owned 7,320 shares in the company, valued at $1,244,766. The trade was a 11.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders purchased a total of 58,000 shares of company stock valued at $10,530,610 over the last ninety days. 16.00% of the stock is currently owned by company insiders.

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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