Jupiter Topco LLC Invests $903,000 in Alpha Metallurgical Resources, Inc. $AMR

Key Points

• Jupiter Topco LLC purchased 5,465 shares of Alpha Metallurgical Resources in the second quarter, valued at approximately $903,000. Institutional investors collectively own 84.29% of the company.
• Alpha Metallurgical Resources reported a quarterly loss of $0.96 per share, slightly better than estimates, but revenue fell 10.4% year over year to $421.29 million and missed expectations.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating and an average price target of $176, below its reported opening price of $224.76.

Jupiter Topco LLC purchased a new position in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,465 shares of the energy company's stock, valued at approximately $903,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dalal Street LLC raised its position in shares of Alpha Metallurgical Resources by 2.1% in the 4th quarter. Dalal Street LLC now owns 543,000 shares of the energy company's stock valued at $108,535,000 after purchasing an additional 11,000 shares in the last quarter. Kettle Hill Capital Management LLC acquired a new stake in shares of Alpha Metallurgical Resources during the fourth quarter worth approximately $4,823,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alpha Metallurgical Resources in the second quarter worth $8,983,000. Cibc World Market Inc. bought a new stake in shares of Alpha Metallurgical Resources in the second quarter worth $1,741,000. Finally, Old West Investment Management LLC acquired a new stake in Alpha Metallurgical Resources in the second quarter valued at $9,932,000. Hedge funds and other institutional investors own 84.29% of the company's stock.

Alpha Metallurgical Resources Stock Up 3.5%

AMR stock opened at $224.76 on Friday. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of -62.78 and a beta of 0.68. Alpha Metallurgical Resources, Inc. has a 1-year low of $133.64 and a 1-year high of $253.82. The firm has a fifty day moving average price of $168.76 and a two-hundred day moving average price of $182.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.41 and a quick ratio of 2.37.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $521.61 million. During the same period last year, the firm posted ($0.38) EPS. The company's revenue for the quarter was down 10.4% on a year-over-year basis. Research analysts predict that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current year.

Wall Street Analyst Weigh In

AMR has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Jefferies Financial Group restated a "hold" rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 21st. Weiss Ratings downgraded Alpha Metallurgical Resources from a "sell (d)" rating to a "sell (e+)" rating in a research note on Tuesday, August 11th. B. Riley Financial lowered their price objective on Alpha Metallurgical Resources from $189.00 to $185.00 and set a "neutral" rating for the company in a report on Thursday, August 20th. Finally, Zacks Research cut Alpha Metallurgical Resources from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 27th. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $176.00.

Insider Activity at Alpha Metallurgical Resources

In related news, Director Kenneth Courtis purchased 15,000 shares of the company's stock in a transaction dated Thursday, August 20th. The shares were acquired at an average cost of $193.50 per share, for a total transaction of $2,902,500.00. Following the transaction, the director owned 1,015,394 shares of the company's stock, valued at $196,478,739. This trade represents a 1.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders purchased 35,000 shares of company stock worth $7,137,400 over the last three months. 18.20% of the stock is currently owned by corporate insiders.

About Alpha Metallurgical Resources

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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