Kettle Hill Capital Management LLC Purchases New Shares in Alpha Metallurgical Resources, Inc. $AMR

Key Points

• Kettle Hill Capital Management disclosed a new stake in Alpha Metallurgical Resources, buying 24,127 shares valued at about $4.82 million in the fourth quarter. The position represented roughly 0.19% of the company.
• Alpha Metallurgical Resources shares were down 5.1%, with the stock opening at $190.57. The company’s market cap was about $2.42 billion, and it remains well below its 12-month high of $253.82.
• Wall Street sentiment is cautious: analysts currently have a “Reduce” consensus rating on AMR, with an average price target of $195.33. Recent results showed earnings matched expectations, but revenue came in below estimates.

Kettle Hill Capital Management LLC purchased a new stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 24,127 shares of the energy company's stock, valued at approximately $4,823,000. Kettle Hill Capital Management LLC owned approximately 0.19% of Alpha Metallurgical Resources as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AMR. Systrade AG purchased a new stake in Alpha Metallurgical Resources during the fourth quarter valued at $55,966,000. Crocodile Capital Partners GmbH purchased a new stake in Alpha Metallurgical Resources during the fourth quarter valued at $40,999,000. State Street Corp raised its stake in Alpha Metallurgical Resources by 27.2% during the second quarter. State Street Corp now owns 865,934 shares of the energy company's stock valued at $97,400,000 after purchasing an additional 185,281 shares in the last quarter. Contrarius Group Holdings Ltd purchased a new stake in Alpha Metallurgical Resources during the third quarter valued at $12,146,000. Finally, Dalal Street LLC raised its stake in Alpha Metallurgical Resources by 15.6% during the third quarter. Dalal Street LLC now owns 532,000 shares of the energy company's stock valued at $87,296,000 after purchasing an additional 71,673 shares in the last quarter. Hedge funds and other institutional investors own 84.29% of the company's stock.

Alpha Metallurgical Resources Trading Down 5.1%

AMR stock opened at $190.57 on Tuesday. The company has a market capitalization of $2.42 billion, a PE ratio of -63.52 and a beta of 0.62. Alpha Metallurgical Resources, Inc. has a 12 month low of $97.41 and a 12 month high of $253.82. The firm's 50-day moving average is $193.99 and its 200 day moving average is $197.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.67 and a quick ratio of 2.81.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The energy company reported ($0.86) EPS for the quarter, hitting the consensus estimate of ($0.86). The company had revenue of $447.32 million for the quarter, compared to the consensus estimate of $535.15 million. Alpha Metallurgical Resources had a negative net margin of 1.83% and a negative return on equity of 2.47%. The firm's revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.60) EPS. On average, research analysts anticipate that Alpha Metallurgical Resources, Inc. will post 11.98 EPS for the current year.

Insider Buying and Selling

In related news, EVP Mark Matthew Manno sold 460 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $214.64, for a total value of $98,734.40. Following the transaction, the executive vice president owned 3,966 shares of the company's stock, valued at $851,262.24. This trade represents a 10.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth S. Courtis bought 15,000 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were acquired at an average price of $189.22 per share, for a total transaction of $2,838,300.00. Following the completion of the acquisition, the director owned 975,394 shares in the company, valued at $184,564,052.68. This represents a 1.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 18.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMR. Zacks Research downgraded shares of Alpha Metallurgical Resources from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 5th. Weiss Ratings reissued a "sell (d)" rating on shares of Alpha Metallurgical Resources in a research note on Friday, March 27th. B. Riley Financial increased their target price on shares of Alpha Metallurgical Resources from $203.00 to $207.00 and gave the company a "neutral" rating in a research note on Thursday, March 5th. Benchmark reissued a "hold" rating on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $185.00 target price on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alpha Metallurgical Resources presently has a consensus rating of "Reduce" and an average price target of $195.33.

Alpha Metallurgical Resources Company 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.

Want to see what other hedge funds are holding AMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.