Legal & General Group Plc Takes Position in Alpha Metallurgical Resources, Inc. $AMR

Legal & General Group Plc acquired a new stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 19,716 shares of the energy company's stock, valued at approximately $3,252,000. Legal & General Group Plc owned about 0.16% of Alpha Metallurgical Resources at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Dalal Street LLC boosted its position in 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 buying an additional 11,000 shares during the period. Kettle Hill Capital Management LLC bought a new stake in shares of Alpha Metallurgical Resources during the fourth quarter valued at approximately $4,823,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alpha Metallurgical Resources during the second quarter valued at approximately $8,983,000. Cibc World Market Inc. purchased a new stake in shares of Alpha Metallurgical Resources in the second quarter valued at approximately $1,741,000. Finally, Old West Investment Management LLC purchased a new stake in shares of Alpha Metallurgical Resources in the second quarter valued at approximately $9,932,000. Hedge funds and other institutional investors own 84.29% of the company's stock.

Alpha Metallurgical Resources Stock Up 3.5%

Alpha Metallurgical Resources stock opened at $224.76 on Friday. The business's 50-day simple moving average is $168.76 and its two-hundred day simple moving average is $182.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 3.41. The company has a market cap of $2.85 billion, a PE ratio of -62.78 and a beta of 0.68. Alpha Metallurgical Resources, Inc. has a fifty-two week low of $133.64 and a fifty-two week high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.01. The firm had revenue of $421.29 million during the quarter, compared to analysts' expectations of $521.61 million. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%.The company's revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the business posted ($0.38) earnings per share. Equities analysts anticipate that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AMR shares. Zacks Research downgraded Alpha Metallurgical Resources from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 27th. Wall Street Zen lowered shares of Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Weiss Ratings lowered shares of Alpha Metallurgical Resources from a "sell (d)" rating to a "sell (e+)" rating in a report on Tuesday, August 11th. UBS Group started coverage on shares of Alpha Metallurgical Resources in a research note on Friday, July 10th. They set a "neutral" rating and a $165.00 price objective on the stock. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $160.00 price objective on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 21st. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $176.00.

Insider Buying and Selling

In related news, Director Kenneth Courtis purchased 5,000 shares of the business's stock in a transaction on Friday, August 28th. The shares were bought at an average cost of $228.99 per share, with a total value of $1,144,950.00. Following the transaction, the director owned 1,025,394 shares of the company's stock, valued at approximately $234,804,972.06. This trade represents a 0.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 35,000 shares of company stock valued at $7,137,400 over the last 90 days. 18.20% of the stock is currently owned by corporate insiders.

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.

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