LPL Financial LLC Acquires New Shares in Alpha Metallurgical Resources, Inc. $AMR

Key Points

• LPL Financial LLC has acquired a new stake in Alpha Metallurgical Resources, purchasing 12,915 shares valued at approximately $1.62 million, symbolizing a 0.10% ownership in the company.
• Following its recent earnings report, Alpha Metallurgical Resources posted an EPS of ($0.38), outperforming expectations by $2.00, despite a 31.6% revenue decline compared to the same quarter last year.
• Insider transactions included COO Jason E. Whitehead selling 12,004 shares, decreasing their ownership by 55.38%, and CFO Joshua Todd Munsey selling 2,135 shares, which reduced their stake by 32.34%.

LPL Financial LLC acquired a new position in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 12,915 shares of the energy company's stock, valued at approximately $1,618,000. LPL Financial LLC owned about 0.10% of Alpha Metallurgical Resources at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of Montreal Can grew its stake in shares of Alpha Metallurgical Resources by 6.0% in the fourth quarter. Bank of Montreal Can now owns 1,318 shares of the energy company's stock worth $264,000 after purchasing an additional 75 shares in the last quarter. AdvisorNet Financial Inc grew its stake in shares of Alpha Metallurgical Resources by 214.3% in the first quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company's stock worth $28,000 after purchasing an additional 150 shares in the last quarter. Signaturefd LLC grew its stake in shares of Alpha Metallurgical Resources by 306.1% in the first quarter. Signaturefd LLC now owns 199 shares of the energy company's stock worth $25,000 after purchasing an additional 150 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Alpha Metallurgical Resources by 3.4% in the fourth quarter. MetLife Investment Management LLC now owns 6,621 shares of the energy company's stock worth $1,325,000 after purchasing an additional 219 shares in the last quarter. Finally, Hi Line Capital Management LLC grew its stake in shares of Alpha Metallurgical Resources by 2.1% in the first quarter. Hi Line Capital Management LLC now owns 11,551 shares of the energy company's stock worth $1,447,000 after purchasing an additional 242 shares in the last quarter. 84.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wall Street Zen raised Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. B. Riley decreased their target price 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. Finally, Jefferies Financial Group raised their target price 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. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $160.50.

Insider Activity at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, CFO Joshua Todd Munsey sold 2,135 shares of the stock in a transaction that occurred 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 in the company, valued at $701,162. This represents a 32.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jason E. Whitehead sold 12,004 shares of Alpha Metallurgical Resources stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $161.84, for a total transaction of $1,942,727.36. Following the sale, the chief operating officer directly owned 9,673 shares of the company's stock, valued at $1,565,478.32. This trade represents a 55.38% decrease in their position. The disclosure for this sale can be found here. 16.00% of the stock is currently owned by corporate insiders.

Alpha Metallurgical Resources Stock Up 0.5%

Shares of Alpha Metallurgical Resources stock traded up $0.79 during midday trading on Wednesday, hitting $145.73. The company's stock had a trading volume of 193,562 shares, compared to its average volume of 449,571. Alpha Metallurgical Resources, Inc. has a 1-year low of $97.41 and a 1-year high of $255.04. The firm has a market capitalization of $1.90 billion, a P/E ratio of -51.13 and a beta of 0.59. The stock has a 50-day simple moving average of $126.56 and a 200-day simple moving average of $127.69.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The energy company reported ($0.38) EPS for the quarter, topping analysts' consensus estimates of ($2.38) by $2.00. The firm had revenue of $550.27 million during the quarter, compared to analyst estimates of $552.15 million. Alpha Metallurgical Resources had a negative return on equity of 2.28% and a negative net margin of 1.57%.The business's quarterly revenue was down 31.6% compared to the same quarter last year. During the same period last year, the company posted $4.49 EPS. As a group, sell-side analysts predict that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Alpha Metallurgical Resources Company Profile

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.