Magnetar Financial LLC Buys 2,039 Shares of Alpha Metallurgical Resources, Inc. $AMR

Key Points

• Magnetar Financial LLC increased its stake in Alpha Metallurgical Resources by 130.0%, owning 3,607 shares valued at $452,000 as of the last reporting period.
• Insider trading revealed significant sales, with COO Jason E. Whitehead selling 12,004 shares for approximately $1.94 million, a 55.38% decrease in their ownership.
• Equities research analysts have given a mixed outlook, with a consensus rating of "Hold" and a price target averaging $160.50 for Alpha Metallurgical Resources stock.

Magnetar Financial LLC grew its holdings in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 130.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,607 shares of the energy company's stock after acquiring an additional 2,039 shares during the quarter. Magnetar Financial LLC's holdings in Alpha Metallurgical Resources were worth $452,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Canada Pension Plan Investment Board increased its holdings in shares of Alpha Metallurgical Resources by 197.7% in the first quarter. Canada Pension Plan Investment Board now owns 26,200 shares of the energy company's stock worth $3,282,000 after acquiring an additional 17,400 shares in the last quarter. State of Wyoming increased its holdings in shares of Alpha Metallurgical Resources by 33.1% in the first quarter. State of Wyoming now owns 3,838 shares of the energy company's stock worth $481,000 after acquiring an additional 954 shares in the last quarter. Ieq Capital LLC bought a new stake in shares of Alpha Metallurgical Resources in the first quarter worth about $302,000. Old West Investment Management LLC boosted its position in shares of Alpha Metallurgical Resources by 86.9% during the first quarter. Old West Investment Management LLC now owns 22,848 shares of the energy company's stock worth $2,862,000 after buying an additional 10,621 shares during the period. Finally, Comerica Bank boosted its position in shares of Alpha Metallurgical Resources by 7.5% during the first quarter. Comerica Bank now owns 5,404 shares of the energy company's stock worth $677,000 after buying an additional 378 shares during the period. 84.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, COO Jason E. Whitehead sold 12,004 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $161.84, for a total transaction of $1,942,727.36. Following the transaction, the chief operating officer owned 9,673 shares in the company, valued at approximately $1,565,478.32. This trade represents a 55.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joshua Todd Munsey sold 2,135 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $157.00, for a total value of $335,195.00. Following the transaction, the chief financial officer owned 4,466 shares in the company, valued at approximately $701,162. This trade represents a 32.34% decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.00% of the company's stock.

Alpha Metallurgical Resources Stock Performance

NYSE AMR traded down $1.88 during trading hours on Wednesday, hitting $138.42. 324,687 shares of the company traded hands, compared to its average volume of 422,835. The business's 50-day moving average is $130.40 and its 200-day moving average is $126.47. Alpha Metallurgical Resources, Inc. has a twelve month low of $97.41 and a twelve month high of $255.04. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -48.57 and a beta of 0.64.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. B. Riley reduced their price objective on Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating for the company in a research report on Tuesday, August 5th. Jefferies Financial Group upped their price objective on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. Finally, Wall Street Zen raised Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $160.50.

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.