Mutual Advisors LLC Raises Stake in Alpha Metallurgical Resources, Inc. $AMR

Key Points

• Mutual Advisors LLC increased its stake in Alpha Metallurgical Resources by 57.7% in Q2, acquiring a total of 7,535 shares valued at approximately $848,000.
• Alpha Metallurgical Resources reported a quarterly loss of ($0.38) EPS, significantly better than the consensus estimate of ($2.38), despite a 31.6% year-over-year drop in revenue.
• Insider Kenneth S. Courtis purchased 53,000 shares recently, increasing his holdings by 7.78%, while COO Jason E. Whitehead sold 12,004 shares, reducing his ownership by 55.38%.

Mutual Advisors LLC raised its position in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 57.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,535 shares of the energy company's stock after acquiring an additional 2,757 shares during the quarter. Mutual Advisors LLC owned approximately 0.06% of Alpha Metallurgical Resources worth $848,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in 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 acquiring an additional 150 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Alpha Metallurgical Resources during the 1st quarter worth approximately $38,000. CWM LLC lifted its position in shares of Alpha Metallurgical Resources by 1,205.1% during the 1st quarter. CWM LLC now owns 509 shares of the energy company's stock worth $64,000 after buying an additional 470 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Alpha Metallurgical Resources during the 1st quarter worth approximately $93,000. Finally, Blue Trust Inc. lifted its position in shares of Alpha Metallurgical Resources by 68.0% during the 2nd quarter. Blue Trust Inc. now owns 914 shares of the energy company's stock worth $103,000 after buying an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 84.29% of the company's stock.

Alpha Metallurgical Resources Price Performance

AMR stock opened at $153.19 on Friday. The company has a fifty day moving average price of $154.49 and a 200 day moving average price of $130.96. Alpha Metallurgical Resources, Inc. has a 12 month low of $97.41 and a 12 month high of $255.04. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -53.75 and a beta of 0.94.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on AMR. Wall Street Zen upgraded shares of Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Weiss Ratings restated a "sell (d)" rating on shares of Alpha Metallurgical Resources in a research report on Wednesday, October 8th. B. Riley reduced their price objective on shares of 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. Finally, Jefferies Financial Group boosted their price objective on shares of Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $160.50.

Insider Activity at Alpha Metallurgical Resources

In other news, Director Kenneth S. Courtis acquired 53,000 shares of the company's stock in a transaction on Monday, September 15th. The shares were bought at an average cost of $154.68 per share, with a total value of $8,198,040.00. Following the purchase, the director owned 734,537 shares of the company's stock, valued at $113,618,183.16. This represents a 7.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jason E. Whitehead sold 12,004 shares of the business's 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 completion of the transaction, the chief operating officer directly owned 9,673 shares in the company, valued at $1,565,478.32. This represents a 55.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.00% of the stock is owned by insiders.

About Alpha Metallurgical Resources

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.

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