Old West Investment Management LLC Buys Shares of 60,213 Alpha Metallurgical Resources, Inc. $AMR

Key Points

• Old West Investment Management initiated a position of 60,213 Alpha Metallurgical Resources shares worth approximately $9.93 million, representing about 0.47% of the company. Institutional investors collectively own 84.29% of AMR.
• Analyst sentiment remains cautious: six analysts rate the stock “Hold” and one rates it “Sell,” producing a consensus “Reduce” rating and an average price target of $177.
• AMR reported a quarterly loss of $0.96 per share, narrowly beating estimates, but revenue of $421.3 million fell short of forecasts and declined 10.4% year over year. Shares recently opened at $166.05, well below their 52-week high of $253.82.

Old West Investment Management LLC bought a new position in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 60,213 shares of the energy company's stock, valued at approximately $9,932,000. Old West Investment Management LLC owned about 0.47% of Alpha Metallurgical Resources at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AMR. Los Angeles Capital Management LLC acquired a new position in shares of Alpha Metallurgical Resources during the fourth quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd grew its holdings in Alpha Metallurgical Resources by 215.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company's stock worth $33,000 after buying an additional 112 shares in the last quarter. Leonteq Securities AG acquired a new stake in Alpha Metallurgical Resources in the 1st quarter valued at approximately $37,000. Aster Capital Management DIFC Ltd bought a new stake in Alpha Metallurgical Resources during the 4th quarter valued at $45,000. Finally, Hantz Financial Services Inc. raised its stake in Alpha Metallurgical Resources by 67.9% during the 4th quarter. Hantz Financial Services Inc. now owns 403 shares of the energy company's stock valued at $81,000 after acquiring an additional 163 shares in the last quarter. Institutional investors and hedge funds own 84.29% of the company's stock.

Insider Buying and Selling

In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis acquired 10,000 shares of Alpha Metallurgical Resources stock in a transaction dated Friday, June 12th. The stock was bought at an average price of $200.73 per share, for a total transaction of $2,007,300.00. Following the transaction, the director owned 985,394 shares in the company, valued at approximately $197,798,137.62. This trade represents a 1.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Matthew Manno sold 460 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $214.64, for a total transaction of $98,734.40. Following the completion of the transaction, the executive vice president directly owned 3,966 shares in the company, valued at $851,262.24. This represents a 10.39% decrease in their position. The SEC filing for this sale provides additional information. 18.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wall Street Zen cut Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. B. Riley Financial cut their price objective on shares of Alpha Metallurgical Resources from $194.00 to $189.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 28th. UBS Group began coverage on shares of Alpha Metallurgical Resources in a report on Friday, July 10th. They issued a "neutral" rating and a $165.00 price objective for the company. Jefferies Financial Group reiterated a "hold" rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Finally, Weiss Ratings cut shares of Alpha Metallurgical Resources from a "sell (d)" rating to a "sell (e+)" rating in a research note on Tuesday, August 11th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $177.00.

Alpha Metallurgical Resources Stock Performance

Shares of NYSE AMR opened at $166.05 on Monday. Alpha Metallurgical Resources, Inc. has a 1 year low of $133.64 and a 1 year high of $253.82. The firm has a market cap of $2.11 billion, a P/E ratio of -46.38 and a beta of 0.65. The stock has a fifty day moving average price of $160.38 and a two-hundred day moving average price of $181.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 3.41.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) EPS for the quarter, topping analysts' consensus estimates of ($0.97) by $0.01. The company had revenue of $421.29 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.38) EPS. Research analysts forecast that Alpha Metallurgical Resources, Inc. will post 0.2 EPS for the current fiscal year.

About Alpha Metallurgical Resources

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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