Old West Investment Management LLC Grows Position in Alpha Metallurgical Resources, Inc. $AMR

Key Points

• Old West Investment Management LLC increased its stock holdings in Alpha Metallurgical Resources, Inc. by 86.9% to a total of 22,848 shares valued at approximately $2.86 million.
• Wall Street analysts have varying views on the stock, with Jefferies raising its target price from $110 to $150, while B. Riley lowered theirs from $173 to $171, resulting in a consensus rating of "Hold".
• Following recent earnings, Alpha Metallurgical Resources reported negative earnings per share of ($0.38), which exceeded analyst expectations, but marked a 31.6% decline in year-over-year revenue.

Old West Investment Management LLC lifted its stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 86.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,848 shares of the energy company's stock after buying an additional 10,621 shares during the quarter. Old West Investment Management LLC owned about 0.18% of Alpha Metallurgical Resources worth $2,862,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Alpha Metallurgical Resources by 11,100.3% during the 1st quarter. GAMMA Investing LLC now owns 34,945 shares of the energy company's stock worth $4,377,000 after buying an additional 34,633 shares during the period. Mutual Advisors LLC bought a new position in shares of Alpha Metallurgical Resources in the 1st quarter worth $603,000. SG Americas Securities LLC lifted its holdings in shares of Alpha Metallurgical Resources by 204.5% in the 1st quarter. SG Americas Securities LLC now owns 8,376 shares of the energy company's stock worth $1,049,000 after purchasing an additional 5,625 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Alpha Metallurgical Resources by 40.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,385 shares of the energy company's stock worth $173,000 after purchasing an additional 397 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Alpha Metallurgical Resources by 59,520.9% in the 1st quarter. Federated Hermes Inc. now owns 25,637 shares of the energy company's stock worth $3,211,000 after purchasing an additional 25,594 shares in the last quarter. Institutional investors and hedge funds own 84.29% of the company's stock.

Alpha Metallurgical Resources Stock Up 2.6%

AMR traded up $3.80 during trading hours on Friday, hitting $149.68. The stock had a trading volume of 221,911 shares, compared to its average volume of 335,290. The company's fifty day simple moving average is $127.18 and its 200 day simple moving average is $127.44. Alpha Metallurgical Resources, Inc. has a 1 year low of $97.41 and a 1 year high of $255.04. The stock has a market cap of $1.95 billion, a PE ratio of -52.52 and a beta of 0.59.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $550.27 million during the quarter, compared to the consensus estimate 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 company's revenue for the quarter was down 31.6% on a year-over-year basis. During the same quarter last year, the company posted $4.49 EPS. As a group, equities analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AMR shares. Wall Street Zen upgraded Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Jefferies Financial Group raised their price objective 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. Finally, B. Riley dropped their price objective on Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating on the stock in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $160.50.

Insider Activity at Alpha Metallurgical Resources

In related news, CFO Joshua Todd Munsey sold 2,135 shares of the company'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 sale, the chief financial officer directly owned 4,466 shares of the company's stock, valued at $701,162. This represents a 32.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jason E. Whitehead sold 12,004 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $161.84, for a total value of $1,942,727.36. Following the completion of the sale, the chief operating officer directly owned 9,673 shares in the company, valued at approximately $1,565,478.32. The trade was 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 currently 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.