Old West Investment Management LLC Raises Stock 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 position in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 86.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,848 shares of the energy company's stock after purchasing an additional 10,621 shares during the period. Old West Investment Management LLC owned 0.18% of Alpha Metallurgical Resources worth $2,862,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in AMR. Signaturefd LLC lifted its position in shares of Alpha Metallurgical Resources by 306.1% during the first quarter. Signaturefd LLC now owns 199 shares of the energy company's stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. AdvisorNet Financial Inc raised its position in 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 acquiring an additional 150 shares during the period. Summit Securities Group LLC bought a new stake in Alpha Metallurgical Resources in the first quarter worth about $38,000. Public Employees Retirement System of Ohio bought a new stake in Alpha Metallurgical Resources in the fourth quarter worth about $60,000. Finally, Opal Wealth Advisors LLC bought a new stake in Alpha Metallurgical Resources in the first quarter worth about $64,000. 84.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on AMR. Jefferies Financial Group lifted 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. Wall Street Zen raised shares of Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, B. Riley lowered their price objective on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating on the stock in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Alpha Metallurgical Resources has an average rating of "Hold" and a consensus price target of $160.50.

Alpha Metallurgical Resources Price Performance

Shares of AMR traded up $3.80 during trading hours on Friday, hitting $149.68. The company's stock had a trading volume of 231,389 shares, compared to its average volume of 440,401. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -52.52 and a beta of 0.59. The business has a 50 day simple moving average of $128.02 and a two-hundred day simple moving average of $126.82. Alpha Metallurgical Resources, Inc. has a 52-week low of $97.41 and a 52-week high of $255.04.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its earnings results on Friday, August 8th. The energy company reported ($0.38) earnings per share for the quarter, topping the consensus estimate 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 net margin of 1.57% and a negative return on equity of 2.28%. The company's revenue was down 31.6% on a year-over-year basis. During the same quarter last year, the company earned $4.49 earnings per share. Research analysts predict that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Insider Activity

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

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.