Squarepoint Ops LLC Makes New Investment in Alpha Metallurgical Resources, Inc. $AMR

Key Points

• Squarepoint Ops LLC acquired 22,604 shares of Alpha Metallurgical Resources in the second quarter, valued at approximately $3.7 million and representing about 0.18% of the company. Institutional investors collectively own 84.29% of AMR.
• Alpha Metallurgical Resources reported a quarterly loss of $0.96 per share, slightly beating expectations, but revenue fell 10.4% year over year to $421.3 million and missed estimates.
• Analyst sentiment remains negative: multiple firms downgraded the stock, resulting in a consensus “Reduce” rating and an average price target of $176, below the reported trading price of $209.74.

Squarepoint Ops LLC acquired a new stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 22,604 shares of the energy company's stock, valued at approximately $3,728,000. Squarepoint Ops LLC owned about 0.18% of Alpha Metallurgical Resources at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AMR. Nykredit A S purchased a new stake in Alpha Metallurgical Resources in the second quarter worth approximately $25,000. Los Angeles Capital Management LLC bought a new position in Alpha Metallurgical Resources during the fourth quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Alpha Metallurgical Resources by 215.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company's stock worth $33,000 after acquiring an additional 112 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of Alpha Metallurgical Resources during the first quarter worth approximately $37,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Alpha Metallurgical Resources during the fourth quarter worth approximately $45,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Trading Down 3.7%

NYSE:AMR opened at $209.74 on Friday. The firm has a market capitalization of $2.66 billion, a P/E ratio of -58.59 and a beta of 0.68. The company has a quick ratio of 2.37, a current ratio of 3.41 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $174.68 and a 200 day moving average of $184.22. Alpha Metallurgical Resources, Inc. has a 52 week low of $133.64 and a 52 week high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The business had revenue of $421.29 million for the quarter, compared to analyst estimates of $521.61 million. During the same quarter last year, the firm earned ($0.38) EPS. The company's revenue was down 10.4% on a year-over-year basis. On average, research analysts predict that Alpha Metallurgical Resources, Inc. will post -2.4 earnings per share for the current year.

Insider Buying and Selling at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, Director Kenneth Courtis purchased 10,000 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Tuesday, September 8th. The shares were bought at an average price of $225.83 per share, for a total transaction of $2,258,300.00. Following the acquisition, the director directly owned 1,035,394 shares in the company, valued at approximately $233,823,027.02. This trade represents a 0.98% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought 35,000 shares of company stock worth $7,388,400 in the last ninety days. Corporate insiders own 18.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AMR shares. Wall Street Zen lowered shares of Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Zacks Research cut shares of Alpha Metallurgical Resources from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 27th. Weiss Ratings cut shares of Alpha Metallurgical Resources from a "sell (d)" rating to a "sell (e+)" rating in a research report on Tuesday, August 11th. UBS Group started coverage on shares of Alpha Metallurgical Resources in a research note on Friday, July 10th. They issued a "neutral" rating and a $165.00 price target for the company. Finally, B. Riley Financial cut their price target on shares of Alpha Metallurgical Resources from $189.00 to $185.00 and set a "neutral" rating for the company in a research report on Thursday, August 20th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Alpha Metallurgical Resources presently has a consensus rating of "Reduce" and an average price target of $176.00.

Alpha Metallurgical Resources Profile

Alpha Metallurgical Resources, Inc is a mining company that produces and markets metallurgical coal, a key raw material used in steelmaking. Its products include premium and high-volatility metallurgical coal, as well as thermal coal, which is used primarily for electricity generation.

The company operates underground and surface mines and related processing facilities in Central Appalachia, principally in Virginia and West Virginia. Alpha sells its coal to domestic and international steel producers, coke manufacturers, and other industrial customers, serving markets in North America, Asia, Europe, and elsewhere.

Alpha Metallurgical Resources was formed from the restructuring of the former Alpha Natural Resources business and operated as Contura Energy before adopting its current name in 2021.

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