Strs Ohio Makes New Investment in Alpha Metallurgical Resources, Inc. $AMR

Key Points

• Strs Ohio acquired 4,700 shares of Alpha Metallurgical Resources, Inc. ($AMR) in the first quarter, valued at approximately $589,000, as reported in their recent 13F filing with the SEC.
• Several institutional investors, including American Century Companies Inc. and Millennium Management LLC, have significantly increased their stakes in Alpha Metallurgical Resources, showing robust interest in the company's stock.
• Analysts have mixed reviews, with Jefferies Financial Group raising the price target for AMR shares from $110 to $150 and a consensus average rating of "Hold."

Strs Ohio bought a new position in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,700 shares of the energy company's stock, valued at approximately $589,000.

Several other hedge funds also recently made changes to their positions in AMR. Signaturefd LLC grew its position in shares of Alpha Metallurgical Resources by 306.1% in the 1st quarter. Signaturefd LLC now owns 199 shares of the energy company's stock worth $25,000 after acquiring an additional 150 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Alpha Metallurgical Resources by 214.3% in the 1st quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company's stock worth $28,000 after purchasing an additional 150 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Alpha Metallurgical Resources in the 1st quarter worth approximately $38,000. Public Employees Retirement System of Ohio bought a new stake in shares of Alpha Metallurgical Resources in the 4th quarter worth approximately $60,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Alpha Metallurgical Resources in the 1st quarter worth approximately $64,000. Institutional investors and hedge funds own 84.29% of the company's stock.

Insiders Place Their Bets

In related news, COO Jason E. Whitehead sold 12,004 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was 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 owned 9,673 shares of the company's stock, valued at approximately $1,565,478.32. The trade was a 55.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth S. Courtis acquired 53,000 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were acquired at an average cost of $154.68 per share, with a total value of $8,198,040.00. Following the transaction, the director directly owned 734,537 shares in the company, valued at $113,618,183.16. The trade was a 7.78% increase in their position. The disclosure for this purchase can be found here. Insiders own 16.00% of the company's stock.

Alpha Metallurgical Resources Price Performance

AMR traded down $0.24 during trading on Tuesday, reaching $161.61. 106,617 shares of the stock traded hands, compared to its average volume of 332,695. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -56.71 and a beta of 0.64. Alpha Metallurgical Resources, Inc. has a fifty-two week low of $97.41 and a fifty-two week high of $255.04. The stock's 50-day simple moving average is $140.17 and its two-hundred day simple moving average is $126.36.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last released its quarterly earnings data 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. Alpha Metallurgical Resources had a negative return on equity of 2.28% and a negative net margin of 1.57%.The firm had revenue of $550.27 million during the quarter, compared to analysts' expectations of $552.15 million. During the same quarter last year, the firm earned $4.49 earnings per share. The business's revenue for the quarter was down 31.6% on a year-over-year basis. Research analysts anticipate that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on AMR shares. B. Riley cut their target price 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. Jefferies Financial Group lifted their target price 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, Wall Street Zen raised Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $160.50.

Alpha Metallurgical Resources 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.