The Manufacturers Life Insurance Company Takes Position in Alpha Metallurgical Resources, Inc. $AMR

Key Points

• The Manufacturers Life Insurance Company acquired 4,885 shares of Alpha Metallurgical Resources worth approximately $806,000, while institutional investors collectively own 84.29% of the company.
• Insiders have been buying shares, including director Kenneth Courtis’s purchase of 15,000 shares for about $2.9 million; insiders now own 18.20% of AMR.
• Analyst sentiment is cautious, with an average “Reduce” rating and a $176 price target. AMR reported a quarterly revenue decline of 10.4% year over year, despite slightly exceeding EPS expectations.

The Manufacturers Life Insurance Company acquired a new stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,885 shares of the energy company's stock, valued at approximately $806,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dalal Street LLC grew its holdings in shares of Alpha Metallurgical Resources by 2.1% during the fourth quarter. Dalal Street LLC now owns 543,000 shares of the energy company's stock valued at $108,535,000 after purchasing an additional 11,000 shares during the last quarter. Kettle Hill Capital Management LLC bought a new stake in shares of Alpha Metallurgical Resources in the 4th quarter worth approximately $4,823,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Alpha Metallurgical Resources during the 2nd quarter valued at approximately $8,983,000. Cibc World Market Inc. bought a new position in Alpha Metallurgical Resources during the 2nd quarter worth $1,741,000. Finally, Old West Investment Management LLC bought a new position in Alpha Metallurgical Resources during the 2nd quarter worth $9,932,000. Institutional investors and hedge funds own 84.29% of the company's stock.

Insider Transactions at Alpha Metallurgical Resources

In other news, Director Kenneth Courtis purchased 15,000 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was purchased at an average cost of $193.50 per share, with a total value of $2,902,500.00. Following the purchase, the director owned 1,015,394 shares in the company, valued at $196,478,739. This trade represents a 1.50% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders acquired 35,000 shares of company stock worth $7,137,400. Company insiders own 18.20% of the company's stock.

Wall Street Analysts Forecast Growth

AMR has been the topic of several analyst reports. UBS Group started coverage on Alpha Metallurgical Resources in a research report on Friday, July 10th. They issued a "neutral" rating and a $165.00 target price on the stock. Wall Street Zen lowered shares of Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $160.00 price objective on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. Weiss Ratings lowered shares of Alpha Metallurgical Resources from a "sell (d)" rating to a "sell (e+)" rating in a research note on Tuesday, August 11th. Finally, Zacks Research lowered shares of Alpha Metallurgical Resources from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 27th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Alpha Metallurgical Resources has an average rating of "Reduce" and an average price target of $176.00.

Alpha Metallurgical Resources Stock Up 3.5%

AMR stock opened at $224.76 on Friday. The firm's 50-day moving average is $168.76 and its two-hundred day moving average is $182.80. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -62.78 and a beta of 0.68. Alpha Metallurgical Resources, Inc. has a 52 week low of $133.64 and a 52 week high of $253.82. The company has a current ratio of 3.41, a quick ratio of 2.37 and a debt-to-equity ratio of 0.01.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $521.61 million. During the same period last year, the firm posted ($0.38) earnings per share. The business's revenue was down 10.4% on a year-over-year basis. On average, analysts forecast that Alpha Metallurgical Resources, Inc. will post -2.4 earnings per share for the current fiscal year.

Alpha Metallurgical Resources Company Profile

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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