Blue Trust Inc. Raises Holdings in Alpha Metallurgical Resources, Inc. $AMR

Blue Trust Inc. increased its position in Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 68.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 914 shares of the energy company’s stock after buying an additional 370 shares during the quarter. Blue Trust Inc.’s holdings in Alpha Metallurgical Resources were worth $103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Mainstay Capital Management LLC ADV purchased a new position in shares of Alpha Metallurgical Resources in the 2nd quarter worth $263,000. Mraz Amerine & Associates Inc. raised its position in shares of Alpha Metallurgical Resources by 21.7% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 14,877 shares of the energy company’s stock worth $1,673,000 after buying an additional 2,649 shares during the period. SummerHaven Investment Management LLC raised its position in shares of Alpha Metallurgical Resources by 4.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 2,688 shares of the energy company’s stock worth $302,000 after buying an additional 114 shares during the period. State of Alaska Department of Revenue raised its position in shares of Alpha Metallurgical Resources by 7.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,513 shares of the energy company’s stock worth $731,000 after buying an additional 454 shares during the period. Finally, Wedge Capital Management L L P NC raised its position in shares of Alpha Metallurgical Resources by 28.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 7,944 shares of the energy company’s stock worth $894,000 after buying an additional 1,737 shares during the period. 84.29% of the stock is owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Trading Up 0.9%

Shares of NYSE AMR opened at $154.59 on Friday. Alpha Metallurgical Resources, Inc. has a 12-month low of $97.41 and a 12-month high of $255.04. The company has a market cap of $2.02 billion, a P/E ratio of -54.24 and a beta of 0.94. The stock has a fifty day moving average price of $154.43 and a 200 day moving average price of $130.74.

Alpha Metallurgical Resources (NYSE:AMR) last announced its earnings results on Friday, August 8th. The energy company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($2.38) by $2.00. The company 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 was down 31.6% on a year-over-year basis. During the same period last year, the firm earned $4.49 earnings per share. On average, sell-side analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AMR has been the topic of several research reports. Wall Street Zen raised Alpha Metallurgical Resources from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Wednesday, October 8th. Jefferies Financial Group increased their price target on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a “hold” rating in a report on Monday, August 11th. Finally, B. Riley lowered their price target on Alpha Metallurgical Resources from $173.00 to $171.00 and set a “buy” rating for the company in a report on Tuesday, August 5th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $160.50.

Insider Activity

In other news, COO Jason E. Whitehead sold 12,004 shares of the firm’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 sale, the chief operating officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joshua Todd Munsey sold 2,135 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $157.00, for a total value of $335,195.00. Following the sale, the chief financial officer 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 disclosure for this sale can be found here. Insiders own 16.00% of the company’s stock.

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.