Malaga Cove Capital LLC Cuts Stock Position in Alpha Metallurgical Resources, Inc. $AMR

Malaga Cove Capital LLC trimmed its position in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 16.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,784 shares of the energy company’s stock after selling 722 shares during the quarter. Malaga Cove Capital LLC’s holdings in Alpha Metallurgical Resources were worth $426,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. 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 worth $25,000 after purchasing an additional 150 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Alpha Metallurgical Resources during the 1st quarter worth approximately $38,000. CWM LLC boosted its position in Alpha Metallurgical Resources by 1,205.1% in the 1st quarter. CWM LLC now owns 509 shares of the energy company’s stock valued at $64,000 after buying an additional 470 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Alpha Metallurgical Resources in the first quarter worth $93,000. Finally, Blue Trust Inc. increased its position in shares of Alpha Metallurgical Resources by 68.0% during the second quarter. Blue Trust Inc. now owns 914 shares of the energy company’s stock worth $103,000 after acquiring an additional 370 shares during the period. 84.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on AMR. Jefferies Financial Group boosted their target price on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, August 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of Alpha Metallurgical Resources in a research report on Thursday, October 30th. B. Riley reduced their target price on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a “buy” rating on the stock in a report on Tuesday, August 5th. Finally, Wall Street Zen upgraded shares of Alpha Metallurgical Resources from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $160.50.

Insider Activity

In related news, Director Kenneth S. Courtis acquired 55,000 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was bought at an average price of $142.64 per share, for a total transaction of $7,845,200.00. Following the completion of the purchase, the director directly owned 681,537 shares of the company’s stock, valued at approximately $97,214,437.68. The trade was a 8.78% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Joshua Todd Munsey sold 2,135 shares of the business’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 completion of the sale, the chief financial officer directly owned 4,466 shares of the company’s stock, valued at $701,162. The trade was a 32.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 16.00% of the company’s stock.

Alpha Metallurgical Resources Stock Performance

AMR opened at $171.13 on Friday. Alpha Metallurgical Resources, Inc. has a one year low of $97.41 and a one year high of $255.04. The company has a market cap of $2.23 billion, a P/E ratio of -60.05 and a beta of 0.89. The business’s 50-day simple moving average is $159.46 and its 200-day simple moving average is $135.82.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Thursday, November 6th. The energy company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.07). The business had revenue of $526.78 million during the quarter, compared to analyst estimates of $543.77 million. Alpha Metallurgical Resources had a negative net margin of 1.57% and a negative return on equity of 2.28%. The business’s revenue for the quarter was down 21.6% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. As a group, analysts predict that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

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.