Alpha Metallurgical Resources, Inc. $AMR Shares Sold by Old West Investment Management LLC

Old West Investment Management LLC lowered its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 56.0% during the second quarter, HoldingsChannel.com reports. The firm owned 10,053 shares of the energy company’s stock after selling 12,795 shares during the period. Old West Investment Management LLC’s holdings in Alpha Metallurgical Resources were worth $1,131,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC raised its stake in shares of Alpha Metallurgical Resources by 306.1% during the 1st quarter. Signaturefd LLC now owns 199 shares of the energy company’s stock worth $25,000 after buying an additional 150 shares during the period. Summit Securities Group LLC purchased a new stake in Alpha Metallurgical Resources in the 1st quarter worth $38,000. CWM LLC raised its position in Alpha Metallurgical Resources by 1,205.1% during the first quarter. CWM LLC now owns 509 shares of the energy company’s stock worth $64,000 after acquiring an additional 470 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Alpha Metallurgical Resources during the first quarter valued at $93,000. Finally, Blue Trust Inc. lifted its holdings in Alpha Metallurgical Resources by 68.0% during the second quarter. Blue Trust Inc. now owns 914 shares of the energy company’s stock valued at $103,000 after purchasing an additional 370 shares in the last quarter. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Kenneth S. Courtis bought 55,000 shares of the company’s stock in a transaction on Friday, September 12th. The stock was bought at an average cost of $142.64 per share, for a total transaction of $7,845,200.00. Following the acquisition, the director directly owned 681,537 shares in the company, valued at $97,214,437.68. This represents a 8.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 16.00% of the company’s stock.

Alpha Metallurgical Resources Trading Down 6.3%

Shares of NYSE AMR opened at $159.22 on Friday. The stock has a market cap of $2.05 billion, a PE ratio of -44.72 and a beta of 0.89. Alpha Metallurgical Resources, Inc. has a 12-month low of $97.41 and a 12-month high of $255.04. The company has a 50-day moving average of $161.75 and a 200 day moving average of $137.23.

Alpha Metallurgical Resources (NYSE:AMR) last issued its earnings results on Thursday, November 6th. The energy company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.07). The company had revenue of $526.78 million for the quarter, compared to analyst estimates of $543.77 million. Alpha Metallurgical Resources had a negative return on equity of 2.88% and a negative net margin of 2.09%.The company’s revenue for the quarter was down 21.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 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

A number of analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Alpha Metallurgical Resources in a research note on Thursday, October 30th. Jefferies Financial Group lifted their price objective on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, August 11th. Wall Street Zen raised Alpha Metallurgical Resources from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, B. Riley decreased their target price on Alpha Metallurgical Resources from $173.00 to $171.00 and set a “buy” rating on the stock in a research report on Tuesday, August 5th. One investment 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $160.50.

Alpha Metallurgical Resources Company 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.