Empowered Funds LLC Has $7.67 Million Holdings in Alpha Metallurgical Resources, Inc. $AMR

Empowered Funds LLC increased its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 79.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,347 shares of the energy company’s stock after acquiring an additional 16,525 shares during the period. Empowered Funds LLC owned about 0.29% of Alpha Metallurgical Resources worth $7,666,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State Street Corp raised its position in Alpha Metallurgical Resources by 27.2% in the 2nd quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after purchasing an additional 185,281 shares during the last quarter. Goehring & Rozencwajg Associates LLC increased its stake in shares of Alpha Metallurgical Resources by 206.8% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company’s stock valued at $49,683,000 after buying an additional 163,144 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Alpha Metallurgical Resources by 208.0% in the first quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock valued at $13,290,000 after buying an additional 71,653 shares during the last quarter. Two Sigma Investments LP acquired a new position in Alpha Metallurgical Resources during the 3rd quarter worth about $8,132,000. Finally, Marshall Wace LLP bought a new stake in Alpha Metallurgical Resources during the 2nd quarter worth about $5,284,000. 84.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alpha Metallurgical Resources

In related news, Director Kenneth S. Courtis purchased 10,000 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average cost of $200.73 per share, with a total value of $2,007,300.00. Following the completion of the transaction, the director owned 985,394 shares of the company’s stock, valued at approximately $197,798,137.62. This trade represents a 1.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jason E. Whitehead sold 3,901 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $212.28, for a total value of $828,104.28. Following the transaction, the chief operating officer directly owned 10,450 shares in the company, valued at $2,218,326. This trade represents a 27.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 18.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMR shares. Jefferies Financial Group reiterated a “hold” rating and set a $160.00 target price on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. UBS Group initiated coverage on Alpha Metallurgical Resources in a research report on Friday, July 10th. They set a “neutral” rating and a $165.00 target price for the company. Zacks Research raised Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday. Weiss Ratings reiterated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Wednesday, June 24th. Finally, Atlantic Securities set a $194.00 target price on shares of Alpha Metallurgical Resources in a report on Thursday, April 30th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $177.00.

Alpha Metallurgical Resources Stock Down 4.7%

Shares of Alpha Metallurgical Resources stock opened at $137.01 on Friday. The firm has a market cap of $1.74 billion, a PE ratio of -45.67 and a beta of 0.63. The business’s 50 day simple moving average is $170.94 and its 200 day simple moving average is $188.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.81 and a current ratio of 3.67. Alpha Metallurgical Resources, Inc. has a 52-week low of $113.00 and a 52-week high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings results on Friday, May 8th. The energy company reported ($0.86) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.86). Alpha Metallurgical Resources had a negative return on equity of 2.47% and a negative net margin of 1.83%.The firm had revenue of $447.32 million during the quarter, compared to the consensus estimate of $535.15 million. During the same quarter in the prior year, the firm posted ($2.60) EPS. The business’s revenue was down 1.3% on a year-over-year basis. On average, analysts predict that Alpha Metallurgical Resources, Inc. will post 0.2 earnings per share for the current fiscal year.

Alpha Metallurgical Resources 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.