Quantbot Technologies LP Makes New Investment in Alpha Metallurgical Resources, Inc. $AMR

Quantbot Technologies LP bought a new position in Alpha Metallurgical Resources, Inc. (NYSE:AMR) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 4,703 shares of the energy company’s stock, valued at approximately $776,000.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada increased its stake in Alpha Metallurgical Resources by 55.0% during the first quarter. Royal Bank of Canada now owns 2,029 shares of the energy company’s stock worth $254,000 after acquiring an additional 720 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Alpha Metallurgical Resources by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,548 shares of the energy company’s stock valued at $820,000 after purchasing an additional 295 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Alpha Metallurgical Resources by 208.0% in the 1st quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock valued at $13,290,000 after purchasing an additional 71,653 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Alpha Metallurgical Resources by 48.3% in the 1st quarter. Intech Investment Management LLC now owns 13,149 shares of the energy company’s stock worth $1,647,000 after purchasing an additional 4,281 shares during the period. Finally, Creative Planning boosted its holdings in shares of Alpha Metallurgical Resources by 14.5% in the 2nd quarter. Creative Planning now owns 3,465 shares of the energy company’s stock worth $390,000 after purchasing an additional 438 shares during the period. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Trading Up 0.7%

AMR opened at $217.12 on Thursday. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -60.65 and a beta of 0.65. The stock’s 50 day moving average price is $160.99 and its 200-day moving average price is $181.02. Alpha Metallurgical Resources, Inc. has a one year low of $133.64 and a one year high of $253.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 3.41.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative return on equity of 2.99% and a negative net margin of 2.23%.The firm had revenue of $421.29 million for the quarter, compared to the consensus estimate of $521.61 million. During the same period in the prior year, the business posted ($0.38) earnings per share. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, equities analysts forecast that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group began coverage on Alpha Metallurgical Resources in a report on Friday, July 10th. They set a “neutral” rating and a $165.00 price target on the stock. Wall Street Zen lowered shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Zacks Research upgraded shares of Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Jefferies Financial Group reissued a “hold” rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 21st. Finally, Atlantic Securities set a $194.00 target price on shares of Alpha Metallurgical Resources in a report on Thursday, April 30th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $176.00.

Insiders Place Their Bets

In other news, COO Jason E. Whitehead sold 3,901 shares of Alpha Metallurgical Resources stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $212.28, for a total transaction of $828,104.28. Following the completion of the sale, the chief operating officer directly owned 10,450 shares in the company, valued at approximately $2,218,326. This trade represents a 27.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Matthew Manno sold 460 shares of Alpha Metallurgical Resources stock in a transaction on Monday, June 1st. The stock was sold at an average price of $214.64, for a total value of $98,734.40. Following the sale, the executive vice president owned 3,966 shares of the company’s stock, valued at approximately $851,262.24. This trade represents a 10.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have acquired a total of 30,000 shares of company stock worth $5,992,450 over the last quarter. Company insiders own 18.20% of the company’s stock.

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.