4,885 Shares in Alpha Metallurgical Resources, Inc. $AMR Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new position in Alpha Metallurgical Resources, Inc. (NYSE:AMR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,885 shares of the energy company’s stock, valued at approximately $806,000.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Alpha Metallurgical Resources in the second quarter worth about $299,230,000. State Street Corp raised its holdings in shares of Alpha Metallurgical Resources by 27.2% during the second quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after acquiring an additional 185,281 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Alpha Metallurgical Resources by 5.6% during the first quarter. Dimensional Fund Advisors LP now owns 721,872 shares of the energy company’s stock valued at $148,192,000 after acquiring an additional 38,300 shares during the period. Continental General Insurance Co. lifted its position in shares of Alpha Metallurgical Resources by 6.4% in the 4th quarter. Continental General Insurance Co. now owns 644,025 shares of the energy company’s stock valued at $128,728,000 after acquiring an additional 38,576 shares in the last quarter. Finally, Dalal Street LLC lifted its position in shares of Alpha Metallurgical Resources by 2.1% in the 4th quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock valued at $108,535,000 after acquiring an additional 11,000 shares in the last quarter. Institutional investors own 84.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kenneth Courtis bought 15,000 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were bought at an average cost of $193.50 per share, with a total value of $2,902,500.00. Following the transaction, the director directly owned 1,015,394 shares in the company, valued at approximately $196,478,739. This trade represents a 1.50% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders bought 35,000 shares of company stock valued at $7,137,400. Corporate insiders own 18.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on AMR shares. UBS Group began coverage on shares of Alpha Metallurgical Resources in a research note on Friday, July 10th. They set a “neutral” rating and a $165.00 target price on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Weiss Ratings downgraded Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Wall Street Zen lowered Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Zacks Research downgraded Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 27th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $176.00.

Alpha Metallurgical Resources Trading Up 3.5%

Alpha Metallurgical Resources stock opened at $224.76 on Friday. The company’s fifty day simple moving average is $168.76 and its 200-day simple moving average is $182.80. The company has a quick ratio of 2.37, a current ratio of 3.41 and a debt-to-equity ratio of 0.01. Alpha Metallurgical Resources, Inc. has a 12 month low of $133.64 and a 12 month high of $253.82. The stock has a market cap of $2.85 billion, a P/E ratio of -62.78 and a beta of 0.68.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings results on Friday, August 7th. The energy company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The business 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. Alpha Metallurgical Resources’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current fiscal year.

Alpha Metallurgical Resources Company 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.