Mainstay Capital Management LLC ADV Invests $263,000 in Alpha Metallurgical Resources, Inc. $AMR

Mainstay Capital Management LLC ADV bought a new position in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 2,338 shares of the energy company’s stock, valued at approximately $263,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mraz Amerine & Associates Inc. raised its position in shares of Alpha Metallurgical Resources by 21.7% during the 2nd quarter. Mraz Amerine & Associates Inc. now owns 14,877 shares of the energy company’s stock worth $1,673,000 after acquiring an additional 2,649 shares in the last quarter. SummerHaven Investment Management LLC raised its position in shares of Alpha Metallurgical Resources by 4.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 2,688 shares of the energy company’s stock worth $302,000 after acquiring an additional 114 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Alpha Metallurgical Resources by 7.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,513 shares of the energy company’s stock worth $731,000 after acquiring an additional 454 shares in the last quarter. Wedge Capital Management L L P NC raised its position in shares of Alpha Metallurgical Resources by 28.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 7,944 shares of the energy company’s stock worth $894,000 after acquiring an additional 1,737 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of Alpha Metallurgical Resources by 24.7% during the 2nd quarter. Exchange Traded Concepts LLC now owns 12,325 shares of the energy company’s stock worth $1,386,000 after acquiring an additional 2,442 shares in the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

Insider Buying and Selling at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, CFO Joshua Todd Munsey sold 2,135 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $157.00, for a total value of $335,195.00. Following the transaction, the chief financial officer directly owned 4,466 shares in the company, valued at approximately $701,162. This trade represents a 32.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth S. Courtis bought 55,000 shares of the 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 in the company, valued at approximately $97,214,437.68. The trade was a 8.78% increase in their position. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company’s stock.

Analyst Upgrades and Downgrades

AMR has been the topic of several research analyst reports. Jefferies Financial Group raised their target price on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, August 11th. Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research note on Wednesday. B. Riley dropped their price target on Alpha Metallurgical Resources from $173.00 to $171.00 and set a “buy” rating on the stock in a research note on Tuesday, August 5th. Finally, Wall Street Zen upgraded Alpha Metallurgical Resources from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alpha Metallurgical Resources presently has an average rating of “Hold” and a consensus price target of $160.50.

Alpha Metallurgical Resources Stock Down 1.3%

NYSE:AMR opened at $167.46 on Friday. The stock’s 50 day moving average price is $150.68 and its 200 day moving average price is $129.67. The company has a market capitalization of $2.19 billion, a PE ratio of -58.76 and a beta of 0.94. Alpha Metallurgical Resources, Inc. has a 52-week low of $97.41 and a 52-week high of $255.04.

Alpha Metallurgical Resources (NYSE:AMR) last announced its earnings results on Friday, August 8th. The energy company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($2.38) by $2.00. Alpha Metallurgical Resources had a negative return on equity of 2.28% and a negative net margin of 1.57%.The company had revenue of $550.27 million for the quarter, compared to the consensus estimate of $552.15 million. During the same period last year, the business posted $4.49 EPS. The company’s revenue was down 31.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Alpha Metallurgical Resources, Inc. will post 14.31 EPS 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.