3,477 Shares in Alpha Metallurgical Resources, Inc. $AMR Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. acquired a new stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,477 shares of the energy company’s stock, valued at approximately $391,000.

Several other large investors have also made changes to their positions in AMR. First Citizens Bank & Trust Co. acquired a new stake in Alpha Metallurgical Resources in the 2nd quarter valued at $481,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Alpha Metallurgical Resources during the second quarter valued at $531,000. Stratos Wealth Advisors LLC grew its position in shares of Alpha Metallurgical Resources by 49.0% in the second quarter. Stratos Wealth Advisors LLC now owns 15,966 shares of the energy company’s stock valued at $1,796,000 after purchasing an additional 5,247 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Alpha Metallurgical Resources by 495.1% during the second quarter. Allianz Asset Management GmbH now owns 11,307 shares of the energy company’s stock worth $1,272,000 after purchasing an additional 9,407 shares in the last quarter. Finally, Mutual Advisors LLC increased its stake in shares of Alpha Metallurgical Resources by 57.7% during the second quarter. Mutual Advisors LLC now owns 7,535 shares of the energy company’s stock worth $848,000 after purchasing an additional 2,757 shares in the last quarter. 84.29% of the stock is owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Price Performance

Shares of Alpha Metallurgical Resources stock opened at $161.46 on Thursday. The stock’s 50 day simple moving average is $163.80 and its 200-day simple moving average is $139.51. The stock has a market cap of $2.08 billion, a P/E ratio of -45.36 and a beta of 0.89. Alpha Metallurgical Resources, Inc. has a 1-year low of $97.41 and a 1-year high of $255.04.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings data on Thursday, November 6th. The energy company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.07). The company had revenue of $526.78 million for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was down 21.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS. As a group, research analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current fiscal year.

Insider Activity at Alpha Metallurgical Resources

In other news, Director Kenneth S. Courtis purchased 55,000 shares of the stock in a transaction dated Friday, September 12th. The shares were purchased at an average price of $142.64 per share, with a total value of $7,845,200.00. Following the transaction, the director owned 681,537 shares in the company, valued at $97,214,437.68. The trade was a 8.78% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AMR shares. B. Riley decreased their price target on shares of 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. Wall Street Zen upgraded Alpha Metallurgical Resources from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Tuesday. Finally, Jefferies Financial Group increased their price objective on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a “hold” rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $160.50.

About Alpha Metallurgical Resources

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.