Alpha Metallurgical Resources, Inc. $AMR Stock Holdings Increased by Ballast Asset Management LP

Ballast Asset Management LP boosted its holdings in Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 119.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,338 shares of the energy company’s stock after buying an additional 3,449 shares during the quarter. Ballast Asset Management LP’s holdings in Alpha Metallurgical Resources were worth $1,040,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Alpha Metallurgical Resources by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,256 shares of the energy company’s stock worth $704,000 after acquiring an additional 76 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Alpha Metallurgical Resources by 26.5% in the 3rd quarter. GAMMA Investing LLC now owns 391 shares of the energy company’s stock valued at $64,000 after buying an additional 82 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Alpha Metallurgical Resources by 48.9% in the third quarter. Farther Finance Advisors LLC now owns 265 shares of the energy company’s stock worth $43,000 after buying an additional 87 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Alpha Metallurgical Resources by 3.5% during the 3rd quarter. Amalgamated Bank now owns 3,233 shares of the energy company’s stock valued at $531,000 after purchasing an additional 108 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its position in shares of Alpha Metallurgical Resources by 2.9% in the second quarter. Yousif Capital Management LLC now owns 4,429 shares of the energy company’s stock worth $498,000 after buying an additional 126 shares during the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

Alpha Metallurgical Resources Price Performance

NYSE:AMR opened at $209.89 on Monday. The business’s 50-day simple moving average is $203.89 and its 200-day simple moving average is $170.40. Alpha Metallurgical Resources, Inc. has a fifty-two week low of $97.41 and a fifty-two week high of $253.82. The stock has a market capitalization of $2.70 billion, a PE ratio of -58.96 and a beta of 0.78.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Thursday, November 6th. The energy company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.07). Alpha Metallurgical Resources had a negative net margin of 2.09% and a negative return on equity of 2.88%. The company had revenue of $526.78 million during the quarter, compared to the consensus estimate of $543.77 million. During the same period in the previous year, the firm posted $0.29 EPS. The business’s quarterly revenue was down 21.6% compared to the same quarter last year. On average, research analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Kenneth S. Courtis bought 36,000 shares of the business’s stock in a transaction on Monday, December 8th. The shares were purchased at an average price of $175.26 per share, for a total transaction of $6,309,360.00. Following the purchase, the director owned 770,537 shares of the company’s stock, valued at approximately $135,044,314.62. The trade was a 4.90% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Gorzynski purchased 38,576 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were acquired at an average cost of $188.50 per share, with a total value of $7,271,576.00. Following the completion of the purchase, the director directly owned 644,025 shares in the company, valued at approximately $121,398,712.50. This represents a 6.37% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 98,576 shares of company stock worth $17,994,174. 16.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMR. Jefferies Financial Group boosted their price objective on shares of Alpha Metallurgical Resources from $165.00 to $205.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Texas Capital downgraded Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Alpha Metallurgical Resources currently has a consensus rating of “Hold” and an average target price of $188.00.

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.