Mackenzie Financial Corp Trims Position in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Mackenzie Financial Corp cut its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 27.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,209 shares of the energy company’s stock after selling 455 shares during the period. Mackenzie Financial Corp’s holdings in Alpha Metallurgical Resources were worth $410,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at approximately $2,465,000. Raymond James & Associates increased its stake in shares of Alpha Metallurgical Resources by 203.8% during the third quarter. Raymond James & Associates now owns 9,546 shares of the energy company’s stock valued at $2,479,000 after buying an additional 6,404 shares during the period. Invesco Ltd. increased its stake in shares of Alpha Metallurgical Resources by 180.9% during the third quarter. Invesco Ltd. now owns 115,816 shares of the energy company’s stock valued at $30,081,000 after buying an additional 74,583 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Alpha Metallurgical Resources during the third quarter valued at approximately $28,239,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at approximately $2,000,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Stock Up 0.8 %

NYSE AMR opened at $343.90 on Friday. Alpha Metallurgical Resources, Inc. has a twelve month low of $132.72 and a twelve month high of $452.00. The firm has a market capitalization of $4.47 billion, a PE ratio of 7.06 and a beta of 1.35. The stock’s 50 day moving average is $342.45 and its 200 day moving average is $320.25.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings results on Monday, February 26th. The energy company reported $12.88 earnings per share for the quarter, beating the consensus estimate of $8.78 by $4.10. Alpha Metallurgical Resources had a return on equity of 46.22% and a net margin of 20.80%. The company had revenue of $959.90 million for the quarter, compared to analyst estimates of $796.65 million. During the same period in the previous year, the company posted $13.37 earnings per share. The firm’s revenue was up 16.6% on a year-over-year basis. On average, research analysts anticipate that Alpha Metallurgical Resources, Inc. will post 29.82 earnings per share for the current year.

Insider Activity at Alpha Metallurgical Resources

In related news, CAO Roger Lee Nicholson sold 6,629 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $369.71, for a total transaction of $2,450,807.59. Following the sale, the chief accounting officer now directly owns 10,720 shares in the company, valued at $3,963,291.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alpha Metallurgical Resources news, CAO Roger Lee Nicholson sold 6,629 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $369.71, for a total value of $2,450,807.59. Following the sale, the chief accounting officer now directly owns 10,720 shares of the company’s stock, valued at $3,963,291.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel E. Horn sold 100 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $360.29, for a total value of $36,029.00. Following the completion of the sale, the insider now directly owns 6,462 shares in the company, valued at $2,328,193.98. The disclosure for this sale can be found here. Insiders have sold 153,971 shares of company stock worth $55,479,986 over the last ninety days. 15.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, B. Riley reduced their target price on Alpha Metallurgical Resources from $381.00 to $374.00 and set a “buy” rating on the stock in a research note on Monday, April 15th.

Alpha Metallurgical Resources Company 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.