Northern Trust Corp Cuts Position in Alpha Metallurgical Resources, Inc. $AMR

Northern Trust Corp lowered its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 119,619 shares of the energy company’s stock after selling 2,033 shares during the quarter. Northern Trust Corp owned approximately 0.92% of Alpha Metallurgical Resources worth $14,982,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AMR. Signaturefd LLC raised its stake in shares of Alpha Metallurgical Resources by 306.1% during the 1st quarter. Signaturefd LLC now owns 199 shares of the energy company’s stock worth $25,000 after buying an additional 150 shares during the period. AdvisorNet Financial Inc increased its holdings in Alpha Metallurgical Resources by 214.3% in the 1st quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company’s stock worth $28,000 after acquiring an additional 150 shares in the last quarter. Summit Securities Group LLC acquired a new position in Alpha Metallurgical Resources during the first quarter worth $38,000. Public Employees Retirement System of Ohio purchased a new position in Alpha Metallurgical Resources during the fourth quarter valued at $60,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Alpha Metallurgical Resources in the first quarter valued at about $64,000. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alpha Metallurgical Resources

In related news, COO Jason E. Whitehead sold 12,004 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $161.84, for a total transaction of $1,942,727.36. Following the completion of the sale, the chief operating officer directly owned 9,673 shares in the company, valued at approximately $1,565,478.32. This trade represents a 55.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joshua Todd Munsey sold 2,135 shares of Alpha Metallurgical Resources stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $157.00, for a total transaction of $335,195.00. Following the transaction, the chief financial officer directly owned 4,466 shares in the company, valued at $701,162. This trade represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 16.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on AMR. Wall Street Zen upgraded Alpha Metallurgical Resources from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. B. Riley dropped their price target on Alpha Metallurgical Resources from $173.00 to $171.00 and set a “buy” rating for the company in a research report on Tuesday, August 5th. 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 research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Alpha Metallurgical Resources currently has an average rating of “Hold” and an average target price of $160.50.

Alpha Metallurgical Resources Stock Performance

NYSE:AMR opened at $138.42 on Thursday. Alpha Metallurgical Resources, Inc. has a one year low of $97.41 and a one year high of $255.04. The stock has a market cap of $1.81 billion, a PE ratio of -48.57 and a beta of 0.64. The stock has a 50 day moving average price of $130.40 and a 200 day moving average price of $126.47.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings data on Friday, August 8th. The energy company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $552.15 million. During the same quarter in the previous year, the company posted $4.49 earnings per share. The firm’s revenue for the quarter was down 31.6% compared to the same quarter last year. As a group, analysts predict that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

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.