State of Alaska Department of Revenue Acquires 454 Shares of Alpha Metallurgical Resources, Inc. $AMR

State of Alaska Department of Revenue grew its holdings in Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 7.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,513 shares of the energy company’s stock after purchasing an additional 454 shares during the period. State of Alaska Department of Revenue’s holdings in Alpha Metallurgical Resources were worth $731,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. American Century Companies Inc. raised its position in shares of Alpha Metallurgical Resources by 6.3% in the first quarter. American Century Companies Inc. now owns 381,450 shares of the energy company’s stock valued at $47,777,000 after purchasing an additional 22,444 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in shares of Alpha Metallurgical Resources by 50.9% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 136,217 shares of the energy company’s stock valued at $17,061,000 after purchasing an additional 45,934 shares during the period. Millennium Management LLC increased its holdings in Alpha Metallurgical Resources by 208.0% during the 1st quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock worth $13,290,000 after acquiring an additional 71,653 shares during the period. Goehring & Rozencwajg Associates LLC increased its holdings in Alpha Metallurgical Resources by 2.6% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 73,689 shares of the energy company’s stock worth $9,212,000 after acquiring an additional 1,889 shares during the period. Finally, Hosking Partners LLP increased its holdings in Alpha Metallurgical Resources by 8.7% during the 1st quarter. Hosking Partners LLP now owns 60,014 shares of the energy company’s stock worth $7,517,000 after acquiring an additional 4,794 shares during the period. Institutional investors own 84.29% of the company’s stock.

Insider Transactions at Alpha Metallurgical Resources

In other news, CFO Joshua Todd Munsey sold 2,135 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $157.00, for a total value of $335,195.00. Following the transaction, the chief financial officer owned 4,466 shares of the company’s stock, valued at $701,162. This represents a 32.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth S. Courtis purchased 55,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was bought at an average cost of $142.64 per share, for a total transaction of $7,845,200.00. Following the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 16.00% of the company’s stock.

Analyst Ratings Changes

AMR has been the topic of a number of analyst reports. Wall Street Zen raised shares of Alpha Metallurgical Resources from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Jefferies Financial Group upped their target price on shares of Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, August 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Saturday, September 27th. Finally, B. Riley decreased their target price on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a “buy” rating on the stock in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $160.50.

Alpha Metallurgical Resources Price Performance

Shares of NYSE:AMR opened at $165.18 on Wednesday. The company’s fifty day moving average price is $148.68 and its 200-day moving average price is $129.13. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -57.96 and a beta of 0.94. Alpha Metallurgical Resources, Inc. has a one year low of $97.41 and a one year high of $255.04.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Friday, August 8th. The energy company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($2.38) by $2.00. The firm had revenue of $550.27 million for the quarter, compared to analyst estimates of $552.15 million. Alpha Metallurgical Resources had a negative net margin of 1.57% and a negative return on equity of 2.28%. The business’s revenue for the quarter was down 31.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.49 EPS. As a group, equities research analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

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.