VIRGINIA RETIREMENT SYSTEMS ET Al Invests $531,000 in Alpha Metallurgical Resources, Inc. $AMR

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,724 shares of the energy company’s stock, valued at approximately $531,000.

Several other hedge funds also recently made changes to their positions in the business. Signaturefd LLC raised its position in Alpha Metallurgical Resources by 306.1% during the first quarter. Signaturefd LLC now owns 199 shares of the energy company’s stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. Summit Securities Group LLC acquired a new position in Alpha Metallurgical Resources during the first quarter valued at approximately $38,000. CWM LLC raised its position in Alpha Metallurgical Resources by 1,205.1% during the first quarter. CWM LLC now owns 509 shares of the energy company’s stock valued at $64,000 after purchasing an additional 470 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Alpha Metallurgical Resources during the first quarter valued at approximately $93,000. Finally, Blue Trust Inc. raised its position in Alpha Metallurgical Resources by 68.0% during the second quarter. Blue Trust Inc. now owns 914 shares of the energy company’s stock valued at $103,000 after purchasing an additional 370 shares in the last quarter. 84.29% of the stock is owned by institutional investors.

Alpha Metallurgical Resources Stock Up 5.6%

AMR stock opened at $164.83 on Friday. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -57.84 and a beta of 0.94. Alpha Metallurgical Resources, Inc. has a 12-month low of $97.41 and a 12-month high of $255.04. The company’s fifty day simple moving average is $154.48 and its 200 day simple moving average is $132.60.

Alpha Metallurgical Resources (NYSE:AMR) last released its earnings results on Friday, August 8th. The energy company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.38) by $2.00. The business 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%. Alpha Metallurgical Resources’s revenue for the quarter was down 31.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.49 earnings per share. Research analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Insider Activity at Alpha Metallurgical Resources

In related news, Director Kenneth S. Courtis acquired 55,000 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were purchased at an average price of $142.64 per share, for a total transaction of $7,845,200.00. Following the completion of the acquisition, the director owned 681,537 shares of the company’s stock, valued at approximately $97,214,437.68. This trade represents a 8.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jason E. Whitehead sold 12,004 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $161.84, for a total transaction of $1,942,727.36. Following the transaction, the chief operating officer directly owned 9,673 shares in the company, valued at $1,565,478.32. This trade represents a 55.38% decrease in their position. The disclosure for this sale can be found here. 16.00% of the stock is owned by company insiders.

Analyst Ratings Changes

AMR has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Alpha Metallurgical Resources from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. 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 research note on Tuesday, August 5th. Finally, Jefferies Financial Group boosted their target price on shares of Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently 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.