Allianz Asset Management GmbH Purchases 9,407 Shares of Alpha Metallurgical Resources, Inc. $AMR

Allianz Asset Management GmbH boosted its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 495.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,307 shares of the energy company’s stock after buying an additional 9,407 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.09% of Alpha Metallurgical Resources worth $1,272,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AMR. Millennium Management LLC grew its holdings in Alpha Metallurgical Resources by 208.0% during the first quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock valued at $13,290,000 after purchasing an additional 71,653 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in Alpha Metallurgical Resources during the first quarter valued at about $6,262,000. Fuller & Thaler Asset Management Inc. grew its holdings in Alpha Metallurgical Resources by 50.9% during 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. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Alpha Metallurgical Resources during the first quarter valued at about $5,035,000. Finally, AQR Capital Management LLC grew its holdings in Alpha Metallurgical Resources by 267.9% during the first quarter. AQR Capital Management LLC now owns 42,161 shares of the energy company’s stock valued at $5,281,000 after purchasing an additional 30,700 shares during the period. Institutional investors own 84.29% of the company’s stock.

Insider Buying and Selling

In related news, CFO Joshua Todd Munsey sold 2,135 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $157.00, for a total value of $335,195.00. Following the sale, the chief financial officer directly owned 4,466 shares in the company, valued at approximately $701,162. The trade was a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth S. Courtis bought 53,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was purchased at an average price of $154.68 per share, for a total transaction of $8,198,040.00. Following the completion of the transaction, the director directly owned 734,537 shares of the company’s stock, valued at $113,618,183.16. This represents a 7.78% increase in their position. The disclosure for this purchase can be found here. 16.00% of the stock is owned by company insiders.

Alpha Metallurgical Resources Trading Up 5.6%

NYSE:AMR opened at $164.83 on Monday. The company has a market capitalization of $2.15 billion, a P/E 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 business’s 50-day moving average is $154.48 and its 200 day moving average is $132.71.

Alpha Metallurgical Resources (NYSE:AMR) last posted its 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 company had revenue of $550.27 million for the quarter, compared to the consensus estimate of $552.15 million. Alpha Metallurgical Resources had a negative return on equity of 2.28% and a negative net margin of 1.57%.The firm’s revenue for the quarter was down 31.6% on a year-over-year basis. During the same period in the previous year, the business earned $4.49 earnings per share. On average, research analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMR. Weiss Ratings reissued a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Wednesday, October 8th. B. Riley cut their target price 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. Jefferies Financial Group increased their target price on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, August 11th. Finally, Wall Street Zen upgraded Alpha Metallurgical Resources from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $160.50.

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.