Bayforest Capital Ltd Sells 3,665 Shares of Alpha Metallurgical Resources, Inc. $AMR

Bayforest Capital Ltd reduced its position in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 84.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 660 shares of the energy company’s stock after selling 3,665 shares during the quarter. Bayforest Capital Ltd’s holdings in Alpha Metallurgical Resources were worth $132,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AMR. Royal Bank of Canada lifted its position in Alpha Metallurgical Resources by 55.0% in the first quarter. Royal Bank of Canada now owns 2,029 shares of the energy company’s stock worth $254,000 after buying an additional 720 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Alpha Metallurgical Resources by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,548 shares of the energy company’s stock worth $820,000 after buying an additional 295 shares during the last quarter. Millennium Management LLC lifted its position in Alpha Metallurgical Resources by 208.0% in the first quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock worth $13,290,000 after buying an additional 71,653 shares during the last quarter. Intech Investment Management LLC lifted its position in Alpha Metallurgical Resources by 48.3% in the first quarter. Intech Investment Management LLC now owns 13,149 shares of the energy company’s stock worth $1,647,000 after buying an additional 4,281 shares during the last quarter. Finally, Creative Planning lifted its position in Alpha Metallurgical Resources by 14.5% in the second quarter. Creative Planning now owns 3,465 shares of the energy company’s stock worth $390,000 after buying an additional 438 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Joshua Todd Munsey sold 2,523 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $183.24, for a total transaction of $462,314.52. Following the transaction, the chief financial officer owned 4,735 shares in the company, valued at approximately $867,641.40. This trade represents a 34.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kenneth S. Courtis purchased 25,000 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were purchased at an average price of $176.23 per share, for a total transaction of $4,405,750.00. Following the purchase, the director owned 841,537 shares of the company’s stock, valued at approximately $148,304,065.51. This trade represents a 3.06% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 58,000 shares of company stock worth $10,530,610. Company insiders own 18.20% of the company’s stock.

Alpha Metallurgical Resources Stock Performance

Shares of Alpha Metallurgical Resources stock opened at $206.25 on Wednesday. The firm has a market cap of $2.64 billion, a P/E ratio of -43.51 and a beta of 0.73. The company has a current ratio of 4.47, a quick ratio of 3.53 and a debt-to-equity ratio of 0.01. Alpha Metallurgical Resources, Inc. has a 12 month low of $97.41 and a 12 month high of $253.82. The stock’s fifty day moving average price is $190.65 and its 200-day moving average price is $189.27.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Friday, February 27th. The energy company reported ($1.34) EPS for the quarter, meeting the consensus estimate of ($1.34). The firm had revenue of $436.33 million for the quarter, compared to analyst estimates of $538.45 million. Alpha Metallurgical Resources had a negative return on equity of 3.88% and a negative net margin of 2.90%.The business’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.16) earnings per share. On average, equities research analysts expect that Alpha Metallurgical Resources, Inc. will post 18.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AMR has been the subject of a number of analyst reports. Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Texas Capital downgraded Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Zacks Research upgraded Alpha Metallurgical Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. B. Riley Financial increased their target price on Alpha Metallurgical Resources from $203.00 to $207.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $185.00 target price on shares of Alpha Metallurgical Resources in a research note on Monday, March 2nd. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $196.00.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc (NYSE: AMR) is a leading pure-play producer of high-grade metallurgical coal, primarily serving the global steelmaking industry. Headquartered in Bristol, Virginia, the company operates multiple underground and surface mining complexes across the central Appalachian and Illinois basins. Its production portfolio focuses on premium raw and semi-soft coking coal products tailored to meet the specifications of steel producers worldwide.

Formed in July 2021 through the spin-out of Contura Energy’s metallurgical coal business, Alpha Metallurgical Resources has built a reputation for operational excellence and cost-efficient mining.