Fifth Third Bancorp Acquires 4,100 Shares of Alpha Metallurgical Resources, Inc. $AMR

Fifth Third Bancorp increased its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 10,512.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,139 shares of the energy company’s stock after purchasing an additional 4,100 shares during the quarter. Fifth Third Bancorp’s holdings in Alpha Metallurgical Resources were worth $850,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in AMR. Leonteq Securities AG purchased a new stake in Alpha Metallurgical Resources during the 1st quarter valued at approximately $37,000. Louisiana State Employees Retirement System purchased a new position in shares of Alpha Metallurgical Resources in the first quarter worth $985,000. First Citizens Bank & Trust Co. boosted its position in shares of Alpha Metallurgical Resources by 1.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 4,058 shares of the energy company’s stock worth $811,000 after acquiring an additional 72 shares during the last quarter. EP Wealth Advisors LLC bought a new position in shares of Alpha Metallurgical Resources during the fourth quarter worth $233,000. Finally, Regal Partners Ltd purchased a new position in Alpha Metallurgical Resources during the fourth quarter valued at $977,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Mark Matthew Manno sold 460 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $214.64, for a total transaction of $98,734.40. Following the transaction, the executive vice president owned 3,966 shares of the company’s stock, valued at approximately $851,262.24. The trade was a 10.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kenneth S. Courtis purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average price of $200.73 per share, for a total transaction of $2,007,300.00. Following the acquisition, the director directly owned 985,394 shares in the company, valued at $197,798,137.62. This trade represents a 1.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 18.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on AMR shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research note on Wednesday, June 24th. UBS Group began coverage on Alpha Metallurgical Resources in a research report on Friday, July 10th. They set a “neutral” rating and a $165.00 price objective for the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $160.00 target price on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. Zacks Research lowered Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Finally, Atlantic Securities set a $194.00 price target on Alpha Metallurgical Resources in a report on Thursday, April 30th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $181.50.

Alpha Metallurgical Resources Price Performance

AMR stock opened at $142.88 on Monday. Alpha Metallurgical Resources, Inc. has a 52 week low of $113.00 and a 52 week high of $253.82. The firm has a market capitalization of $1.82 billion, a P/E ratio of -47.62 and a beta of 0.63. The company has a fifty day simple moving average of $174.36 and a two-hundred day simple moving average of $190.90. The company has a quick ratio of 2.81, a current ratio of 3.67 and a debt-to-equity ratio of 0.01.

Alpha Metallurgical Resources (NYSE:AMR) last posted its earnings results on Friday, May 8th. The energy company reported ($0.86) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.86). The firm had revenue of $447.32 million for the quarter, compared to the consensus estimate of $535.15 million. Alpha Metallurgical Resources had a negative net margin of 1.83% and a negative return on equity of 2.47%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.60) EPS. Analysts anticipate that Alpha Metallurgical Resources, Inc. will post 8.21 earnings per share for the current fiscal year.

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.