American Century Companies Inc. Acquires 22,243 Shares of Alpha Metallurgical Resources, Inc. $AMR

American Century Companies Inc. boosted its stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 5.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 416,577 shares of the energy company’s stock after acquiring an additional 22,243 shares during the quarter. American Century Companies Inc. owned approximately 3.24% of Alpha Metallurgical Resources worth $68,356,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in shares of Alpha Metallurgical Resources by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 6,256 shares of the energy company’s stock worth $704,000 after purchasing an additional 76 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Alpha Metallurgical Resources by 26.5% in the third quarter. GAMMA Investing LLC now owns 391 shares of the energy company’s stock valued at $64,000 after purchasing an additional 82 shares in the last quarter. Farther Finance Advisors LLC raised its position in Alpha Metallurgical Resources by 48.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 265 shares of the energy company’s stock worth $43,000 after purchasing an additional 87 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Alpha Metallurgical Resources by 1.6% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 6,022 shares of the energy company’s stock worth $988,000 after buying an additional 94 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in Alpha Metallurgical Resources by 3.5% during the 3rd quarter. Amalgamated Bank now owns 3,233 shares of the energy company’s stock worth $531,000 after buying an additional 108 shares in the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Monday. Texas Capital lowered Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Jefferies Financial Group reiterated a “hold” rating and issued a $185.00 price objective on shares of Alpha Metallurgical Resources in a research report on Monday. Weiss Ratings reissued a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Monday, December 29th. Finally, Zacks Research lowered shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 5th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $194.00.

Alpha Metallurgical Resources Stock Performance

Shares of Alpha Metallurgical Resources stock opened at $182.73 on Thursday. The company has a market capitalization of $2.34 billion, a PE ratio of -38.55 and a beta of 0.79. Alpha Metallurgical Resources, Inc. has a 12 month low of $97.41 and a 12 month high of $253.82. The company has a current ratio of 4.47, a quick ratio of 3.53 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $205.75 and its 200 day simple moving average is $178.29.

Alpha Metallurgical Resources (NYSE:AMR) last posted its earnings results on Friday, February 27th. The energy company reported ($1.34) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.34). Alpha Metallurgical Resources had a negative return on equity of 3.88% and a negative net margin of 2.90%.The firm had revenue of $520.47 million during the quarter, compared to analysts’ expectations of $538.45 million. During the same period in the previous year, the firm earned ($0.16) earnings per share. The company’s revenue was down 15.7% on a year-over-year basis. On average, research analysts predict that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Insider Activity at Alpha Metallurgical Resources

In other news, insider Daniel E. Horn sold 8,125 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $188.32, for a total value of $1,530,100.00. Following the completion of the transaction, the insider owned 4,989 shares in the company, valued at $939,528.48. This represents a 61.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth S. Courtis acquired 36,000 shares of the stock in a transaction dated Monday, December 8th. The shares were bought at an average cost of $175.26 per share, with a total value of $6,309,360.00. Following the transaction, the director directly owned 770,537 shares of the company’s stock, valued at $135,044,314.62. This represents a 4.90% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 98,576 shares of company stock worth $17,994,174. 16.00% of the stock is owned by company insiders.

Alpha Metallurgical Resources Company Profile

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.