Louisiana State Employees Retirement System Makes New $985,000 Investment in Alpha Metallurgical Resources, Inc. $AMR

Louisiana State Employees Retirement System bought a new position in Alpha Metallurgical Resources, Inc. (NYSE:AMR) in the 1st quarter, HoldingsChannel reports. The fund bought 4,800 shares of the energy company’s stock, valued at approximately $985,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Los Angeles Capital Management LLC acquired a new position in Alpha Metallurgical Resources during the fourth quarter valued at $29,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Alpha Metallurgical Resources by 215.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 164 shares of the energy company’s stock worth $33,000 after purchasing an additional 112 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Alpha Metallurgical Resources during the fourth quarter worth approximately $45,000. PNC Financial Services Group Inc. boosted its holdings in shares of Alpha Metallurgical Resources by 85.4% during the third quarter. PNC Financial Services Group Inc. now owns 380 shares of the energy company’s stock worth $62,000 after purchasing an additional 175 shares during the period. Finally, Hantz Financial Services Inc. grew its position in Alpha Metallurgical Resources by 67.9% during the fourth quarter. Hantz Financial Services Inc. now owns 403 shares of the energy company’s stock valued at $81,000 after purchasing an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark Matthew Manno sold 460 shares of the stock in a transaction dated 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. This represents a 10.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth S. Courtis acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average cost of $200.73 per share, for a total transaction of $2,007,300.00. Following the completion of the purchase, the director directly owned 985,394 shares in the company, valued at $197,798,137.62. This represents a 1.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 18.20% of the company’s stock.

Alpha Metallurgical Resources Stock Down 0.2%

Alpha Metallurgical Resources stock opened at $159.73 on Friday. The company has a market capitalization of $2.03 billion, a P/E ratio of -53.24 and a beta of 0.63. The firm’s fifty day simple moving average is $186.63 and its 200-day simple moving average is $196.69. The company has a current ratio of 3.67, a quick ratio of 2.81 and a debt-to-equity ratio of 0.01. Alpha Metallurgical Resources, Inc. has a 1-year low of $109.21 and a 1-year high of $253.82.

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

Wall Street Analyst Weigh In

AMR has been the topic of a number of recent research reports. Zacks Research downgraded Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Atlantic Securities set a $194.00 price target on Alpha Metallurgical Resources in a research note on Thursday, April 30th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Wednesday, June 24th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $195.33.

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.