Connor Clark & Lunn Investment Management Ltd. Buys New Shares in Alpha Metallurgical Resources, Inc. $AMR

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) during the second quarter, Holdings Channel reports. The institutional investor bought 54,462 shares of the energy company’s stock, valued at approximately $8,983,000.

Several other institutional investors and hedge funds have also bought and sold shares of AMR. BlackRock Inc. acquired a new stake in Alpha Metallurgical Resources in the second quarter worth $299,230,000. State Street Corp raised its holdings in shares of Alpha Metallurgical Resources by 27.2% during the second quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after purchasing an additional 185,281 shares during the period. Goehring & Rozencwajg Associates LLC raised its holdings in shares of Alpha Metallurgical Resources by 206.8% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company’s stock valued at $49,683,000 after purchasing an additional 163,144 shares during the period. Millennium Management LLC boosted its position in shares of Alpha Metallurgical Resources by 208.0% during the 1st quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock worth $13,290,000 after purchasing an additional 71,653 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Alpha Metallurgical Resources during the 2nd quarter worth about $10,969,000. 84.29% of the stock is owned by institutional investors.

Insider Buying and Selling at Alpha Metallurgical Resources

In related news, Director Kenneth S. Courtis acquired 15,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was purchased at an average cost of $193.50 per share, with a total value of $2,902,500.00. Following the completion of the purchase, the director directly owned 1,015,394 shares in the company, valued at $196,478,739. This trade represents a 1.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jason E. Whitehead sold 3,901 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $212.28, for a total value of $828,104.28. Following the completion of the transaction, the chief operating officer owned 10,450 shares in the company, valued at $2,218,326. This represents a 27.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders purchased 30,000 shares of company stock worth $5,992,450. Insiders own 18.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on AMR. UBS Group assumed coverage on Alpha Metallurgical Resources in a research report on Friday, July 10th. They issued a “neutral” rating and a $165.00 target price for the company. Atlantic Securities set a $194.00 price target on Alpha Metallurgical Resources in a report on Thursday, April 30th. Wall Street Zen cut Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. B. Riley Financial decreased their price objective on Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, August 20th. Finally, Weiss Ratings lowered Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $176.00.

Alpha Metallurgical Resources Stock Up 0.7%

Alpha Metallurgical Resources stock opened at $217.12 on Thursday. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -60.65 and a beta of 0.65. The firm’s fifty day moving average price is $160.99 and its two-hundred day moving average price is $181.02. Alpha Metallurgical Resources, Inc. has a 1-year low of $133.64 and a 1-year high of $253.82. The company has a current ratio of 3.41, a quick ratio of 2.37 and a debt-to-equity ratio of 0.01.

Alpha Metallurgical Resources (NYSE:AMR) last posted its earnings results on Friday, August 7th. The energy company reported ($0.96) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.01. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The company had revenue of $421.29 million during the quarter, compared to the consensus estimate of $521.61 million. During the same period in the previous year, the firm posted ($0.38) earnings per share. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, equities research analysts predict that Alpha Metallurgical Resources, Inc. will post -2.4 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.