Empowered Funds LLC Takes $6.24 Million Position in Alpha Metallurgical Resources, Inc. $AMR

Empowered Funds LLC acquired a new position in Alpha Metallurgical Resources, Inc. (NYSE:AMR) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 37,830 shares of the energy company’s stock, valued at approximately $6,240,000.

A number of other institutional investors and hedge funds have also bought and sold shares of AMR. Los Angeles Capital Management LLC bought a new stake in Alpha Metallurgical Resources in the 4th quarter valued at $29,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Alpha Metallurgical Resources by 215.4% during the 4th 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 during the period. Leonteq Securities AG bought a new position in shares of Alpha Metallurgical Resources during the 1st quarter worth about $37,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at about $45,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Alpha Metallurgical Resources during the second quarter valued at about $49,000. Institutional investors own 84.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMR shares. Wall Street Zen downgraded Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. UBS Group initiated coverage on Alpha Metallurgical Resources in a report on Friday, July 10th. They issued a “neutral” rating and a $165.00 price target for the company. Jefferies Financial Group reiterated a “hold” rating and issued a $160.00 price objective on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Weiss Ratings lowered Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Finally, B. Riley Financial lowered their price objective on Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, August 20th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $176.00.

Alpha Metallurgical Resources Price Performance

Shares of AMR stock opened at $226.84 on Monday. The stock’s fifty day simple moving average is $162.65 and its 200 day simple moving average is $181.34. Alpha Metallurgical Resources, Inc. has a one year low of $133.64 and a one year high of $253.82. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of -63.36 and a beta of 0.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.41 and a quick ratio of 2.37.

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

Insider Transactions at Alpha Metallurgical Resources

In other news, Director Kenneth S. Courtis purchased 5,000 shares of Alpha Metallurgical Resources stock in a transaction on Tuesday, August 25th. The shares were purchased at an average cost of $216.53 per share, for a total transaction of $1,082,650.00. Following the completion of the transaction, the director directly owned 1,020,394 shares in the company, valued at approximately $220,945,912.82. This represents a 0.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jason E. Whitehead sold 3,901 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $212.28, for a total transaction of $828,104.28. Following the sale, the chief operating officer directly owned 10,450 shares in the company, valued at $2,218,326. This represents a 27.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have purchased a total of 30,000 shares of company stock valued at $5,992,450 in the last quarter. 18.20% of the stock is currently owned by corporate insiders.

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.