Renaissance Technologies LLC Sells 19,100 Shares of Alpha Metallurgical Resources, Inc. $AMR

Renaissance Technologies LLC reduced its stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 592,815 shares of the energy company’s stock after selling 19,100 shares during the period. Renaissance Technologies LLC owned 4.66% of Alpha Metallurgical Resources worth $121,687,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. State Street Corp grew its position in shares of Alpha Metallurgical Resources by 27.2% in 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 last quarter. Goehring & Rozencwajg Associates LLC lifted its holdings in Alpha Metallurgical Resources by 206.8% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company’s stock worth $49,683,000 after purchasing an additional 163,144 shares during the last quarter. Millennium Management LLC boosted its stake in Alpha Metallurgical Resources by 208.0% in the 1st quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock valued at $13,290,000 after purchasing an additional 71,653 shares during the period. Two Sigma Investments LP bought a new stake in Alpha Metallurgical Resources in the 3rd quarter valued at $8,132,000. Finally, Marshall Wace LLP acquired a new position in Alpha Metallurgical Resources in the 2nd quarter valued at $5,284,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

Insider Buying and Selling

In other Alpha Metallurgical Resources news, EVP Mark Matthew Manno sold 460 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $214.64, for a total value of $98,734.40. Following the transaction, the executive vice president directly owned 3,966 shares of the company’s stock, valued at $851,262.24. This trade represents a 10.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth S. Courtis bought 10,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was purchased at an average price of $200.73 per share, with a total value of $2,007,300.00. Following the completion of the transaction, the director directly owned 985,394 shares in the company, valued at approximately $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. 18.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Alpha Metallurgical Resources Price Performance

Shares of NYSE AMR opened at $142.88 on Friday. The stock has a market capitalization of $1.82 billion, a PE ratio of -47.62 and a beta of 0.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.67 and a quick ratio of 2.81. The business has a fifty day moving average price of $174.36 and a two-hundred day moving average price of $190.98. Alpha Metallurgical Resources, Inc. has a fifty-two week low of $113.00 and a fifty-two week high of $253.82.

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

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.