PDT Partners LLC Takes Position in Alpha Metallurgical Resources, Inc. $AMR

PDT Partners LLC bought a new stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR) in the second quarter, HoldingsChannel.com reports. The fund bought 56,797 shares of the energy company’s stock, valued at approximately $9,368,000.

Other large investors also recently bought and sold shares of the company. Dalal Street LLC grew its stake in shares of Alpha Metallurgical Resources by 2.1% in the 4th quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock worth $108,535,000 after buying an additional 11,000 shares in the last quarter. Kettle Hill Capital Management LLC bought a new stake in shares of Alpha Metallurgical Resources in the 4th quarter worth about $4,823,000. Old West Investment Management LLC purchased a new stake in shares of Alpha Metallurgical Resources during the 2nd quarter valued at about $9,932,000. Goehring & Rozencwajg Associates LLC raised its position in shares of 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 valued at $49,683,000 after buying an additional 163,144 shares in the last quarter. Finally, Marnell Management LLC bought a new position in shares of Alpha Metallurgical Resources in the 4th quarter valued at about $1,116,000. Institutional investors own 84.29% of the company’s stock.

Insider Activity

In other news, EVP Mark Matthew Manno sold 460 shares of the company’s stock in a transaction that occurred on 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kenneth S. Courtis purchased 15,000 shares of Alpha Metallurgical Resources stock in a transaction dated Thursday, August 20th. The stock was acquired at an average price of $193.50 per share, for a total transaction of $2,902,500.00. Following the completion of the acquisition, the director owned 1,015,394 shares of the company’s stock, valued at approximately $196,478,739. This trade represents a 1.50% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 30,000 shares of company stock valued at $5,992,450. 18.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. B. Riley Financial dropped their price target on Alpha Metallurgical Resources from $189.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, August 20th. Atlantic Securities set a $194.00 price objective on Alpha Metallurgical Resources in a research note on Thursday, April 30th. UBS Group assumed coverage on Alpha Metallurgical Resources in a report on Friday, July 10th. They issued a “neutral” rating and a $165.00 target price for the company. Jefferies Financial Group reissued a “hold” rating and set a $160.00 target price on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 21st. Finally, Weiss Ratings lowered Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Alpha Metallurgical Resources currently has a consensus rating of “Reduce” and a consensus target price of $176.00.

Alpha Metallurgical Resources Price Performance

AMR stock opened at $216.14 on Wednesday. The stock has a market cap of $2.74 billion, a PE ratio of -60.38 and a beta of 0.65. Alpha Metallurgical Resources, Inc. has a 12 month low of $133.64 and a 12 month high of $253.82. The company has a 50-day moving average price of $160.52 and a 200 day moving average price of $180.90. 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 quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. The company had revenue of $421.29 million for the quarter, compared to analyst estimates of $521.61 million. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.38) EPS. Equities research analysts anticipate that Alpha Metallurgical Resources, Inc. will post -2.4 earnings per share for the current year.

Alpha Metallurgical Resources 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.