Amalgamated Bank Buys 3,187 Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Amalgamated Bank raised its stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 244.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,493 shares of the energy company’s stock after purchasing an additional 3,187 shares during the period. Amalgamated Bank’s holdings in Alpha Metallurgical Resources were worth $1,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue bought a new stake in Alpha Metallurgical Resources in the fourth quarter worth $2,465,000. Illinois Municipal Retirement Fund purchased a new position in shares of Alpha Metallurgical Resources during the 4th quarter worth about $2,302,000. Raymond James & Associates grew its holdings in Alpha Metallurgical Resources by 203.8% during the 3rd quarter. Raymond James & Associates now owns 9,546 shares of the energy company’s stock valued at $2,479,000 after purchasing an additional 6,404 shares during the last quarter. Invesco Ltd. raised its position in Alpha Metallurgical Resources by 180.9% in the 3rd quarter. Invesco Ltd. now owns 115,816 shares of the energy company’s stock worth $30,081,000 after purchasing an additional 74,583 shares during the period. Finally, Louisiana State Employees Retirement System bought a new stake in Alpha Metallurgical Resources in the fourth quarter worth about $2,000,000. 84.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMR. B. Riley increased their price target on Alpha Metallurgical Resources from $374.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Benchmark reiterated a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Tuesday, May 7th.

Insider Activity

In related news, Director David J. Stetson sold 30,694 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $392.30, for a total value of $12,041,256.20. Following the completion of the sale, the director now directly owns 26,054 shares of the company’s stock, valued at $10,220,984.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alpha Metallurgical Resources news, Director David J. Stetson sold 30,694 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $392.30, for a total transaction of $12,041,256.20. Following the completion of the sale, the director now owns 26,054 shares in the company, valued at $10,220,984.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David J. Stetson sold 4,502 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $388.26, for a total value of $1,747,946.52. Following the sale, the director now directly owns 20,104 shares in the company, valued at approximately $7,805,579.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,971 shares of company stock worth $55,479,986. Company insiders own 16.40% of the company’s stock.

Alpha Metallurgical Resources Price Performance

Shares of AMR stock opened at $290.63 on Tuesday. The company has a market capitalization of $3.78 billion, a P/E ratio of 7.04 and a beta of 1.38. The company’s 50-day simple moving average is $325.51 and its two-hundred day simple moving average is $327.52. Alpha Metallurgical Resources, Inc. has a one year low of $132.72 and a one year high of $452.00.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings data on Monday, May 6th. The energy company reported $9.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.61 by ($0.02). The firm had revenue of $864.07 million during the quarter, compared to the consensus estimate of $845.35 million. Alpha Metallurgical Resources had a return on equity of 36.77% and a net margin of 16.89%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the company earned $17.01 EPS. On average, research analysts expect that Alpha Metallurgical Resources, Inc. will post 28.91 EPS for the current fiscal year.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc, a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company offers metallurgical coal products. It operates twenty-two active mines and nine coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc and changed its name to Alpha Metallurgical Resources, Inc in February 2021.