Covestor Ltd Sells 2,416 Shares of Alpha Metallurgical Resources, Inc. $AMR

Covestor Ltd decreased its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 59.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,636 shares of the energy company’s stock after selling 2,416 shares during the period. Covestor Ltd’s holdings in Alpha Metallurgical Resources were worth $269,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in AMR. State Street Corp grew its stake 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 worth $97,400,000 after purchasing an additional 185,281 shares during the period. Dalal Street LLC boosted its holdings in Alpha Metallurgical Resources by 11.0% during the second quarter. Dalal Street LLC now owns 460,327 shares of the energy company’s stock worth $51,778,000 after buying an additional 45,711 shares during the last quarter. American Century Companies Inc. boosted its holdings in Alpha Metallurgical Resources by 3.4% during the second quarter. American Century Companies Inc. now owns 394,334 shares of the energy company’s stock worth $44,355,000 after buying an additional 12,884 shares during the last quarter. Gendell Jeffrey L grew its position in shares of Alpha Metallurgical Resources by 30.9% during the 2nd quarter. Gendell Jeffrey L now owns 296,396 shares of the energy company’s stock worth $33,339,000 after buying an additional 69,950 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Alpha Metallurgical Resources by 6.1% in the 2nd quarter. Geode Capital Management LLC now owns 268,609 shares of the energy company’s stock valued at $30,219,000 after acquiring an additional 15,525 shares during the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMR. Jefferies Financial Group lifted their price objective on shares of Alpha Metallurgical Resources from $165.00 to $205.00 and gave the stock a “hold” rating in a research note on Tuesday. Weiss Ratings reissued a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Alpha Metallurgical Resources presently has a consensus rating of “Hold” and a consensus price target of $188.00.

Insider Activity

In other news, insider Daniel E. Horn sold 8,125 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $188.32, for a total transaction of $1,530,100.00. Following the completion of the transaction, the insider directly owned 4,989 shares of the company’s stock, valued at $939,528.48. This represents a 61.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth S. Courtis bought 9,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was purchased at an average cost of $188.16 per share, for a total transaction of $1,693,440.00. Following the transaction, the director owned 816,537 shares in the company, valued at $153,639,601.92. The trade was a 1.11% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 98,576 shares of company stock worth $17,994,174 over the last three months. Corporate insiders own 16.00% of the company’s stock.

Alpha Metallurgical Resources Stock Up 0.8%

Alpha Metallurgical Resources stock opened at $234.72 on Thursday. The company has a 50 day moving average of $195.20 and a 200-day moving average of $164.84. Alpha Metallurgical Resources, Inc. has a twelve month low of $97.41 and a twelve month high of $253.82. The stock has a market capitalization of $3.02 billion, a PE ratio of -65.93 and a beta of 0.79.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings data on Thursday, November 6th. The energy company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.07). The company had revenue of $526.78 million during the quarter, compared to the consensus estimate of $543.77 million. Alpha Metallurgical Resources had a negative net margin of 2.09% and a negative return on equity of 2.88%. The company’s revenue was down 21.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 earnings per share. Equities analysts anticipate that Alpha Metallurgical Resources, Inc. will post 14.31 EPS 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.