Fifth Third Bancorp Purchases 4,100 Shares of Alpha Metallurgical Resources, Inc. $AMR

Fifth Third Bancorp raised its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 10,512.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 4,139 shares of the energy company’s stock after purchasing an additional 4,100 shares during the quarter. Fifth Third Bancorp’s holdings in Alpha Metallurgical Resources were worth $850,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Dalal Street LLC boosted its holdings in Alpha Metallurgical Resources by 2.1% during the 4th quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock valued at $108,535,000 after acquiring an additional 11,000 shares during the period. Kettle Hill Capital Management LLC bought a new position in Alpha Metallurgical Resources in the 4th quarter valued at $4,823,000. Marnell Management LLC purchased a new stake in Alpha Metallurgical Resources in the fourth quarter worth $1,116,000. Impala Asset Management LLC bought a new stake in shares of Alpha Metallurgical Resources during the fourth quarter worth $4,397,000. Finally, Hosking Partners LLP lifted its position in shares of Alpha Metallurgical Resources by 5.7% during the fourth quarter. Hosking Partners LLP now owns 79,313 shares of the energy company’s stock worth $15,853,000 after purchasing an additional 4,307 shares during the last quarter. Institutional investors own 84.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMR. Jefferies Financial Group restated a “hold” rating and issued a $160.00 price target on shares of Alpha Metallurgical Resources in a report on Tuesday, July 21st. Atlantic Securities set a $194.00 price objective on shares of Alpha Metallurgical Resources in a report on Thursday, April 30th. UBS Group began coverage on shares of Alpha Metallurgical Resources in a research report on Friday, July 10th. They issued a “neutral” rating and a $165.00 price objective for the company. Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research note on Wednesday, June 24th. Finally, Zacks Research downgraded shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $181.50.

Alpha Metallurgical Resources Stock Down 0.0%

NYSE:AMR opened at $142.88 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.67 and a quick ratio of 2.81. Alpha Metallurgical Resources, Inc. has a 1-year low of $113.00 and a 1-year high of $253.82. The company has a 50-day moving average of $174.36 and a 200 day moving average of $190.90. The firm has a market cap of $1.82 billion, a PE ratio of -47.62 and a beta of 0.63.

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

Insider Activity

In related news, EVP Mark Matthew Manno sold 460 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $214.64, for a total value of $98,734.40. Following the completion of the transaction, the executive vice president owned 3,966 shares of the company’s stock, valued at $851,262.24. The trade was a 10.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jason E. Whitehead sold 3,901 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $212.28, for a total value of $828,104.28. Following the sale, the chief operating officer owned 10,450 shares of the company’s stock, valued at approximately $2,218,326. This represents a 27.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 18.20% of the company’s stock.

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.