Ieq Capital LLC Acquires New Holdings in Alpha Metallurgical Resources, Inc. $AMR

Ieq Capital LLC acquired a new stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 2,412 shares of the energy company’s stock, valued at approximately $302,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Old West Investment Management LLC raised its holdings in Alpha Metallurgical Resources by 86.9% in the 1st quarter. Old West Investment Management LLC now owns 22,848 shares of the energy company’s stock valued at $2,862,000 after buying an additional 10,621 shares during the period. Comerica Bank increased its stake in Alpha Metallurgical Resources by 7.5% during the first quarter. Comerica Bank now owns 5,404 shares of the energy company’s stock worth $677,000 after purchasing an additional 378 shares during the period. AlphaQuest LLC purchased a new stake in Alpha Metallurgical Resources during the first quarter worth about $566,000. EntryPoint Capital LLC increased its stake in Alpha Metallurgical Resources by 57.1% during the first quarter. EntryPoint Capital LLC now owns 3,319 shares of the energy company’s stock worth $416,000 after purchasing an additional 1,206 shares during the period. Finally, Hsbc Holdings PLC increased its stake in Alpha Metallurgical Resources by 37.4% during the first quarter. Hsbc Holdings PLC now owns 2,363 shares of the energy company’s stock worth $290,000 after purchasing an additional 643 shares during the period. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Stock Performance

Shares of Alpha Metallurgical Resources stock opened at $145.92 on Friday. Alpha Metallurgical Resources, Inc. has a one year low of $97.41 and a one year high of $255.04. The company has a market cap of $1.90 billion, a PE ratio of -51.20 and a beta of 0.64. The business has a 50-day simple moving average of $131.95 and a 200-day simple moving average of $126.08.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings data on Friday, August 8th. The energy company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($2.38) by $2.00. Alpha Metallurgical Resources had a negative return on equity of 2.28% and a negative net margin of 1.57%.The business had revenue of $550.27 million during the quarter, compared to the consensus estimate of $552.15 million. During the same period in the previous year, the company posted $4.49 earnings per share. The business’s revenue for the quarter was down 31.6% on a year-over-year basis. On average, sell-side analysts predict that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AMR has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Alpha Metallurgical Resources from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Jefferies Financial Group boosted their price target on shares of Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, August 11th. Finally, B. Riley cut their price target on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a “buy” rating on the stock in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $160.50.

Insider Transactions at Alpha Metallurgical Resources

In related news, CFO Joshua Todd Munsey sold 2,135 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $157.00, for a total value of $335,195.00. Following the completion of the transaction, the chief financial officer directly owned 4,466 shares of the company’s stock, valued at $701,162. This represents a 32.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jason E. Whitehead sold 12,004 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $161.84, for a total value of $1,942,727.36. Following the completion of the transaction, the chief operating officer directly owned 9,673 shares of the company’s stock, valued at $1,565,478.32. This trade represents a 55.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 16.00% of the company’s stock.

Alpha Metallurgical Resources Profile

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.