Alpha Metallurgical Resources, Inc. $AMR Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 24.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,300 shares of the energy company’s stock after selling 9,901 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.23% of Alpha Metallurgical Resources worth $3,408,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in Alpha Metallurgical Resources by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 83,225 shares of the energy company’s stock worth $9,361,000 after buying an additional 4,167 shares during the period. South Dakota Investment Council purchased a new stake in shares of Alpha Metallurgical Resources during the second quarter worth $434,000. Envestnet Asset Management Inc. purchased a new position in Alpha Metallurgical Resources in the second quarter valued at $391,000. First Citizens Bank & Trust Co. acquired a new position in Alpha Metallurgical Resources during the 2nd quarter worth $481,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Alpha Metallurgical Resources during the 2nd quarter worth about $531,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Insider Buying and Selling at Alpha Metallurgical Resources

In related news, Director Kenneth S. Courtis purchased 53,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were purchased at an average price of $154.68 per share, with a total value of $8,198,040.00. Following the completion of the acquisition, the director directly owned 734,537 shares in the company, valued at $113,618,183.16. This represents a 7.78% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 16.00% of the company’s stock.

Alpha Metallurgical Resources Trading Down 0.3%

Shares of AMR opened at $159.00 on Friday. The company’s 50 day simple moving average is $162.02 and its 200-day simple moving average is $137.47. The firm has a market cap of $2.04 billion, a PE ratio of -44.66 and a beta of 0.89. Alpha Metallurgical Resources, Inc. has a 12-month low of $97.41 and a 12-month high of $255.04.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings results on Thursday, November 6th. The energy company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.07). Alpha Metallurgical Resources had a negative net margin of 2.09% and a negative return on equity of 2.88%. The business had revenue of $526.78 million during the quarter, compared to analysts’ expectations of $543.77 million. During the same quarter last year, the company earned $0.29 EPS. The firm’s revenue for the quarter was down 21.6% compared to the same quarter last year. As a group, equities research analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMR. Weiss Ratings reissued a “sell (d+)” rating on shares of Alpha Metallurgical Resources in a research report on Thursday, October 30th. Wall Street Zen upgraded shares of Alpha Metallurgical Resources from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. B. Riley dropped their price objective on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a “buy” rating on the stock in a research report on Tuesday, August 5th. Finally, Jefferies Financial Group lifted their price target on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, August 11th. One investment 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $160.50.

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.