Cannell & Spears LLC Buys Shares of 33,348 Alpha Metallurgical Resources, Inc. $AMR

Cannell & Spears LLC purchased a new position in Alpha Metallurgical Resources, Inc. (NYSE:AMR) during the 3rd quarter, HoldingsChannel reports. The firm purchased 33,348 shares of the energy company’s stock, valued at approximately $5,472,000.

A number of other large investors also recently modified their holdings of AMR. Bank of America Corp DE grew its stake in shares of Alpha Metallurgical Resources by 20.8% in the third quarter. Bank of America Corp DE now owns 96,392 shares of the energy company’s stock worth $15,817,000 after acquiring an additional 16,620 shares during the last quarter. Algert Global LLC acquired a new position in Alpha Metallurgical Resources during the 3rd quarter valued at $1,154,000. Creative Planning boosted its holdings in Alpha Metallurgical Resources by 50.1% in the 3rd quarter. Creative Planning now owns 5,202 shares of the energy company’s stock valued at $854,000 after purchasing an additional 1,737 shares during the period. Virtu Financial LLC bought a new stake in Alpha Metallurgical Resources in the 3rd quarter valued at $1,220,000. Finally, Brooklyn Investment Group grew its position in Alpha Metallurgical Resources by 2,140.1% in the 3rd quarter. Brooklyn Investment Group now owns 5,421 shares of the energy company’s stock worth $890,000 after purchasing an additional 5,179 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Trading Down 0.9%

Shares of AMR stock opened at $187.84 on Monday. Alpha Metallurgical Resources, Inc. has a 52-week low of $97.41 and a 52-week high of $253.82. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -39.63 and a beta of 0.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.53 and a current ratio of 4.47. The firm has a fifty day moving average of $202.47 and a 200-day moving average of $180.44.

Alpha Metallurgical Resources (NYSE:AMR) last issued its earnings results on Friday, February 27th. The energy company reported ($1.34) earnings per share for the quarter, meeting the consensus estimate of ($1.34). The business had revenue of $436.33 million for the quarter, compared to analyst estimates of $538.45 million. Alpha Metallurgical Resources had a negative net margin of 2.90% and a negative return on equity of 3.88%. The firm’s revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.16) EPS. On average, equities research analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kenneth S. Courtis bought 25,000 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was acquired at an average cost of $176.23 per share, with a total value of $4,405,750.00. Following the acquisition, the director owned 841,537 shares in the company, valued at approximately $148,304,065.51. This represents a 3.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Joshua Todd Munsey sold 2,523 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $183.24, for a total value of $462,314.52. Following the transaction, the chief financial officer owned 4,735 shares of the company’s stock, valued at $867,641.40. This trade represents a 34.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders acquired a total of 50,000 shares of company stock worth $9,002,050 over the last quarter. Company insiders own 16.00% of the company’s stock.

Wall Street Analyst Weigh In

AMR has been the topic of several research reports. Texas Capital downgraded shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Zacks Research downgraded Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 5th. B. Riley Financial boosted their price target on Alpha Metallurgical Resources from $203.00 to $207.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday, March 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research report on Monday, December 29th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $196.00.

Alpha Metallurgical Resources Company 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.