JPMorgan Chase & Co. Raises Stock Position in Alpha Metallurgical Resources, Inc. $AMR

JPMorgan Chase & Co. lifted its stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 21.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,732 shares of the energy company’s stock after buying an additional 16,295 shares during the period. JPMorgan Chase & Co. owned approximately 0.70% of Alpha Metallurgical Resources worth $15,052,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMR. State Street Corp boosted its stake in Alpha Metallurgical Resources by 27.2% in the second quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after acquiring an additional 185,281 shares in the last quarter. Dalal Street LLC lifted its holdings in shares of Alpha Metallurgical Resources by 11.0% in the 2nd quarter. Dalal Street LLC now owns 460,327 shares of the energy company’s stock valued at $51,778,000 after purchasing an additional 45,711 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Alpha Metallurgical Resources by 3.4% in the 2nd quarter. American Century Companies Inc. now owns 394,334 shares of the energy company’s stock valued at $44,355,000 after purchasing an additional 12,884 shares during the period. Gendell Jeffrey L grew its stake in 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 last quarter. Finally, Geode Capital Management LLC grew its stake in Alpha Metallurgical Resources by 6.1% during the 2nd quarter. Geode Capital Management LLC now owns 268,609 shares of the energy company’s stock worth $30,219,000 after buying an additional 15,525 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Stock Up 5.6%

AMR stock opened at $174.37 on Wednesday. The stock has a market capitalization of $2.23 billion, a PE ratio of -36.79 and a beta of 0.79. The company has a fifty day moving average of $206.25 and a 200-day moving average of $178.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.53 and a current ratio of 4.47. Alpha Metallurgical Resources, Inc. has a one year low of $97.41 and a one year high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings results on Friday, February 27th. The energy company reported ($1.34) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.34). The firm had revenue of $520.47 million during the quarter, compared to analysts’ expectations 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 for the quarter was down 15.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) earnings per share. As a group, analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Insider Transactions at Alpha Metallurgical Resources

In other news, insider Daniel E. Horn sold 8,125 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $188.32, for a total value of $1,530,100.00. Following the completion of the sale, the insider directly owned 4,989 shares of the company’s stock, valued at $939,528.48. This trade represents a 61.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Gorzynski acquired 38,576 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were acquired at an average cost of $188.50 per share, for a total transaction of $7,271,576.00. Following the acquisition, the director directly owned 644,025 shares of the company’s stock, valued at $121,398,712.50. This trade represents a 6.37% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 98,576 shares of company stock valued at $17,994,174. Corporate insiders own 16.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AMR. B. Riley Financial cut Alpha Metallurgical Resources from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $204.00 to $203.00 in a research note on Wednesday, February 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Monday, December 29th. Benchmark reiterated a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Monday. Jefferies Financial Group reissued a “hold” rating and set a $185.00 price objective on shares of Alpha Metallurgical Resources in a research report on Monday. Finally, Zacks Research lowered shares of Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 5th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $194.00.

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.