Cannell & Spears LLC Makes New Investment in Alpha Metallurgical Resources, Inc. $AMR

Cannell & Spears LLC purchased a new position in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 33,348 shares of the energy company’s stock, valued at approximately $5,472,000. Cannell & Spears LLC owned approximately 0.26% of Alpha Metallurgical Resources at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in AMR. State Street Corp grew its stake in shares of Alpha Metallurgical Resources by 27.2% in the 2nd quarter. State Street Corp now owns 865,934 shares of the energy company’s stock valued at $97,400,000 after buying an additional 185,281 shares in the last quarter. Contrarius Group Holdings Ltd acquired a new position in Alpha Metallurgical Resources in the third quarter worth approximately $12,146,000. Dalal Street LLC raised its position in Alpha Metallurgical Resources by 15.6% during the third quarter. Dalal Street LLC now owns 532,000 shares of the energy company’s stock valued at $87,296,000 after acquiring an additional 71,673 shares in the last quarter. Millennium Management LLC raised its position in Alpha Metallurgical Resources by 208.0% during the first quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock valued at $13,290,000 after acquiring an additional 71,653 shares in the last quarter. Finally, Gendell Jeffrey L lifted its stake in Alpha Metallurgical Resources by 30.9% in the second quarter. Gendell Jeffrey L now owns 296,396 shares of the energy company’s stock valued at $33,339,000 after acquiring an additional 69,950 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alpha Metallurgical Resources

In other news, Director Kenneth S. Courtis bought 25,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average price of $176.23 per share, for a total transaction of $4,405,750.00. Following the acquisition, the director directly owned 841,537 shares of the company’s stock, valued at $148,304,065.51. The trade was a 3.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Daniel E. Horn sold 971 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $170.05, for a total transaction of $165,118.55. Following the transaction, the insider directly owned 7,320 shares of the company’s stock, valued at approximately $1,244,766. This represents a 11.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have bought 50,000 shares of company stock worth $9,002,050. 16.00% of the stock is owned by insiders.

Alpha Metallurgical Resources Stock Down 0.9%

Shares of Alpha Metallurgical Resources stock opened at $187.84 on Monday. The stock has a market capitalization of $2.40 billion, a P/E ratio of -39.63 and a beta of 0.79. The company has a quick ratio of 3.53, a current ratio of 4.47 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average price of $202.47 and a two-hundred day moving average price of $180.44. Alpha Metallurgical Resources, Inc. has a 12-month low of $97.41 and a 12-month high of $253.82.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Friday, February 27th. The energy company reported ($1.34) EPS for the quarter, meeting the consensus estimate of ($1.34). Alpha Metallurgical Resources had a negative return on equity of 3.88% and a negative net margin of 2.90%.The company had revenue of $436.33 million for the quarter, compared to the consensus estimate of $538.45 million. During the same quarter last year, the company posted ($0.16) earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. Equities analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on AMR shares. Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Monday, December 29th. Texas Capital lowered shares of Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. B. Riley Financial upped their price objective on shares of Alpha Metallurgical Resources from $203.00 to $207.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $185.00 target price on shares of Alpha Metallurgical Resources in a research report on Monday, March 2nd. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $196.00.

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.