Maryland State Retirement & Pension System Takes Position in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Maryland State Retirement & Pension System acquired a new position in Alpha Metallurgical Resources, Inc. (NYSE:AMR) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,297 shares of the energy company’s stock, valued at approximately $1,456,000.

A number of other hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in shares of Alpha Metallurgical Resources during the 4th quarter valued at $2,465,000. Illinois Municipal Retirement Fund purchased a new position in shares of Alpha Metallurgical Resources during the 4th quarter valued at about $2,302,000. Raymond James & Associates grew its stake in shares of Alpha Metallurgical Resources by 203.8% during the 3rd quarter. Raymond James & Associates now owns 9,546 shares of the energy company’s stock valued at $2,479,000 after acquiring an additional 6,404 shares during the period. Invesco Ltd. increased its holdings in Alpha Metallurgical Resources by 180.9% in the 3rd quarter. Invesco Ltd. now owns 115,816 shares of the energy company’s stock worth $30,081,000 after acquiring an additional 74,583 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in Alpha Metallurgical Resources in the 4th quarter worth approximately $2,000,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Insider Buying and Selling

In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis sold 22,802 shares of Alpha Metallurgical Resources stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $302.81, for a total value of $6,904,673.62. Following the sale, the director now directly owns 638,234 shares in the company, valued at approximately $193,263,637.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director David J. Stetson sold 30,694 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $392.30, for a total transaction of $12,041,256.20. Following the sale, the director now directly owns 26,054 shares of the company’s stock, valued at approximately $10,220,984.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth S. Courtis sold 22,802 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $302.81, for a total transaction of $6,904,673.62. Following the completion of the transaction, the director now directly owns 638,234 shares of the company’s stock, valued at $193,263,637.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 153,971 shares of company stock worth $55,479,986. 16.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AMR shares. B. Riley upped their price target on shares of Alpha Metallurgical Resources from $374.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday. Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Tuesday.

Alpha Metallurgical Resources Stock Down 1.3 %

NYSE AMR opened at $300.49 on Thursday. The business has a 50-day moving average price of $330.80 and a 200-day moving average price of $325.23. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 6.17 and a beta of 1.38. Alpha Metallurgical Resources, Inc. has a twelve month low of $132.72 and a twelve month high of $452.00.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings results on Monday, May 6th. The energy company reported $9.59 earnings per share for the quarter, missing the consensus estimate of $9.61 by ($0.02). The business had revenue of $864.07 million during the quarter, compared to the consensus estimate of $845.35 million. Alpha Metallurgical Resources had a return on equity of 46.22% and a net margin of 20.80%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $17.01 earnings per share. Research analysts expect that Alpha Metallurgical Resources, Inc. will post 29.82 EPS for the current fiscal year.

Alpha Metallurgical Resources Company 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.