Ballast Asset Management LP Purchases 3,449 Shares of Alpha Metallurgical Resources, Inc. $AMR

Ballast Asset Management LP raised its position in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 119.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,338 shares of the energy company’s stock after acquiring an additional 3,449 shares during the quarter. Ballast Asset Management LP’s holdings in Alpha Metallurgical Resources were worth $1,040,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its position in Alpha Metallurgical Resources by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,256 shares of the energy company’s stock valued at $704,000 after buying an additional 76 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Alpha Metallurgical Resources by 26.5% during the 3rd quarter. GAMMA Investing LLC now owns 391 shares of the energy company’s stock valued at $64,000 after purchasing an additional 82 shares during the last quarter. Farther Finance Advisors LLC grew its position in Alpha Metallurgical Resources by 48.9% during the third quarter. Farther Finance Advisors LLC now owns 265 shares of the energy company’s stock valued at $43,000 after buying an additional 87 shares during the period. Amalgamated Bank boosted its stake in Alpha Metallurgical Resources by 3.5% in the third quarter. Amalgamated Bank now owns 3,233 shares of the energy company’s stock valued at $531,000 after acquiring an additional 108 shares during the last quarter. Finally, Yousif Capital Management LLC raised its holdings in shares of Alpha Metallurgical Resources by 2.9% in the 2nd quarter. Yousif Capital Management LLC now owns 4,429 shares of the energy company’s stock worth $498,000 after purchasing an additional 126 shares during the period. 84.29% of the stock is owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Stock Performance

Shares of Alpha Metallurgical Resources stock opened at $209.89 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 capitalization of $2.70 billion, a PE ratio of -58.96 and a beta of 0.78. The company has a 50-day simple moving average of $203.89 and a two-hundred day simple moving average of $170.40.

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

Analyst Ratings Changes

AMR has been the topic of a number of recent research reports. Texas Capital cut Alpha Metallurgical Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group lifted their price target on Alpha Metallurgical Resources from $165.00 to $205.00 and gave the company a “hold” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Alpha Metallurgical Resources in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $188.00.

Insider Activity at Alpha Metallurgical Resources

In related 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 transaction 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 approximately $939,528.48. This trade represents a 61.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth S. Courtis acquired 9,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were bought at an average price of $188.16 per share, with a total value of $1,693,440.00. Following the acquisition, the director directly owned 816,537 shares in the company, valued at $153,639,601.92. This represents a 1.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 98,576 shares of company stock worth $17,994,174. Company insiders own 16.00% of the company’s stock.

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.