Gallacher Capital Management LLC Makes New $374,000 Investment in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Gallacher Capital Management LLC acquired a new position in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,129 shares of the energy company’s stock, valued at approximately $374,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new position in shares of Alpha Metallurgical Resources in the fourth quarter valued at approximately $33,000. Wetzel Investment Advisors Inc. bought a new position in Alpha Metallurgical Resources during the fourth quarter valued at $34,000. Quadrant Capital Group LLC bought a new position in Alpha Metallurgical Resources during the fourth quarter valued at $35,000. Creekmur Asset Management LLC bought a new position in Alpha Metallurgical Resources during the fourth quarter valued at $36,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Alpha Metallurgical Resources by 947.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 178 shares of the energy company’s stock worth $60,000 after acquiring an additional 161 shares in the last quarter. 84.29% of the stock is owned by institutional investors.

Alpha Metallurgical Resources Trading Up 1.6 %

Shares of NYSE:AMR traded up $4.98 on Friday, reaching $313.80. 31,166 shares of the company traded hands, compared to its average volume of 224,398. The business’s 50-day simple moving average is $301.52 and its 200 day simple moving average is $336.41. Alpha Metallurgical Resources, Inc. has a 52 week low of $151.24 and a 52 week high of $452.00. The stock has a market capitalization of $4.08 billion, a P/E ratio of 7.48 and a beta of 1.36.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings data on Monday, May 6th. The energy company reported $9.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.61 by ($0.02). Alpha Metallurgical Resources had a net margin of 16.89% and a return on equity of 36.77%. The company had revenue of $864.07 million for the quarter, compared to the consensus estimate of $845.35 million. During the same period last year, the business posted $17.01 earnings per share. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. Sell-side analysts expect that Alpha Metallurgical Resources, Inc. will post 28.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMR. Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Tuesday, May 7th. B. Riley increased their price objective on Alpha Metallurgical Resources from $374.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th.

Insider Activity

In other news, CAO Roger Lee Nicholson sold 3,593 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $290.16, for a total transaction of $1,042,544.88. Following the transaction, the chief accounting officer now directly owns 6,127 shares of the company’s stock, valued at $1,777,810.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 15.00% of the company’s stock.

About Alpha Metallurgical Resources

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.