Richmond Hill Investments LLC Purchases Shares of 393,096 Alpha Metallurgical Resources, Inc. (NASDAQ:AMR)

Richmond Hill Investments LLC purchased a new stake in Alpha Metallurgical Resources, Inc. (NASDAQ:AMR) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 393,096 shares of the company’s stock, valued at approximately $4,965,000. Alpha Metallurgical Resources comprises about 2.6% of Richmond Hill Investments LLC’s investment portfolio, making the stock its 6th largest position.

Several other hedge funds have also recently bought and sold shares of AMR. BlackRock Inc. acquired a new stake in shares of Alpha Metallurgical Resources in the first quarter valued at approximately $19,253,000. Davidson Kempner Capital Management LP acquired a new stake in shares of Alpha Metallurgical Resources in the first quarter valued at approximately $18,265,000. Alta Fundamental Advisers LLC acquired a new stake in shares of Alpha Metallurgical Resources in the first quarter valued at approximately $13,327,000. Highbridge Capital Management LLC acquired a new stake in shares of Alpha Metallurgical Resources in the first quarter valued at approximately $11,051,000. Finally, Morgan Stanley acquired a new stake in shares of Alpha Metallurgical Resources in the first quarter valued at approximately $10,997,000. 68.22% of the stock is owned by institutional investors and hedge funds.

In other Alpha Metallurgical Resources news, CEO David J. Stetson bought 5,000 shares of Alpha Metallurgical Resources stock in a transaction on Wednesday, May 12th. The stock was bought at an average price of $14.52 per share, with a total value of $72,600.00. Following the completion of the acquisition, the chief executive officer now owns 250,365 shares in the company, valued at $3,635,299.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.10% of the stock is currently owned by company insiders.

Shares of NASDAQ AMR traded down $0.29 during mid-day trading on Thursday, hitting $23.70. 2,072 shares of the company were exchanged, compared to its average volume of 170,657. The company has a debt-to-equity ratio of 3.37, a current ratio of 1.81 and a quick ratio of 1.44. The business’s 50 day moving average is $21.31. Alpha Metallurgical Resources, Inc. has a 1-year low of $3.08 and a 1-year high of $26.93.

Alpha Metallurgical Resources (NASDAQ:AMR) last issued its quarterly earnings results on Sunday, May 9th. The company reported ($1.79) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.06) by $0.27. Alpha Metallurgical Resources had a negative return on equity of 75.00% and a negative net margin of 28.90%. The firm had revenue of $386.25 million during the quarter. Analysts anticipate that Alpha Metallurgical Resources, Inc. will post 0.21 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on the company. B. Riley increased their price objective on Alpha Metallurgical Resources from $15.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, July 14th. Zacks Investment Research raised Alpha Metallurgical Resources from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Friday, July 16th.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc operates as a mining company. It produces, processes, and sells met coal and thermal coal in Virginia and West Virginia. It operates through two segments, Met and CAPP-Thermal. The Met segments operates five active mines and two preparation plants in Virginia; and seventeen active mines and five preparation plants in West Virginia.

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Institutional Ownership by Quarter for Alpha Metallurgical Resources (NASDAQ:AMR)

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