What smart money is saying about Alpha Metallurgical Resources
AMR
No fund has written a full thesis on Alpha Metallurgical Resources in our archive, but 2 fund letters report a position in it — most recently Acatis in September 2026.
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2
Reported positions
0
Bought
1
Sold
2
Letters
Position history
Between Q2 2026 and Q3 2026, 2 fund letters reported a position in Alpha Metallurgical Resources — 1 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 1 | 0 |
| Q2 2026 | 1 | 0 | 0 | 0 |
Fund activity · 2 positions · 1 move
- TrimmedAcatisSeptember 2026
“Making money with Alpha Metallurgical Resources Ulrich Rathmann is the manager of the balanced fund ACATIS Value Performer In principle, Alpha Metallurgical Resources (AMR) is a problem case: a highly cyclical US producer of bituminous coal for the steel industry that was still losing money. But the Trump administration has changed that. It supports the domestic heavy industry and the mining sector. In addition, global coal prices are on the way up. The AMR share price also jumped just after we entered the fray. The calculation seems simple. Mining costs are USD 103 - 107 per tonne, the market price for domestic coal is USD 135, while export coal can fetch higher prices in the global market. A cost reduction program at AMR increases the leverage. However, approximately 70 percent of this year‘s production volume has already been sold in advance for USD 128 per tonne, on average. This means that the price jump will primarily be reflected in next year‘s income statement. AMR can easily hold on until then. A very healthy balance sheet includes USD 307.6 million in cash, USD 448 million in total liquidity and only USD 11.4 million in long-term debt. Management has already bought back around seven million own shares at an average price of USD 166. Then there is the new Kingston Wildcat mine in West Virginia. It delivers low-volatile bituminous coal - a premium product in the global market, because it makes the smelting process in blast furnaces especially efficient. 500,000 tonnes are planned for this year, with plans to gradually double production. AMR is not a stock for perpetuity. Since the share price jumped from USD 140 to over USD 230 in August alone, we have already sold a third of the position.”
Alpha Metallurgical Resources - HoldsTowle Value StrategyJune 2026
“Below are the largest contributors and detractors to quarterly performance (as measured by contribution to return): Company Contribution % Company Contribution % 1. Methode Electronics (MEI) 3.88% 1. Alpha Met. (AMR) -0.57%”
Alpha Metallurgical Resources
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