Algert Global LLC Decreases Position in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Algert Global LLC reduced its position in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 15.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,544 shares of the energy company’s stock after selling 640 shares during the period. Algert Global LLC’s holdings in Alpha Metallurgical Resources were worth $837,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AMR. Federated Hermes Inc. purchased a new stake in shares of Alpha Metallurgical Resources during the second quarter worth approximately $25,000. GAMMA Investing LLC boosted its stake in Alpha Metallurgical Resources by 124.6% during the 3rd quarter. GAMMA Investing LLC now owns 137 shares of the energy company’s stock worth $32,000 after purchasing an additional 76 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Alpha Metallurgical Resources in the third quarter valued at about $36,000. Sound Income Strategies LLC purchased a new position in shares of Alpha Metallurgical Resources in the third quarter worth about $40,000. Finally, Quest Partners LLC acquired a new position in Alpha Metallurgical Resources during the third quarter worth about $116,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

Alpha Metallurgical Resources Trading Down 2.0 %

Shares of AMR stock opened at $245.57 on Friday. Alpha Metallurgical Resources, Inc. has a twelve month low of $185.00 and a twelve month high of $452.00. The company’s 50-day moving average price is $227.53 and its 200-day moving average price is $257.30. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 9.01 and a beta of 1.33.

Alpha Metallurgical Resources (NYSE:AMR) last posted its earnings results on Friday, November 1st. The energy company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($1.31). The firm had revenue of $671.90 million during the quarter, compared to analyst estimates of $672.95 million. Alpha Metallurgical Resources had a net margin of 11.08% and a return on equity of 22.65%. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.65 earnings per share. As a group, equities research analysts predict that Alpha Metallurgical Resources, Inc. will post 16.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Benchmark reiterated a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday, November 4th. B. Riley cut their price target on Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating for the company in a report on Friday, September 6th.

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.