State Street Corp Decreases Stock Position in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

State Street Corp cut its holdings in Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 695,083 shares of the energy company’s stock after selling 26,617 shares during the period. State Street Corp owned about 5.34% of Alpha Metallurgical Resources worth $164,165,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Point72 DIFC Ltd purchased a new stake in shares of Alpha Metallurgical Resources in the 3rd quarter worth about $128,000. HighTower Advisors LLC purchased a new stake in shares of Alpha Metallurgical Resources in the 3rd quarter worth about $640,000. Centiva Capital LP lifted its holdings in Alpha Metallurgical Resources by 32.6% in the 3rd quarter. Centiva Capital LP now owns 6,969 shares of the energy company’s stock valued at $1,646,000 after purchasing an additional 1,715 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Alpha Metallurgical Resources in the 3rd quarter valued at about $157,000. Finally, Freedom Investment Management Inc. lifted its holdings in Alpha Metallurgical Resources by 15.9% in the 3rd quarter. Freedom Investment Management Inc. now owns 2,182 shares of the energy company’s stock valued at $515,000 after purchasing an additional 299 shares in the last quarter. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Price Performance

NYSE AMR opened at $228.41 on Friday. Alpha Metallurgical Resources, Inc. has a 12 month low of $185.00 and a 12 month high of $452.00. The company has a 50-day moving average of $228.45 and a 200-day moving average of $253.41. The company has a market cap of $2.97 billion, a P/E ratio of 8.39 and a beta of 1.46.

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

Analyst Upgrades and Downgrades

AMR has been the topic of a number of recent research reports. Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday, November 4th. B. Riley reduced their target price on shares of Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating on the stock 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.