Russell Investments Group Ltd. increased its stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR – Free Report) by 15.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,549 shares of the energy company’s stock after purchasing an additional 757 shares during the quarter. Russell Investments Group Ltd.’s holdings in Alpha Metallurgical Resources were worth $1,838,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in shares of Alpha Metallurgical Resources during the 4th quarter worth about $33,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at approximately $34,000. Quadrant Capital Group LLC acquired a new stake in Alpha Metallurgical Resources during the fourth quarter worth approximately $35,000. Creekmur Asset Management LLC purchased a new stake in Alpha Metallurgical Resources in the 4th quarter worth approximately $36,000. Finally, PNC Financial Services Group Inc. grew its stake in Alpha Metallurgical Resources by 947.1% in the 4th 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 during the period. Institutional investors and hedge funds own 84.29% of the company’s stock.
Alpha Metallurgical Resources Stock Up 1.6 %
NYSE:AMR opened at $300.71 on Friday. The company has a market cap of $3.91 billion, a P/E ratio of 7.28 and a beta of 1.36. The firm’s 50 day moving average is $304.11 and its two-hundred day moving average is $332.95. Alpha Metallurgical Resources, Inc. has a fifty-two week low of $164.55 and a fifty-two week high of $452.00.
Alpha Metallurgical Resources (NYSE:AMR – Get Free Report) last issued its earnings results on Monday, May 6th. The energy company reported $9.59 earnings per share for the quarter, missing the consensus estimate of $9.61 by ($0.02). Alpha Metallurgical Resources had a return on equity of 36.77% and a net margin of 16.89%. The firm had revenue of $864.07 million during the quarter, compared to analysts’ expectations of $845.35 million. During the same period last year, the business posted $17.01 earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. Research analysts forecast that Alpha Metallurgical Resources, Inc. will post 28.83 earnings per share for the current fiscal year.
Insider Activity
In related news, CAO Roger Lee Nicholson sold 3,593 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $290.16, for a total transaction of $1,042,544.88. Following the completion of the sale, the chief accounting officer now owns 6,127 shares of the company’s stock, valued at approximately $1,777,810.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 15.00% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on AMR shares. B. Riley raised their price objective on Alpha Metallurgical Resources from $374.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Tuesday, May 7th.
Check Out Our Latest Analysis on Alpha Metallurgical Resources
Alpha Metallurgical Resources Company Profile
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.
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