Anthracite Investment Company Inc. Trims Stock Position in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Anthracite Investment Company Inc. reduced its stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 40.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,000 shares of the energy company’s stock after selling 4,720 shares during the quarter. Anthracite Investment Company Inc.’s holdings in Alpha Metallurgical Resources were worth $1,653,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMR. Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Monday, November 4th. B. Riley cut their price objective on Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating for the company in a research note on Friday, September 6th.

Alpha Metallurgical Resources Stock Performance

Shares of AMR stock opened at $241.82 on Wednesday. Alpha Metallurgical Resources, Inc. has a fifty-two week low of $185.00 and a fifty-two week high of $452.00. The firm has a market capitalization of $3.15 billion, a P/E ratio of 8.64 and a beta of 1.33. The stock’s fifty day moving average is $219.68 and its two-hundred day moving average is $260.11.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly 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 for 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 company’s revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.65 EPS. On average, equities analysts forecast that Alpha Metallurgical Resources, Inc. will post 16.87 earnings per share for the current year.

Alpha Metallurgical Resources 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.