Alpha Metallurgical Resources, Inc. (NYSE:AMR) Stock Position Raised by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 2.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,592 shares of the energy company’s stock after purchasing an additional 1,234 shares during the period. Principal Financial Group Inc. owned approximately 0.42% of Alpha Metallurgical Resources worth $6,838,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Mutual Advisors LLC acquired a new position in Alpha Metallurgical Resources during the first quarter worth $603,000. Hi Line Capital Management LLC raised its stake in shares of Alpha Metallurgical Resources by 2.1% in the first quarter. Hi Line Capital Management LLC now owns 11,551 shares of the energy company’s stock valued at $1,447,000 after acquiring an additional 242 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Alpha Metallurgical Resources by 10.1% in the first quarter. Exchange Traded Concepts LLC now owns 9,883 shares of the energy company’s stock valued at $1,238,000 after acquiring an additional 909 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Alpha Metallurgical Resources in the first quarter valued at approximately $64,000. Finally, SG Americas Securities LLC increased its holdings in shares of Alpha Metallurgical Resources by 204.5% in the first quarter. SG Americas Securities LLC now owns 8,376 shares of the energy company’s stock valued at $1,049,000 after purchasing an additional 5,625 shares in the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AMR shares. Jefferies Financial Group began coverage on shares of Alpha Metallurgical Resources in a report on Tuesday, July 1st. They set a “hold” rating and a $110.00 target price for the company. Wall Street Zen cut shares of Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Finally, B. Riley dropped their target price on shares of Alpha Metallurgical Resources from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Thursday, May 15th.

Alpha Metallurgical Resources Stock Performance

AMR opened at $115.59 on Wednesday. Alpha Metallurgical Resources, Inc. has a fifty-two week low of $97.41 and a fifty-two week high of $323.58. The company has a market capitalization of $1.51 billion, a P/E ratio of 57.22 and a beta of 0.66. The stock has a fifty day moving average of $114.44 and a 200-day moving average of $138.94.

Alpha Metallurgical Resources (NYSE:AMR) last released its earnings results on Friday, May 9th. The energy company reported ($2.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($1.54). The company had revenue of $531.96 million for the quarter, compared to the consensus estimate of $586.15 million. Alpha Metallurgical Resources had a net margin of 1.01% and a return on equity of 1.62%. The business’s revenue was down 38.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.59 earnings per share. On average, equities research analysts predict that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

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.