Balyasny Asset Management L.P. Trims Stock Position in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Balyasny Asset Management L.P. decreased its holdings in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 65.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,589 shares of the energy company's stock after selling 49,287 shares during the period. Balyasny Asset Management L.P. owned approximately 0.20% of Alpha Metallurgical Resources worth $5,121,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. New Age Alpha Advisors LLC acquired a new stake in shares of Alpha Metallurgical Resources during the 4th quarter worth approximately $40,000. FNY Investment Advisers LLC acquired a new stake in Alpha Metallurgical Resources in the 4th quarter valued at approximately $50,000. PNC Financial Services Group Inc. increased its holdings in Alpha Metallurgical Resources by 127.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 289 shares of the energy company's stock valued at $58,000 after purchasing an additional 162 shares during the last quarter. GAMMA Investing LLC increased its holdings in Alpha Metallurgical Resources by 127.7% in the 4th quarter. GAMMA Investing LLC now owns 312 shares of the energy company's stock valued at $62,000 after purchasing an additional 175 shares during the last quarter. Finally, Jones Financial Companies Lllp acquired a new stake in Alpha Metallurgical Resources in the 4th quarter valued at approximately $82,000. Institutional investors and hedge funds own 84.29% of the company's stock.

Analysts Set New Price Targets

Separately, B. Riley dropped their target price on shares of Alpha Metallurgical Resources from $183.00 to $181.00 and set a "buy" rating for the company in a report on Thursday.

Alpha Metallurgical Resources Stock Performance

Shares of NYSE:AMR traded up $2.61 during trading on Friday, hitting $124.10. The company's stock had a trading volume of 55,874 shares, compared to its average volume of 235,818. The business has a 50 day moving average price of $123.43 and a two-hundred day moving average price of $173.48. The company has a market capitalization of $1.62 billion, a PE ratio of 4.55 and a beta of 0.72. Alpha Metallurgical Resources, Inc. has a fifty-two week low of $100.00 and a fifty-two week high of $334.72.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The energy company reported ($2.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($1.54). The firm had revenue of $531.96 million for the quarter, compared to analysts' expectations of $586.15 million. Alpha Metallurgical Resources had a return on equity of 22.65% and a net margin of 11.08%. Alpha Metallurgical Resources's revenue for the quarter was down 38.4% on a year-over-year basis. During the same period last year, the firm posted $9.59 earnings per share. As a group, equities analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal 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.