Allianz Asset Management GmbH Sells 10,032 Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Key Points

• Allianz Asset Management GmbH significantly reduced its stake in Alpha Metallurgical Resources, selling 10,032 shares and holding only 1,900 shares after the sale, which is an 84.1% decrease.
• Despite Allianz's sale, other institutional investors have increased their stakes in Alpha Metallurgical Resources, with Signaturefd LLC growing by 306.1% and CWM LLC by 1,205.1% in the first quarter.
• Analysts have mixed views on Alpha Metallurgical Resources with Wall Street Zen downgrading the stock from "hold" to "sell," while B. Riley lowered its price target but maintained a "buy" rating.

Allianz Asset Management GmbH decreased its stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 84.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,900 shares of the energy company's stock after selling 10,032 shares during the quarter. Allianz Asset Management GmbH's holdings in Alpha Metallurgical Resources were worth $238,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC grew its stake in Alpha Metallurgical Resources by 306.1% during the 1st quarter. Signaturefd LLC now owns 199 shares of the energy company's stock valued at $25,000 after acquiring an additional 150 shares in the last quarter. AdvisorNet Financial Inc raised its position in Alpha Metallurgical Resources by 214.3% during the first quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company's stock valued at $28,000 after purchasing an additional 150 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Alpha Metallurgical Resources in the 4th quarter valued at about $60,000. Opal Wealth Advisors LLC acquired a new position in shares of Alpha Metallurgical Resources during the 1st quarter valued at $64,000. Finally, CWM LLC grew its stake in Alpha Metallurgical Resources by 1,205.1% in the 1st quarter. CWM LLC now owns 509 shares of the energy company's stock valued at $64,000 after buying an additional 470 shares in the last quarter. Hedge funds and other institutional investors own 84.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Jefferies Financial Group started coverage on Alpha Metallurgical Resources in a research report on Tuesday, July 1st. They set a "hold" rating and a $110.00 price objective for the company. B. Riley lowered their target price on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Wall Street Zen cut shares of Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Alpha Metallurgical Resources Stock Up 3.7%

Shares of NYSE:AMR traded up $4.51 during trading on Thursday, reaching $127.78. 194,236 shares of the company's stock traded hands, compared to its average volume of 319,418. Alpha Metallurgical Resources, Inc. has a fifty-two week low of $97.41 and a fifty-two week high of $259.20. The firm has a market cap of $1.67 billion, a PE ratio of 62.99 and a beta of 0.59. The company has a 50-day simple moving average of $116.05 and a 200-day simple moving average of $131.90.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last issued its earnings results on Friday, May 9th. The energy company reported ($2.60) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($1.54). Alpha Metallurgical Resources had a net margin of 1.01% and a return on equity of 1.62%. The firm had revenue of $531.96 million during the quarter, compared to analysts' expectations of $586.15 million. During the same period in the previous year, the firm earned $9.59 EPS. The firm's revenue was down 38.4% on a year-over-year basis. On average, equities research analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

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.