Alpha Metallurgical Resources, Inc. (NYSE:AMR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 79,058 shares of the energy company's stock after selling 3,253 shares during the period. Bank of New York Mellon Corp owned 0.61% of Alpha Metallurgical Resources worth $9,902,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Goehring & Rozencwajg Associates LLC raised its holdings in Alpha Metallurgical Resources by 2.6% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 73,689 shares of the energy company's stock valued at $9,212,000 after acquiring an additional 1,889 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Alpha Metallurgical Resources by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 54,592 shares of the energy company's stock worth $6,838,000 after purchasing an additional 1,234 shares during the period. Mutual Advisors LLC purchased a new position in shares of Alpha Metallurgical Resources during the 1st quarter worth approximately $603,000. Hi Line Capital Management LLC boosted its position in Alpha Metallurgical Resources by 2.1% in the 1st quarter. Hi Line Capital Management LLC now owns 11,551 shares of the energy company's stock valued at $1,447,000 after buying an additional 242 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in Alpha Metallurgical Resources by 10.1% in the 1st quarter. Exchange Traded Concepts LLC now owns 9,883 shares of the energy company's stock valued at $1,238,000 after buying an additional 909 shares during the period. Institutional investors and hedge funds own 84.29% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Jefferies Financial Group assumed coverage on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 1st. They set a "hold" rating and a $110.00 price target on the stock. Finally, B. Riley dropped their price objective on shares of Alpha Metallurgical Resources from $183.00 to $181.00 and set a "buy" rating on the stock in a research note on Thursday, May 15th.

Alpha Metallurgical Resources Stock Performance

Shares of AMR stock opened at $126.18 on Tuesday. Alpha Metallurgical Resources, Inc. has a one year low of $97.41 and a one year high of $308.88. The company has a 50 day moving average price of $114.56 and a 200 day moving average price of $136.33. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 62.47 and a beta of 0.66.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its quarterly earnings data 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). 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 company earned $9.59 earnings per share. The business's quarterly revenue was down 38.4% on a year-over-year basis. As a group, equities analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 EPS 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.

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