Bank of America Corp DE Sells 9,308 Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Bank of America Corp DE decreased its position in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 50.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,207 shares of the energy company's stock after selling 9,308 shares during the quarter. Bank of America Corp DE owned approximately 0.07% of Alpha Metallurgical Resources worth $1,843,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new position in shares of Alpha Metallurgical Resources during the 4th quarter valued at $1,862,000. Algert Global LLC increased its holdings in Alpha Metallurgical Resources by 157.6% in the 4th quarter. Algert Global LLC now owns 9,128 shares of the energy company's stock valued at $1,827,000 after acquiring an additional 5,584 shares during the last quarter. PDT Partners LLC bought a new stake in Alpha Metallurgical Resources in the 4th quarter valued at $1,024,000. Northern Trust Corp increased its holdings in Alpha Metallurgical Resources by 6.0% in the 4th quarter. Northern Trust Corp now owns 121,652 shares of the energy company's stock valued at $24,345,000 after acquiring an additional 6,905 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Alpha Metallurgical Resources in the 4th quarter valued at $2,528,000. Hedge funds and other institutional investors own 84.29% of the company's stock.

Alpha Metallurgical Resources Stock Up 2.8%

NYSE AMR traded up $3.03 on Friday, reaching $110.67. The company had a trading volume of 218,473 shares, compared to its average volume of 242,343. The stock has a market capitalization of $1.44 billion, a PE ratio of 4.06 and a beta of 0.72. The firm's 50 day moving average price is $119.11 and its 200 day moving average price is $161.09. Alpha Metallurgical Resources, Inc. has a 12 month low of $100.00 and a 12 month high of $334.72.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted 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). Alpha Metallurgical Resources had a return on equity of 22.65% and a net margin of 11.08%. The business had revenue of $531.96 million during the quarter, compared to the consensus estimate of $586.15 million. During the same quarter last year, the firm earned $9.59 earnings per share. The business's quarterly revenue was down 38.4% on a year-over-year basis. On average, research analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AMR shares. Wall Street Zen downgraded shares of Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. B. Riley reduced their price target 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 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.