Royce & Associates LP Acquires 3,846 Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Key Points

• Royce & Associates LP increased its stake in Alpha Metallurgical Resources, Inc. by 154.5% during the 1st quarter, owning 6,335 shares worth approximately $793,000 at quarter's end.
• Alpha Metallurgical Resources reported a loss of $2.60 EPS for the most recent quarter, missing analyst expectations, with revenue down 38.4% year-over-year.
• Analysts have set a new price target for the stock, with B. Riley reducing their target from $181.00 to $173.00 and maintaining a "buy" rating.

Royce & Associates LP increased its position in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 154.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,335 shares of the energy company's stock after buying an additional 3,846 shares during the period. Royce & Associates LP's holdings in Alpha Metallurgical Resources were worth $793,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Dalal Street LLC increased its holdings in Alpha Metallurgical Resources by 1.6% in the fourth quarter. Dalal Street LLC now owns 487,251 shares of the energy company's stock worth $97,509,000 after buying an additional 7,553 shares during the last quarter. GAMMA Investing LLC increased its holdings in Alpha Metallurgical Resources by 11,100.3% in the first quarter. GAMMA Investing LLC now owns 34,945 shares of the energy company's stock worth $4,377,000 after buying an additional 34,633 shares during the last quarter. Mutual Advisors LLC acquired a new position in Alpha Metallurgical Resources in the first quarter worth approximately $603,000. Sei Investments Co. increased its holdings in Alpha Metallurgical Resources by 36.8% in the fourth quarter. Sei Investments Co. now owns 10,786 shares of the energy company's stock worth $2,158,000 after buying an additional 2,903 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in 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 worth $1,049,000 after buying an additional 5,625 shares during the last quarter. Institutional investors and hedge funds own 84.29% of the company's stock.

Alpha Metallurgical Resources Trading Down 1.7%

Alpha Metallurgical Resources stock traded down $1.95 during trading hours on Friday, reaching $116.12. 115,870 shares of the company were exchanged, compared to its average volume of 319,984. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 57.30 and a beta of 0.66. The stock has a 50-day moving average of $115.78 and a 200 day moving average of $133.85. Alpha Metallurgical Resources, Inc. has a 12 month low of $97.41 and a 12 month high of $267.63.

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 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 business had revenue of $531.96 million during the quarter, compared to the consensus estimate of $586.15 million. During the same period in the prior year, the company posted $9.59 earnings per share. The firm's revenue was down 38.4% compared to the same quarter last year. As a group, research analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Analyst Upgrades and Downgrades

AMR has been the topic of a number of research reports. Jefferies Financial Group began coverage on Alpha Metallurgical Resources in a report on Tuesday, July 1st. They issued a "hold" rating and a $110.00 price objective on the stock. B. Riley decreased their target price on Alpha Metallurgical Resources from $181.00 to $173.00 and set a "buy" rating for the company in a research report on Tuesday, July 22nd. Finally, Wall Street Zen cut Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

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.