Hsbc Holdings PLC Sells 9,205 Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Hsbc Holdings PLC lessened its stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 86.7% during the second quarter, HoldingsChannel reports. The firm owned 1,418 shares of the energy company’s stock after selling 9,205 shares during the period. Hsbc Holdings PLC’s holdings in Alpha Metallurgical Resources were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of AMR. Federated Hermes Inc. purchased a new stake in Alpha Metallurgical Resources in the second quarter valued at approximately $25,000. Creekmur Asset Management LLC purchased a new position in Alpha Metallurgical Resources in the fourth quarter worth $36,000. PNC Financial Services Group Inc. increased its stake in Alpha Metallurgical Resources by 947.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 178 shares of the energy company’s stock valued at $60,000 after acquiring an additional 161 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Alpha Metallurgical Resources during the first quarter valued at about $88,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Alpha Metallurgical Resources in the 2nd quarter worth about $142,000. Institutional investors own 84.29% of the company’s stock.

Alpha Metallurgical Resources Price Performance

Shares of Alpha Metallurgical Resources stock opened at $227.21 on Thursday. Alpha Metallurgical Resources, Inc. has a one year low of $185.00 and a one year high of $452.00. The business’s 50 day simple moving average is $235.03 and its two-hundred day simple moving average is $284.47. The stock has a market capitalization of $2.96 billion, a P/E ratio of 5.50 and a beta of 1.30.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings data on Monday, August 5th. The energy company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.03. Alpha Metallurgical Resources had a return on equity of 28.63% and a net margin of 13.52%. The firm had revenue of $804.00 million during the quarter, compared to the consensus estimate of $733.05 million. During the same quarter in the previous year, the company posted $12.16 earnings per share. The business’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts expect that Alpha Metallurgical Resources, Inc. will post 20.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AMR has been the subject of a number of research reports. B. Riley cut their price objective on shares of Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Tuesday, August 6th.

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.