Exchange Traded Concepts LLC Raises Position in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Exchange Traded Concepts LLC grew its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 219.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,755 shares of the energy company’s stock after purchasing an additional 6,016 shares during the period. Exchange Traded Concepts LLC owned approximately 0.07% of Alpha Metallurgical Resources worth $2,068,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in shares of Alpha Metallurgical Resources by 124.6% during the 3rd quarter. GAMMA Investing LLC now owns 137 shares of the energy company’s stock valued at $32,000 after purchasing an additional 76 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Alpha Metallurgical Resources by 298.1% during the 3rd quarter. SG Americas Securities LLC now owns 2,564 shares of the energy company’s stock valued at $606,000 after purchasing an additional 1,920 shares during the last quarter. Invst LLC lifted its holdings in shares of Alpha Metallurgical Resources by 9.2% during the 2nd quarter. Invst LLC now owns 2,287 shares of the energy company’s stock valued at $642,000 after purchasing an additional 193 shares during the last quarter. Creative Planning raised its stake in Alpha Metallurgical Resources by 2.9% in the 2nd quarter. Creative Planning now owns 1,529 shares of the energy company’s stock worth $429,000 after acquiring an additional 43 shares during the last quarter. Finally, Algert Global LLC raised its stake in Alpha Metallurgical Resources by 217.0% in the 2nd quarter. Algert Global LLC now owns 4,184 shares of the energy company’s stock worth $1,174,000 after acquiring an additional 2,864 shares during the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AMR shares. Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Tuesday, August 6th. B. Riley reduced their target price on 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.

Alpha Metallurgical Resources Price Performance

Shares of AMR stock opened at $220.71 on Wednesday. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 5.35 and a beta of 1.30. The business has a fifty day moving average of $225.40 and a 200 day moving average of $278.27. Alpha Metallurgical Resources, Inc. has a 1 year low of $185.00 and a 1 year high of $452.00.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Monday, August 5th. The energy company reported $4.49 earnings per share for the quarter, topping the consensus estimate of $4.46 by $0.03. The company had revenue of $804.00 million for the quarter, compared to the consensus estimate of $733.05 million. Alpha Metallurgical Resources had a return on equity of 28.63% and a net margin of 13.52%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $12.16 EPS. As a group, equities research analysts expect that Alpha Metallurgical Resources, Inc. will post 20.67 earnings per share for the current 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.