Barclays PLC Increases Stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Barclays PLC grew its holdings in Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 309.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,646 shares of the energy company’s stock after buying an additional 14,089 shares during the period. Barclays PLC owned 0.14% of Alpha Metallurgical Resources worth $4,402,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Federated Hermes Inc. purchased a new stake in Alpha Metallurgical Resources during the 2nd quarter valued at about $25,000. GAMMA Investing LLC grew its position in shares of Alpha Metallurgical Resources by 124.6% in the third quarter. GAMMA Investing LLC now owns 137 shares of the energy company’s stock valued at $32,000 after purchasing an additional 76 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Alpha Metallurgical Resources in the third quarter valued at approximately $36,000. Sound Income Strategies LLC acquired a new stake in shares of Alpha Metallurgical Resources in the third quarter valued at approximately $40,000. Finally, Quest Partners LLC acquired a new position in Alpha Metallurgical Resources during the third quarter worth $116,000. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMR has been the subject of a number of recent research reports. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Monday, November 4th. B. Riley reduced their target price on shares of Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating on the stock in a research note on Friday, September 6th.

Alpha Metallurgical Resources Stock Performance

Shares of Alpha Metallurgical Resources stock opened at $201.26 on Friday. The stock has a 50 day moving average of $226.66 and a 200 day moving average of $248.82. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 7.39 and a beta of 1.46. Alpha Metallurgical Resources, Inc. has a fifty-two week low of $185.00 and a fifty-two week high of $452.00.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings results on Friday, November 1st. The energy company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($1.31). The business had revenue of $671.90 million for the quarter, compared to analysts’ expectations of $672.95 million. Alpha Metallurgical Resources had a return on equity of 22.65% and a net margin of 11.08%. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.65 earnings per share. Analysts forecast that Alpha Metallurgical Resources, Inc. will post 16.87 EPS for the current year.

Insider Buying and Selling at Alpha Metallurgical Resources

In other news, Director Kenneth S. Courtis sold 10,621 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $228.73, for a total transaction of $2,429,341.33. Following the completion of the transaction, the director now directly owns 603,342 shares in the company, valued at $138,002,415.66. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 15.00% of the company’s stock.

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.