Renaissance Technologies LLC Decreases Stock Position in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Renaissance Technologies LLC lowered its position in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 2.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 527,515 shares of the energy company’s stock after selling 13,200 shares during the period. Renaissance Technologies LLC’s holdings in Alpha Metallurgical Resources were worth $147,984,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AMR. Principal Financial Group Inc. lifted its holdings in Alpha Metallurgical Resources by 523.6% in the 4th quarter. Principal Financial Group Inc. now owns 75,966 shares of the energy company’s stock worth $25,746,000 after buying an additional 63,784 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Alpha Metallurgical Resources by 19.3% during the first quarter. Janus Henderson Group PLC now owns 27,174 shares of the energy company’s stock worth $8,998,000 after buying an additional 4,387 shares in the last quarter. Norges Bank bought a new stake in shares of Alpha Metallurgical Resources in the fourth quarter worth $21,900,000. Wellington Management Group LLP raised its holdings in Alpha Metallurgical Resources by 5.8% in the fourth quarter. Wellington Management Group LLP now owns 50,053 shares of the energy company’s stock valued at $16,964,000 after acquiring an additional 2,754 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new position in Alpha Metallurgical Resources during the 4th quarter valued at $1,051,000. 84.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AMR shares. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a research report 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 on the stock in a report on Friday, September 6th.

Alpha Metallurgical Resources Price Performance

AMR stock opened at $210.71 on Monday. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 5.10 and a beta of 1.30. Alpha Metallurgical Resources, Inc. has a 1-year low of $185.00 and a 1-year high of $452.00. The firm has a fifty day moving average price of $257.82 and a two-hundred day moving average price of $296.13.

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 analysts’ consensus estimates of $4.46 by $0.03. Alpha Metallurgical Resources had a net margin of 13.52% and a return on equity of 28.63%. The business had revenue of $804.00 million during the quarter, compared to the consensus estimate of $733.05 million. During the same quarter in the prior year, the firm earned $12.16 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, analysts expect that Alpha Metallurgical Resources, Inc. will post 20.67 EPS for the current fiscal year.

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.