Hi Line Capital Management LLC Takes Position in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Hi Line Capital Management LLC purchased a new stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 12,957 shares of the energy company’s stock, valued at approximately $3,060,000. Alpha Metallurgical Resources comprises approximately 1.5% of Hi Line Capital Management LLC’s investment portfolio, making the stock its 20th largest position. Hi Line Capital Management LLC owned approximately 0.10% of Alpha Metallurgical Resources as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of AMR. Federated Hermes Inc. acquired a new position in Alpha Metallurgical Resources during the 2nd quarter worth about $25,000. GAMMA Investing LLC lifted its stake in Alpha Metallurgical Resources by 124.6% during the 3rd quarter. GAMMA Investing LLC now owns 137 shares of the energy company’s stock worth $32,000 after acquiring an additional 76 shares in the last quarter. Sound Income Strategies LLC acquired a new position in Alpha Metallurgical Resources during the 3rd quarter worth about $40,000. PNC Financial Services Group Inc. lifted its stake in Alpha Metallurgical Resources by 947.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 178 shares of the energy company’s stock worth $60,000 after acquiring an additional 161 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Alpha Metallurgical Resources during the 1st quarter worth about $88,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AMR. B. Riley decreased their target price on 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. Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Wednesday, October 16th.

Alpha Metallurgical Resources Price Performance

Shares of NYSE AMR opened at $208.41 on Friday. The stock’s 50-day moving average is $217.15 and its two-hundred day moving average is $269.55. Alpha Metallurgical Resources, Inc. has a 1-year low of $185.00 and a 1-year high of $452.00. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 6.20 and a beta of 1.30.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Friday, November 1st. The energy company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($1.31). Alpha Metallurgical Resources had a return on equity of 28.63% and a net margin of 13.52%. The company had revenue of $671.90 million for the quarter, compared to analysts’ expectations of $672.95 million. During the same quarter last year, the company earned $6.65 EPS. Alpha Metallurgical Resources’s revenue for the quarter was down 9.4% compared to the same quarter last year. Equities research analysts anticipate that Alpha Metallurgical Resources, Inc. will post 17.89 earnings per share 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.