131,583 Shares in Alpha Metallurgical Resources, Inc. (NYSE:AMR) Purchased by Norges Bank

Norges Bank acquired a new stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 131,583 shares of the energy company's stock, valued at approximately $26,332,000. Norges Bank owned about 1.01% of Alpha Metallurgical Resources at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. American Century Companies Inc. boosted its holdings in Alpha Metallurgical Resources by 9.8% in the fourth quarter. American Century Companies Inc. now owns 359,006 shares of the energy company's stock valued at $71,844,000 after purchasing an additional 32,027 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Alpha Metallurgical Resources by 12.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 183,519 shares of the energy company's stock valued at $36,726,000 after buying an additional 20,636 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Alpha Metallurgical Resources by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 82,311 shares of the energy company's stock worth $16,472,000 after buying an additional 428 shares during the last quarter. Hosking Partners LLP grew its holdings in Alpha Metallurgical Resources by 76.6% during the fourth quarter. Hosking Partners LLP now owns 55,220 shares of the energy company's stock worth $11,051,000 after acquiring an additional 23,944 shares during the period. Finally, Principal Financial Group Inc. raised its position in Alpha Metallurgical Resources by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 53,358 shares of the energy company's stock valued at $10,678,000 after acquiring an additional 1,561 shares in the last quarter. Institutional investors and hedge funds own 84.29% of the company's stock.

Alpha Metallurgical Resources Stock Up 7.2 %

Shares of NYSE:AMR traded up $7.91 during trading on Friday, reaching $118.43. 372,364 shares of the company's stock traded hands, compared to its average volume of 226,786. The firm has a market cap of $1.55 billion, a PE ratio of 4.35 and a beta of 1.08. Alpha Metallurgical Resources, Inc. has a fifty-two week low of $100.00 and a fifty-two week high of $361.17. The company has a 50-day simple moving average of $140.35 and a 200-day simple moving average of $189.42.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last issued its quarterly earnings data on Friday, February 28th. The energy company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The business had revenue of $617.30 million during the quarter, compared to analyst estimates of $658.20 million. Alpha Metallurgical Resources had a net margin of 11.08% and a return on equity of 22.65%. The firm's revenue for the quarter was down 35.7% on a year-over-year basis. During the same period in the previous year, the business posted $12.88 earnings per share. On average, equities research analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, B. Riley lowered their price objective on Alpha Metallurgical Resources from $272.00 to $183.00 and set a "buy" rating on the stock in a research report on Friday.

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.