Alpha Metallurgical Resources, Inc. (NYSE:AMR) Position Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 22.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,797 shares of the energy company's stock after selling 14,804 shares during the period. Principal Financial Group Inc. owned approximately 0.40% of Alpha Metallurgical Resources worth $12,233,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Federated Hermes Inc. purchased a new stake in shares of Alpha Metallurgical Resources during the 2nd quarter valued at about $25,000. GAMMA Investing LLC raised its stake in shares of Alpha Metallurgical Resources by 124.6% during 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 during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Alpha Metallurgical Resources during the third quarter worth $36,000. Sound Income Strategies LLC acquired a new stake in Alpha Metallurgical Resources during the 3rd quarter valued at $40,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Alpha Metallurgical Resources during the 2nd quarter worth $142,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Trading Down 0.3 %

Shares of NYSE:AMR opened at $235.17 on Friday. The firm has a market cap of $3.06 billion, a PE ratio of 8.63 and a beta of 1.33. The company has a fifty day simple moving average of $218.68 and a 200 day simple moving average of $261.58. Alpha Metallurgical Resources, Inc. has a 12-month low of $185.00 and a 12-month high of $452.00.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its quarterly earnings data 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 net margin of 11.08% and a return on equity of 22.65%. The firm had revenue of $671.90 million during the quarter, compared to the consensus estimate of $672.95 million. During the same period in the prior year, the firm earned $6.65 earnings per share. The firm's quarterly revenue was down 9.4% compared to the same quarter last year. As a group, equities research analysts forecast that Alpha Metallurgical Resources, Inc. will post 16.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AMR shares. B. Riley decreased their price objective on shares of Alpha Metallurgical Resources from $374.00 to $336.00 and set a "buy" rating for the company in a research report on Friday, September 6th. Benchmark restated a "hold" rating on shares of Alpha Metallurgical Resources in a research note on Monday, November 4th.

Alpha Metallurgical Resources 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.