Alpha Metallurgical Resources, Inc. (NYSE:AMR) Shares Sold by State Street Corp

State Street Corp cut its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 3.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 695,083 shares of the energy company's stock after selling 26,617 shares during the period. State Street Corp owned about 5.34% of Alpha Metallurgical Resources worth $164,165,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AMR. Pacer Advisors Inc. raised its position in Alpha Metallurgical Resources by 30.2% in the 3rd quarter. Pacer Advisors Inc. now owns 798,584 shares of the energy company's stock valued at $188,610,000 after purchasing an additional 185,376 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Alpha Metallurgical Resources by 6.0% during the second quarter. American Century Companies Inc. now owns 305,726 shares of the energy company's stock worth $85,765,000 after buying an additional 17,261 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Alpha Metallurgical Resources by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 162,883 shares of the energy company's stock worth $38,470,000 after acquiring an additional 7,241 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in Alpha Metallurgical Resources by 6.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 106,289 shares of the energy company's stock worth $29,817,000 after acquiring an additional 6,646 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC increased its position in shares of Alpha Metallurgical Resources by 13.1% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 69,847 shares of the energy company's stock valued at $19,594,000 after purchasing an additional 8,100 shares during the last quarter. Hedge funds and other institutional investors own 84.29% of the company's stock.

Analyst Upgrades and Downgrades

AMR has been the topic of several recent analyst reports. B. Riley dropped 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. Benchmark reiterated a "hold" rating on shares of Alpha Metallurgical Resources in a report on Monday, November 4th.

Alpha Metallurgical Resources Price Performance

Shares of NYSE:AMR traded down $2.89 during trading on Friday, hitting $228.71. 126,985 shares of the company were exchanged, compared to its average volume of 213,575. The firm's 50 day moving average price is $228.45 and its 200-day moving average price is $253.41. Alpha Metallurgical Resources, Inc. has a 12-month low of $185.00 and a 12-month high of $452.00. The stock has a market capitalization of $2.98 billion, a P/E ratio of 8.38 and a beta of 1.46.

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

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.