Cynosure Group LLC Acquires 2,303 Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Cynosure Group LLC raised its stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 183.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,556 shares of the energy company’s stock after acquiring an additional 2,303 shares during the quarter. Cynosure Group LLC’s holdings in Alpha Metallurgical Resources were worth $840,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMR. Pacer Advisors Inc. grew its stake in Alpha Metallurgical Resources by 30.2% during the 3rd quarter. Pacer Advisors Inc. now owns 798,584 shares of the energy company’s stock worth $188,610,000 after buying an additional 185,376 shares during the last quarter. American Century Companies Inc. lifted its holdings in Alpha Metallurgical Resources by 6.0% in the second quarter. American Century Companies Inc. now owns 305,726 shares of the energy company’s stock valued at $85,765,000 after acquiring an additional 17,261 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Alpha Metallurgical Resources by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 162,883 shares of the energy company’s stock worth $38,470,000 after purchasing an additional 7,241 shares during the period. Jupiter Asset Management Ltd. increased its holdings in shares of 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 valued at $29,817,000 after purchasing an additional 6,646 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC lifted its stake 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 period. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Alpha Metallurgical Resources Stock Performance

Shares of NYSE AMR opened at $247.05 on Wednesday. The firm has a fifty day moving average of $225.08 and a 200 day moving average of $257.71. The firm has a market cap of $3.22 billion, a PE ratio of 9.07 and a beta of 1.33. Alpha Metallurgical Resources, Inc. has a one year low of $185.00 and a one year high of $452.00.

Alpha Metallurgical Resources (NYSE:AMR) last released 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 22.65% and a net margin of 11.08%. The company had revenue of $671.90 million for the quarter, compared to analyst estimates of $672.95 million. During the same quarter last year, the company earned $6.65 EPS. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. On average, equities analysts predict that Alpha Metallurgical Resources, Inc. will post 16.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday, November 4th. B. Riley reduced their price target on Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating for the company in a report on Friday, September 6th.

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.