Freedom Investment Management Inc. Buys 299 Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Freedom Investment Management Inc. raised its position in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 15.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,182 shares of the energy company’s stock after acquiring an additional 299 shares during the quarter. Freedom Investment Management Inc.’s holdings in Alpha Metallurgical Resources were worth $515,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMR. Federated Hermes Inc. purchased a new position in shares of Alpha Metallurgical Resources in the 2nd quarter valued at approximately $25,000. GAMMA Investing LLC raised its holdings in Alpha Metallurgical Resources by 124.6% in the third quarter. GAMMA Investing LLC now owns 137 shares of the energy company’s stock worth $32,000 after purchasing an additional 76 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Alpha Metallurgical Resources during the third quarter valued at $36,000. Sound Income Strategies LLC bought a new stake in shares of Alpha Metallurgical Resources during the 3rd quarter valued at $40,000. Finally, Quest Partners LLC bought a new stake in shares of Alpha Metallurgical Resources during the 3rd quarter valued at $116,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Alpha Metallurgical Resources Trading Down 2.0 %

Shares of NYSE:AMR opened at $245.57 on Friday. The stock has a fifty day simple moving average of $227.53 and a two-hundred day simple moving average of $257.30. 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 $3.20 billion, a price-to-earnings ratio of 9.01 and a beta of 1.33.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Friday, November 1st. The energy company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($1.31). The firm had revenue of $671.90 million during the quarter, compared to the consensus estimate of $672.95 million. Alpha Metallurgical Resources had a return on equity of 22.65% and a net margin of 11.08%. The business’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.65 EPS. As a group, equities research analysts predict that Alpha Metallurgical Resources, Inc. will post 16.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Benchmark reiterated a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Monday, November 4th. B. Riley decreased their target price on shares of Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating for the company in a research note on Friday, September 6th.

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.