Wedge Capital Management L L P NC Trims Holdings in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Wedge Capital Management L L P NC reduced its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 19.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,470 shares of the energy company’s stock after selling 818 shares during the period. Wedge Capital Management L L P NC’s holdings in Alpha Metallurgical Resources were worth $973,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of AMR. GAMMA Investing LLC purchased a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at approximately $33,000. Wetzel Investment Advisors Inc. bought a new position in Alpha Metallurgical Resources during the 4th quarter valued at approximately $34,000. Quadrant Capital Group LLC purchased a new position in Alpha Metallurgical Resources during the fourth quarter valued at $35,000. Creekmur Asset Management LLC bought a new stake in Alpha Metallurgical Resources in the fourth quarter worth $36,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Alpha Metallurgical Resources by 947.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 178 shares of the energy company’s stock worth $60,000 after acquiring an additional 161 shares during the last quarter. Institutional investors own 84.29% of the company’s stock.

Analyst Upgrades and Downgrades

AMR has been the subject of several recent analyst reports. B. Riley lifted their price target on Alpha Metallurgical Resources from $374.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Benchmark reiterated a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Tuesday, August 6th.

Alpha Metallurgical Resources Trading Down 0.5 %

AMR stock traded down $1.12 during trading on Friday, reaching $234.06. The stock had a trading volume of 30,454 shares, compared to its average volume of 220,029. The stock’s 50 day moving average is $290.84 and its two-hundred day moving average is $321.59. The firm has a market cap of $3.04 billion, a PE ratio of 5.70 and a beta of 1.36. Alpha Metallurgical Resources, Inc. has a 52 week low of $186.74 and a 52 week high of $452.00.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings data on Monday, August 5th. The energy company reported $4.49 earnings per share for the quarter, topping the consensus estimate of $4.46 by $0.03. The firm had revenue of $804.00 million for the quarter, compared to analysts’ expectations of $733.05 million. Alpha Metallurgical Resources had a net margin of 16.89% and a return on equity of 36.77%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $12.16 EPS. On average, research analysts anticipate that Alpha Metallurgical Resources, Inc. will post 28.83 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.