State of New Jersey Common Pension Fund D Decreases Position in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

State of New Jersey Common Pension Fund D reduced its stake in Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 17.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,034 shares of the energy company’s stock after selling 1,283 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Alpha Metallurgical Resources were worth $1,693,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in shares of Alpha Metallurgical Resources by 19.3% in the 1st quarter. Janus Henderson Group PLC now owns 27,174 shares of the energy company’s stock valued at $8,998,000 after purchasing an additional 4,387 shares during the last quarter. Norges Bank purchased a new position in shares of Alpha Metallurgical Resources during the fourth quarter worth approximately $21,900,000. Wellington Management Group LLP increased its holdings in shares of Alpha Metallurgical Resources by 5.8% in the 4th quarter. Wellington Management Group LLP now owns 50,053 shares of the energy company’s stock valued at $16,964,000 after acquiring an additional 2,754 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new stake in Alpha Metallurgical Resources in the 4th quarter valued at $1,051,000. Finally, Hennessy Advisors Inc. raised its position in Alpha Metallurgical Resources by 43.9% in the 1st quarter. Hennessy Advisors Inc. now owns 25,900 shares of the energy company’s stock valued at $8,577,000 after purchasing an additional 7,900 shares during the last quarter. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Trading Up 6.4 %

NYSE:AMR opened at $226.65 on Wednesday. Alpha Metallurgical Resources, Inc. has a 12-month low of $185.00 and a 12-month high of $452.00. The stock’s 50 day simple moving average is $243.90 and its 200-day simple moving average is $287.82. The firm has a market cap of $2.95 billion, a P/E ratio of 5.49 and a beta of 1.30.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings data on Monday, August 5th. The energy company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.46 by $0.03. The company had revenue of $804.00 million during the quarter, compared to the consensus estimate of $733.05 million. Alpha Metallurgical Resources had a net margin of 13.52% and a return on equity of 28.63%. Alpha Metallurgical Resources’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $12.16 EPS. Research analysts forecast that Alpha Metallurgical Resources, Inc. will post 20.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on AMR shares. Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Tuesday, August 6th. B. Riley lowered their price target 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.

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.