Bank of Montreal Can Has $570,000 Position in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Bank of Montreal Can decreased its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 14.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,998 shares of the energy company’s stock after selling 347 shares during the quarter. Bank of Montreal Can’s holdings in Alpha Metallurgical Resources were worth $570,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board raised its position in shares of Alpha Metallurgical Resources by 4.9% in the second quarter. Public Sector Pension Investment Board now owns 25,429 shares of the energy company’s stock valued at $7,134,000 after purchasing an additional 1,188 shares during the period. Sei Investments Co. grew its stake in Alpha Metallurgical Resources by 200.9% in the 2nd quarter. Sei Investments Co. now owns 9,596 shares of the energy company’s stock valued at $2,691,000 after buying an additional 6,407 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Alpha Metallurgical Resources by 22.2% in the 2nd quarter. Pacer Advisors Inc. now owns 613,208 shares of the energy company’s stock valued at $172,023,000 after acquiring an additional 111,504 shares during the period. Goehring & Rozencwajg Associates LLC lifted its position in Alpha Metallurgical Resources by 13.1% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 69,847 shares of the energy company’s stock worth $19,594,000 after acquiring an additional 8,100 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Alpha Metallurgical Resources during the second quarter worth approximately $528,000. 84.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AMR shares. Benchmark reiterated a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Tuesday, August 6th. B. Riley lowered their price objective on Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating on the stock in a research report on Friday, September 6th.

Alpha Metallurgical Resources Stock Performance

NYSE:AMR opened at $220.30 on Wednesday. Alpha Metallurgical Resources, Inc. has a 52 week low of $185.00 and a 52 week high of $452.00. The firm’s 50-day simple moving average is $229.79 and its 200 day simple moving average is $281.76. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 5.34 and a beta of 1.30.

Alpha Metallurgical Resources (NYSE:AMR) last announced its earnings results on Monday, August 5th. The energy company reported $4.49 EPS for the quarter, topping the consensus estimate of $4.46 by $0.03. The company 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 13.52% and a return on equity of 28.63%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the firm earned $12.16 earnings per share. Sell-side analysts anticipate that Alpha Metallurgical Resources, Inc. will post 20.67 EPS for the current year.

About Alpha Metallurgical Resources

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.