Renaissance Technologies LLC Cuts Position in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Renaissance Technologies LLC reduced its stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 527,515 shares of the energy company’s stock after selling 13,200 shares during the period. Renaissance Technologies LLC owned approximately 4.06% of Alpha Metallurgical Resources worth $147,984,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Federated Hermes Inc. acquired a new position in Alpha Metallurgical Resources during the second quarter worth about $25,000. Quadrant Capital Group LLC acquired a new stake in Alpha Metallurgical Resources in the fourth quarter valued at $35,000. Creekmur Asset Management LLC purchased a new position in shares of Alpha Metallurgical Resources in the fourth quarter valued at $36,000. PNC Financial Services Group Inc. raised its stake in shares of Alpha Metallurgical Resources by 947.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 178 shares of the energy company’s stock worth $60,000 after buying an additional 161 shares during the last quarter. Finally, FinTrust Capital Advisors LLC purchased a new position in Alpha Metallurgical Resources during the 4th quarter valued at about $64,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Alpha Metallurgical Resources Stock Performance

Shares of AMR stock opened at $210.71 on Monday. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 5.10 and a beta of 1.30. The company has a 50 day moving average price of $257.82 and a 200 day moving average price of $296.13. 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 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. Alpha Metallurgical Resources had a return on equity of 28.63% and a net margin of 13.52%. The business had revenue of $804.00 million during the quarter, compared to the consensus estimate of $733.05 million. During the same period in the prior year, the firm posted $12.16 EPS. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts forecast that Alpha Metallurgical Resources, Inc. will post 20.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AMR has been the topic of several recent research reports. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a report on Tuesday, August 6th. B. Riley cut 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.

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.