Alpha Metallurgical Resources, Inc. (NYSE:AMR) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. increased its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 4.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 18,344 shares of the energy company’s stock after acquiring an additional 802 shares during the quarter. Franklin Resources Inc.’s holdings in Alpha Metallurgical Resources were worth $4,105,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AMR. Federated Hermes Inc. purchased a new stake in shares of Alpha Metallurgical Resources during the 2nd quarter worth approximately $25,000. GAMMA Investing LLC raised its stake in Alpha Metallurgical Resources by 124.6% during the 3rd quarter. GAMMA Investing LLC now owns 137 shares of the energy company’s stock worth $32,000 after acquiring an additional 76 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Alpha Metallurgical Resources in the third quarter valued at $36,000. Sound Income Strategies LLC acquired a new position in Alpha Metallurgical Resources in the third quarter valued at $40,000. Finally, Quest Partners LLC purchased a new position in shares of Alpha Metallurgical Resources during the third quarter worth about $116,000. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMR. B. Riley decreased their target price on Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday, November 4th.

Insider Transactions at Alpha Metallurgical Resources

In related news, Director Kenneth S. Courtis sold 10,621 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $228.73, for a total transaction of $2,429,341.33. Following the completion of the transaction, the director now directly owns 603,342 shares of the company’s stock, valued at $138,002,415.66. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 16.40% of the company’s stock.

Alpha Metallurgical Resources Stock Performance

Shares of Alpha Metallurgical Resources stock opened at $199.85 on Wednesday. The company has a market capitalization of $2.60 billion, a P/E ratio of 7.33 and a beta of 1.46. Alpha Metallurgical Resources, Inc. has a 1 year low of $185.00 and a 1 year high of $452.00. The company’s fifty day moving average is $226.22 and its two-hundred day moving average is $247.63.

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