Principal Financial Group Inc. Decreases Stock Position in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Principal Financial Group Inc. cut its position in Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 22.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,797 shares of the energy company’s stock after selling 14,804 shares during the quarter. Principal Financial Group Inc. owned 0.40% of Alpha Metallurgical Resources worth $12,233,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Malaga Cove Capital LLC purchased a new position in shares of Alpha Metallurgical Resources in the third quarter valued at $471,000. Old West Investment Management LLC boosted its stake in shares of Alpha Metallurgical Resources by 177.2% in the third quarter. Old West Investment Management LLC now owns 6,446 shares of the energy company’s stock valued at $1,522,000 after purchasing an additional 4,121 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of Alpha Metallurgical Resources in the third quarter valued at $36,000. Janney Montgomery Scott LLC boosted its stake in shares of Alpha Metallurgical Resources by 41.8% in the third quarter. Janney Montgomery Scott LLC now owns 3,181 shares of the energy company’s stock valued at $751,000 after purchasing an additional 937 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in Alpha Metallurgical Resources by 1,081.9% in the third quarter. Farther Finance Advisors LLC now owns 1,832 shares of the energy company’s stock valued at $433,000 after acquiring an additional 1,677 shares in the last quarter. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday, November 4th. B. Riley cut their price target on shares of 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 Stock Performance

Shares of NYSE:AMR opened at $235.17 on Friday. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 8.63 and a beta of 1.33. 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 $218.68 and its two-hundred day moving average is $261.58.

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

Alpha Metallurgical Resources Company 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.