5 Best-Performing Non-Energy Stocks of 2022

In this article, we discuss 5 best performing non-energy stocks of 2022. If you want to see more stocks in this selection, click 10 Best-Performing Non-Energy Stocks of 2022. 

5. Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Number of Hedge Fund Holders: 25

YTD Share Price Gain as of September 16: 122.6%

Alpha Metallurgical Resources, Inc. (NYSE:AMR) is a Tennessee-based mining company that produces and sells met and thermal coal in Virginia and West Virginia. On August 8, Alpha Metallurgical Resources, Inc. (NYSE:AMR) declared a $0.392 per share quarterly dividend, a 4.5% increase from its prior dividend of $0.375. The dividend is payable on October 3, to shareholders of record as of September 15. The stock registered a YTD share price gain of 122.6% on September 16, which merits its inclusion on our list of the best-performing non-energy stocks of 2022. 

On September 15, Cowen analyst Lance Vitanza raised the price target on Alpha Metallurgical Resources, Inc. (NYSE:AMR) to $225 from $191 and reiterated an Outperform rating on the shares. The analyst said his target increase is due to an improved met coal price deck and observed that the discount between Alpha Metallurgical Resources, Inc. (NYSE:AMR) shares and their intrinsic value has risen significantly.

According to Insider Monkey’s data, Alpha Metallurgical Resources, Inc. (NYSE:AMR) was part of 25 hedge fund portfolios at the end of Q2 2022, compared to 30 funds in the last quarter. Jim Simons’ Renaissance Technologies is the leading stakeholder of the company, with 872,215 shares worth $112.6 million.