5 New Stock Picks of Bruce Kovner’s Caxton Associates

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

Caxton Associates’ Stake Value: $1,869,000

Percentage of Caxton Associates’ 13F Portfolio: 0.15%

Number of Hedge Fund Holders: 30

Alpha Metallurgical Resources, Inc. (NYSE:AMR) was incorporated in 2016 and is headquartered in Bristol, Tennessee. It is a mining company that produces and sells met and thermal coal in Virginia and West Virginia. Caxton Associates, as of Q1 2022, owned 14,167 shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR), worth $1.86 million, representing 0.15% of the total 13F holdings. 

On July 12, Cowen analyst Lance Vitanza initiated coverage of Alpha Metallurgical Resources, Inc. (NYSE:AMR) with an Outperform rating and a $215 price target. As per the analyst, Alpha Metallurgical Resources, Inc. (NYSE:AMR) “stands out” as the leading local producer and exporter of met coal and is positioned to benefit from the “significant tailwinds” that have pushed the global met coal industry “into high gear”. 

Among the hedge funds tracked by Insider Monkey, 30 funds were long Alpha Metallurgical Resources, Inc. (NYSE:AMR) at the end of Q1 2022, with combined stakes worth $671.3 million. Sander Gerber’s Hudson Bay Capital Management is the leading position holder in the company, with 859,597 shares valued at $113.4 million.