5 Best Momentum Stocks To Invest In

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

YTD Return as of October 20: 144.39%

Number of Hedge Fund Holders: 25

Alpha Metallurgical Resources, Inc. (NYSE:AMR) is an American mining company that is involved in the exploration of met and thermal coal. Analysts see material upside to Alpha Metallurgical Resources, Inc. (NYSE:AMR). This August, B. Riley analyst Lucas Pipes raised his price target on Alpha Metallurgical Resources, Inc. (NYSE:AMR) to $189 from $182 and maintained a Buy rating on the shares. On September 15, Cowen analyst Lance Vitanza raised his price target on Alpha Metallurgical Resources, Inc. (NYSE:AMR) to $225 from $191 and reiterated an Outperform rating on the shares.

As of October 20, Alpha Metallurgical Resources, Inc. (NYSE:AMR) has gained 144.39% year to date and is trading at a PE multiple of 2x. The company has a trailing twelve-month operating margin of 38.9% and has free cash flows of over $887 million. Moreover, the stock is offering a forward dividend yield of 1.04%, as of October 20, and is one of the best undervalued momentum stocks to buy now.

At the close of Q2 2022, 25 hedge funds were long Alpha Metallurgical Resources, Inc. (NYSE:AMR) and held stakes worth $553 million in the company. As of June 30, Renaissance Technologies is the top shareholder in Alpha Metallurgical Resources, Inc. (NYSE:AMR) and has stakes worth $112.6 million in the company.

You can also take a look at 10 Oil Stocks To Buy That Are Too Cheap To Ignore and 10 Most Diversified Stocks.

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