5 Best Multibagger Stocks to Buy Now

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

Number of Hedge Fund Holders: 25

1-Year Stock Price Performance: 179.58%

Alpha Metallurgical Resources, Inc. (NYSE:AMR) is a Bristol, Tennessee-based coal supplier with surface and underground coal mining facilities spread across Central and Northern Appalachia.

An update provided to investors on September 13 revealed that Alpha Metallurgical Resources, Inc. (NYSE:AMR) has committed to shipping 4.5 million tons of metallurgical coal to its customers in 2023. Furthermore, the entity intends to pursue the share buyback plan of $600 million. As of August 31, Alpha Metallurgical Resources, Inc. (NYSE:AMR) has already bought $326.2 million worth of stock under this plan.

Lance Vitanza at Cowen maintained an Outperform rating on Alpha Metallurgical Resources, Inc. (NYSE:AMR) stock and increased the target price from $191 to $225 in an investor update provided on September 15. The analyst has increased the target price to reflect the improvement in the price of metallurgic coal. Vitanza highlighted that the discount between the share price of Alpha Metallurgical Resources, Inc. (NYSE:AMR) and its intrinsic value had increased significantly, making it one of the best multibagger stocks to buy now.