Alpha Metallurgical Resources (NYSE:AMR) Stock Price Down 3.5% – What’s Next?

Alpha Metallurgical Resources, Inc. (NYSE:AMR) dropped 3.5% during mid-day trading on Friday . The stock traded as low as $243.00 and last traded at $243.00. Approximately 109,985 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 217,138 shares. The stock had previously closed at $251.73.

Wall Street Analyst Weigh In

AMR has been the subject of a number of recent research reports. B. Riley dropped their price objective on shares of Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Monday, November 4th.

Alpha Metallurgical Resources Stock Performance

The company has a market capitalization of $3.19 billion, a PE ratio of 9.09 and a beta of 1.33. The stock’s fifty day simple moving average is $222.75 and its 200-day simple moving average is $259.30.

Alpha Metallurgical Resources (NYSE:AMR) last announced its earnings results on Friday, November 1st. The energy company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($1.31). The firm 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 was down 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $6.65 EPS. On average, equities analysts anticipate that Alpha Metallurgical Resources, Inc. will post 16.87 EPS for the current year.

Institutional Trading of Alpha Metallurgical Resources

A number of hedge funds have recently added to or reduced their stakes in AMR. Federated Hermes Inc. purchased a new stake in Alpha Metallurgical Resources in the second quarter valued at approximately $25,000. GAMMA Investing LLC boosted its holdings in shares of Alpha Metallurgical Resources by 124.6% in the 3rd quarter. GAMMA Investing LLC now owns 137 shares of the energy company’s stock valued at $32,000 after purchasing an additional 76 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Alpha Metallurgical Resources during the 3rd quarter valued at $36,000. Sound Income Strategies LLC acquired a new stake in shares of Alpha Metallurgical Resources during the 3rd quarter worth $40,000. Finally, Quest Partners LLC acquired a new stake in shares of Alpha Metallurgical Resources during the 3rd quarter worth $116,000. 84.29% of the stock is owned by institutional investors and hedge funds.

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.