Alpha Metallurgical Resources (NYSE:AMR) Sets New 12-Month Low – What’s Next?

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s share price reached a new 52-week low on Friday . The stock traded as low as $185.00 and last traded at $186.45, with a volume of 18563 shares trading hands. The stock had previously closed at $187.42.

Analysts Set New Price Targets

Separately, Benchmark reiterated a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday, November 4th.

Alpha Metallurgical Resources Trading Down 3.7 %

The firm has a market cap of $2.35 billion, a PE ratio of 6.62 and a beta of 1.48. The business’s 50-day simple moving average is $222.91 and its 200 day simple moving average is $239.17.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings data on Friday, November 1st. The energy company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($1.31). The business had revenue of $671.90 million for the quarter, compared to analysts’ expectations of $672.95 million. Alpha Metallurgical Resources had a net margin of 11.08% and a return on equity of 22.65%. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $6.65 earnings per share. Analysts expect that Alpha Metallurgical Resources, Inc. will post 16.87 earnings per share for the current year.

Insider Activity

In other news, Director Kenneth S. Courtis sold 10,621 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $228.73, for a total transaction of $2,429,341.33. Following the transaction, the director now owns 603,342 shares in the company, valued at $138,002,415.66. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of large investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in Alpha Metallurgical Resources by 309.2% in the 3rd quarter. Barclays PLC now owns 18,646 shares of the energy company’s stock worth $4,402,000 after buying an additional 14,089 shares during the last quarter. Stratos Wealth Advisors LLC lifted its position in shares of Alpha Metallurgical Resources by 50.3% in the third quarter. Stratos Wealth Advisors LLC now owns 9,878 shares of the energy company’s stock valued at $2,333,000 after acquiring an additional 3,305 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Alpha Metallurgical Resources by 22.4% in the third quarter. Victory Capital Management Inc. now owns 15,441 shares of the energy company’s stock worth $3,647,000 after acquiring an additional 2,823 shares during the last quarter. Impala Asset Management LLC purchased a new stake in shares of Alpha Metallurgical Resources during the third quarter worth approximately $1,181,000. Finally, HighTower Advisors LLC purchased a new position in Alpha Metallurgical Resources in the 3rd quarter valued at $640,000. 84.29% of the stock is currently owned by institutional investors and hedge funds.

About Alpha Metallurgical Resources

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.