Alpha Metallurgical Resources (NYSE:AMR) Shares Gap Up - Here's What Happened

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $109.54, but opened at $120.59. Alpha Metallurgical Resources shares last traded at $117.50, with a volume of 23,496 shares changing hands.

Analyst Ratings Changes

Separately, B. Riley cut their price objective on Alpha Metallurgical Resources from $272.00 to $183.00 and set a "buy" rating on the stock in a research report on Friday.

Alpha Metallurgical Resources Trading Up 7.2 %

The stock's 50-day moving average price is $140.35 and its two-hundred day moving average price is $189.42. The stock has a market capitalization of $1.55 billion, a P/E ratio of 4.35 and a beta of 1.08.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its quarterly earnings data on Friday, February 28th. The energy company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.09). Alpha Metallurgical Resources had a net margin of 11.08% and a return on equity of 22.65%. The firm had revenue of $617.30 million for the quarter, compared to the consensus estimate of $658.20 million. During the same period last year, the company posted $12.88 earnings per share. Alpha Metallurgical Resources's revenue for the quarter was down 35.7% on a year-over-year basis. On average, equities research analysts predict that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Institutional investors have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. grew its stake in Alpha Metallurgical Resources by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,150 shares of the energy company's stock valued at $230,000 after acquiring an additional 73 shares in the last quarter. Bank of Montreal Can boosted its holdings in Alpha Metallurgical Resources by 6.0% in the 4th quarter. Bank of Montreal Can now owns 1,318 shares of the energy company's stock valued at $264,000 after purchasing an additional 75 shares during the period. X Square Capital LLC boosted its holdings in Alpha Metallurgical Resources by 2.9% in the 4th quarter. X Square Capital LLC now owns 3,005 shares of the energy company's stock valued at $601,000 after purchasing an additional 84 shares during the period. Swiss National Bank grew its position in shares of Alpha Metallurgical Resources by 0.5% during the 4th quarter. Swiss National Bank now owns 21,700 shares of the energy company's stock valued at $4,343,000 after purchasing an additional 100 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its position in shares of Alpha Metallurgical Resources by 214.3% in the first quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company's stock worth $28,000 after buying an additional 150 shares in the last quarter. 84.29% of the stock is owned by hedge funds and other institutional investors.

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.