Alpha Metallurgical Resources (NYSE:AMR) Trading Down 4.8% - Here's Why

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) traded down 4.8% during trading on Friday . The stock traded as low as $222.66 and last traded at $223.32. 44,672 shares were traded during mid-day trading, a decline of 79% from the average session volume of 214,005 shares. The stock had previously closed at $234.70.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Benchmark reiterated a "hold" rating on shares of Alpha Metallurgical Resources in a report on Monday, November 4th. B. Riley lowered their target price on shares of Alpha Metallurgical Resources from $374.00 to $336.00 and set a "buy" rating for the company in a report on Friday, September 6th.

Alpha Metallurgical Resources Price Performance

The business's fifty day moving average is $228.32 and its 200-day moving average is $255.10. The firm has a market cap of $2.92 billion, a PE ratio of 8.24 and a beta of 1.46.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its quarterly earnings data 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). Alpha Metallurgical Resources had a return on equity of 22.65% and a net margin of 11.08%. The company had revenue of $671.90 million for the quarter, compared to analysts' expectations of $672.95 million. During the same quarter last year, the business posted $6.65 EPS. The business's quarterly revenue was down 9.4% on a year-over-year basis. Analysts forecast that Alpha Metallurgical Resources, Inc. will post 16.87 EPS for the current year.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several large investors have recently modified their holdings of AMR. Pacer Advisors Inc. increased its stake in shares of Alpha Metallurgical Resources by 30.2% in the third quarter. Pacer Advisors Inc. now owns 798,584 shares of the energy company's stock worth $188,610,000 after purchasing an additional 185,376 shares in the last quarter. Hosking Partners LLP purchased a new position in shares of Alpha Metallurgical Resources in the second quarter worth about $5,123,000. American Century Companies Inc. increased its stake in shares of Alpha Metallurgical Resources by 6.0% in the second quarter. American Century Companies Inc. now owns 305,726 shares of the energy company's stock worth $85,765,000 after purchasing an additional 17,261 shares in the last quarter. Edgestream Partners L.P. boosted its position in shares of Alpha Metallurgical Resources by 743.8% in the second quarter. Edgestream Partners L.P. now owns 17,247 shares of the energy company's stock valued at $4,838,000 after acquiring an additional 15,203 shares during the period. Finally, Barclays PLC boosted its position in shares of Alpha Metallurgical Resources by 309.2% in the third quarter. Barclays PLC now owns 18,646 shares of the energy company's stock valued at $4,402,000 after acquiring an additional 14,089 shares during the period. Hedge funds and other institutional investors own 84.29% of the company's stock.

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.