Alpha Metallurgical Resources, Inc. (NYSE:AMR) Short Interest Down 6.9% in October

Alpha Metallurgical Resources, Inc. (NYSE:AMR) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 931,500 shares, a drop of 6.9% from the October 15th total of 1,000,000 shares. Based on an average daily trading volume, of 221,800 shares, the short-interest ratio is presently 4.2 days. Approximately 8.6% of the shares of the company are short sold.

Analyst Ratings Changes

AMR has been the subject of a number of research analyst reports. 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 research note on Friday, September 6th.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in shares of Alpha Metallurgical Resources in the 1st quarter worth about $356,000. Russell Investments Group Ltd. increased its stake in shares of Alpha Metallurgical Resources by 15.8% in the first quarter. Russell Investments Group Ltd. now owns 5,549 shares of the energy company’s stock valued at $1,838,000 after purchasing an additional 757 shares during the period. ProShare Advisors LLC raised its holdings in shares of Alpha Metallurgical Resources by 7.4% during the first quarter. ProShare Advisors LLC now owns 2,336 shares of the energy company’s stock valued at $774,000 after buying an additional 160 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Alpha Metallurgical Resources by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,224,801 shares of the energy company’s stock worth $405,617,000 after buying an additional 11,217 shares during the period. Finally, Edgestream Partners L.P. bought a new position in Alpha Metallurgical Resources in the 1st quarter worth approximately $677,000. 84.29% of the stock is currently owned by institutional investors.

Alpha Metallurgical Resources Stock Down 0.3 %

Shares of NYSE AMR opened at $241.82 on Wednesday. The firm’s 50-day moving average price is $219.68 and its two-hundred day moving average price is $260.11. Alpha Metallurgical Resources has a 52-week low of $185.00 and a 52-week high of $452.00. The stock has a market capitalization of $3.15 billion, a P/E ratio of 8.64 and a beta of 1.33.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results 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). 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 during the quarter, compared to the consensus estimate of $672.95 million. During the same period last year, the business posted $6.65 EPS. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. As a group, equities research analysts expect that Alpha Metallurgical Resources will post 16.87 earnings per share for the current year.

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.