Alpha Metallurgical Resources (NYSE:AMR) Stock Price Down 4.5%

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s share price traded down 4.5% on Friday . The company traded as low as $306.24 and last traded at $306.24. 34,868 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 228,340 shares. The stock had previously closed at $320.78.

Wall Street Analysts Forecast Growth

AMR has been the topic of several research analyst reports. B. Riley boosted their target price on Alpha Metallurgical Resources from $374.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Tuesday, May 7th.

Alpha Metallurgical Resources Stock Performance

The stock has a 50 day moving average of $304.23 and a 200-day moving average of $337.50. The company has a market cap of $4.02 billion, a PE ratio of 7.42 and a beta of 1.36.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings data on Monday, May 6th. The energy company reported $9.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.61 by ($0.02). The firm had revenue of $864.07 million during the quarter, compared to analysts’ expectations of $845.35 million. Alpha Metallurgical Resources had a return on equity of 36.77% and a net margin of 16.89%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $17.01 earnings per share. Equities research analysts forecast that Alpha Metallurgical Resources, Inc. will post 28.91 EPS for the current year.

Insider Buying and Selling at Alpha Metallurgical Resources

In other news, CAO Roger Lee Nicholson sold 3,593 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $290.16, for a total value of $1,042,544.88. Following the sale, the chief accounting officer now owns 6,127 shares in the company, valued at $1,777,810.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 16.40% of the company’s stock.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMR. Stifel Financial Corp acquired a new position in shares of Alpha Metallurgical Resources in the 3rd quarter valued at about $2,363,000. Qube Research & Technologies Ltd acquired a new position in Alpha Metallurgical Resources in the third quarter valued at approximately $2,991,000. Tower Research Capital LLC TRC boosted its position in Alpha Metallurgical Resources by 338.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,559 shares of the energy company’s stock worth $665,000 after purchasing an additional 1,975 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Alpha Metallurgical Resources by 1.1% during the 3rd quarter. Deutsche Bank AG now owns 73,462 shares of the energy company’s stock worth $19,080,000 after purchasing an additional 788 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Alpha Metallurgical Resources by 6.8% during the 3rd quarter. American Century Companies Inc. now owns 246,828 shares of the energy company’s stock valued at $64,109,000 after purchasing an additional 15,692 shares in the last quarter. 84.29% of the stock is 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.