Alpha Metallurgical Resources (NYSE:AMR) Sets New 52-Week Low - Here's Why

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $99.84 and last traded at $99.97, with a volume of 132320 shares. The stock had previously closed at $104.34.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. B. Riley lowered their price objective on Alpha Metallurgical Resources from $183.00 to $181.00 and set a "buy" rating for the company in a research report on Thursday, May 15th. Wall Street Zen downgraded Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Alpha Metallurgical Resources Price Performance

The firm has a market capitalization of $1.30 billion, a P/E ratio of 49.29 and a beta of 0.68. The stock has a fifty day simple moving average of $117.84 and a two-hundred day simple moving average of $149.15.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last issued its earnings results on Friday, May 9th. The energy company reported ($2.60) earnings per share for the quarter, missing analysts' consensus estimates of ($1.06) by ($1.54). The business had revenue of $531.96 million during the quarter, compared to the consensus estimate of $586.15 million. Alpha Metallurgical Resources had a return on equity of 1.62% and a net margin of 1.01%. The company's revenue for the quarter was down 38.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.59 earnings per share. As a group, sell-side analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Alpha Metallurgical Resources

A number of hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC grew its stake in Alpha Metallurgical Resources by 306.1% in the first quarter. Signaturefd LLC now owns 199 shares of the energy company's stock valued at $25,000 after acquiring an additional 150 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Alpha Metallurgical Resources in the fourth quarter valued at approximately $40,000. AdvisorNet Financial Inc grew its stake in Alpha Metallurgical Resources by 214.3% in the first quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company's stock valued at $28,000 after acquiring an additional 150 shares during the period. PNC Financial Services Group Inc. grew its stake in Alpha Metallurgical Resources by 127.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 289 shares of the energy company's stock valued at $58,000 after acquiring an additional 162 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in Alpha Metallurgical Resources in the first quarter valued at approximately $38,000. 84.29% of the stock is currently owned by institutional investors.

Alpha Metallurgical Resources Company Profile

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.