Alpha Metallurgical Resources (NYSE:AMR) Shares Down 4.7% - Here's Why

Key Points

• Alpha Metallurgical Resources shares fell 4.7% on Thursday, trading as low as $165.52, with an 82% decrease in trading volume compared to average levels.
• Analysts have mixed views on the stock, with Jefferies Financial Group raising its target price to $150.00 while B. Riley lowered it slightly to $171.00, resulting in a consensus target price of $160.50.
• The company reported a quarterly loss with negative EPS of $0.38, beating estimates, but overall revenue was down 31.6% year-over-year, highlighting ongoing challenges.

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report)'s stock price traded down 4.7% on Thursday . The stock traded as low as $167.63 and last traded at $165.52. 57,775 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 329,924 shares. The stock had previously closed at $173.76.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AMR shares. Jefferies Financial Group boosted their target price on shares of Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a "hold" rating in a report on Monday, August 11th. B. Riley lowered their price target on Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating for the company in a research report on Tuesday, August 5th. Finally, Wall Street Zen raised Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $160.50.

Alpha Metallurgical Resources Trading Down 5.6%

The firm has a market capitalization of $2.14 billion, a P/E ratio of -57.92 and a beta of 0.94. The company has a 50 day simple moving average of $145.76 and a two-hundred day simple moving average of $127.98.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its earnings results on Friday, August 8th. The energy company reported ($0.38) EPS for the quarter, beating analysts' consensus estimates of ($2.38) by $2.00. The firm had revenue of $550.27 million during the quarter, compared to the consensus estimate of $552.15 million. Alpha Metallurgical Resources had a negative return on equity of 2.28% and a negative net margin of 1.57%.The company's quarterly revenue was down 31.6% compared to the same quarter last year. During the same period in the prior year, the company earned $4.49 EPS. On average, sell-side analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current fiscal year.

Insider Activity at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis bought 53,000 shares of Alpha Metallurgical Resources stock in a transaction on Monday, September 15th. The shares were acquired at an average price of $154.68 per share, for a total transaction of $8,198,040.00. Following the completion of the purchase, the director directly owned 734,537 shares in the company, valued at approximately $113,618,183.16. This trade represents a 7.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jason E. Whitehead sold 12,004 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $161.84, for a total value of $1,942,727.36. Following the completion of the sale, the chief operating officer owned 9,673 shares in the company, valued at approximately $1,565,478.32. The trade was a 55.38% decrease in their position. The disclosure for this sale can be found here. 16.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several institutional investors have recently made changes to their positions in AMR. State Street Corp boosted its holdings in Alpha Metallurgical Resources by 27.2% in the second quarter. State Street Corp now owns 865,934 shares of the energy company's stock worth $97,400,000 after acquiring an additional 185,281 shares in the last quarter. Millennium Management LLC boosted its holdings in Alpha Metallurgical Resources by 208.0% in the first quarter. Millennium Management LLC now owns 106,107 shares of the energy company's stock worth $13,290,000 after acquiring an additional 71,653 shares in the last quarter. Gendell Jeffrey L boosted its holdings in Alpha Metallurgical Resources by 30.9% in the second quarter. Gendell Jeffrey L now owns 296,396 shares of the energy company's stock worth $33,339,000 after acquiring an additional 69,950 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Alpha Metallurgical Resources in the first quarter worth about $6,262,000. Finally, Marshall Wace LLP acquired a new stake in Alpha Metallurgical Resources in the second quarter worth about $5,284,000. 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.

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