Alpha Metallurgical Resources (NYSE:AMR) Shares Gap Up - Still a Buy?

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $126.07, but opened at $134.90. Alpha Metallurgical Resources shares last traded at $139.55, with a volume of 161,950 shares.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AMR shares. B. Riley decreased their target price on Alpha Metallurgical Resources from $181.00 to $173.00 and set a "buy" rating on the stock in a research note on Tuesday. Jefferies Financial Group started coverage on shares of Alpha Metallurgical Resources in a report on Tuesday, July 1st. They set a "hold" rating and a $110.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Alpha Metallurgical Resources Stock Performance

The stock has a market capitalization of $1.85 billion, a P/E ratio of 70.07 and a beta of 0.66. The firm has a fifty day moving average price of $114.56 and a two-hundred day moving average price of $136.33.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its quarterly earnings data 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). Alpha Metallurgical Resources had a net margin of 1.01% and a return on equity of 1.62%. The company had revenue of $531.96 million for the quarter, compared to analysts' expectations of $586.15 million. During the same period in the previous year, the firm earned $9.59 earnings per share. The firm's quarterly revenue was down 38.4% on a year-over-year basis. On average, research analysts anticipate that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

Institutional Trading of Alpha Metallurgical Resources

A number of large investors have recently added to or reduced their stakes in AMR. Dimensional Fund Advisors LP lifted its holdings in shares of Alpha Metallurgical Resources by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 736,379 shares of the energy company's stock valued at $147,366,000 after acquiring an additional 28,225 shares during the last quarter. Renaissance Technologies LLC raised its position in Alpha Metallurgical Resources by 0.8% during the fourth quarter. Renaissance Technologies LLC now owns 540,215 shares of the energy company's stock valued at $108,108,000 after purchasing an additional 4,200 shares during the period. Dalal Street LLC lifted its stake in shares of Alpha Metallurgical Resources by 1.6% in the 4th quarter. Dalal Street LLC now owns 487,251 shares of the energy company's stock valued at $97,509,000 after purchasing an additional 7,553 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Alpha Metallurgical Resources by 6.3% in the 1st quarter. American Century Companies Inc. now owns 381,450 shares of the energy company's stock valued at $47,777,000 after purchasing an additional 22,444 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Alpha Metallurgical Resources by 50.9% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 136,217 shares of the energy company's stock worth $17,061,000 after purchasing an additional 45,934 shares during the period. Institutional investors own 84.29% of the company's stock.

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.