Alpha Metallurgical Resources (NYSE:AMR) Shares Gap Up - What's Next?

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) shares gapped up prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen lowered Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Jefferies Financial Group assumed coverage on Alpha Metallurgical Resources in a research note on Tuesday, July 1st. They set a "hold" rating and a $110.00 price objective on the stock. Finally, B. Riley decreased their price objective on Alpha Metallurgical Resources from $181.00 to $173.00 and set a "buy" rating on the stock in a research note on Tuesday.

Alpha Metallurgical Resources Stock Performance

The company has a market capitalization of $1.78 billion, a P/E ratio of 67.37 and a beta of 0.66. The business has a 50 day moving average of $114.56 and a 200-day moving average of $136.33.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The energy company reported ($2.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.06) by ($1.54). The company had revenue of $531.96 million for the quarter, compared to the consensus estimate of $586.15 million. Alpha Metallurgical Resources had a net margin of 1.01% and a return on equity of 1.62%. The business'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, equities analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of institutional investors have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. increased its stake in Alpha Metallurgical Resources by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,150 shares of the energy company's stock worth $230,000 after acquiring an additional 73 shares during the last quarter. Bank of Montreal Can increased its stake in Alpha Metallurgical Resources by 6.0% in the 4th quarter. Bank of Montreal Can now owns 1,318 shares of the energy company's stock worth $264,000 after acquiring an additional 75 shares during the last quarter. X Square Capital LLC increased its stake in Alpha Metallurgical Resources by 2.9% in the 4th quarter. X Square Capital LLC now owns 3,005 shares of the energy company's stock worth $601,000 after acquiring an additional 84 shares during the last quarter. Swiss National Bank increased its stake in Alpha Metallurgical Resources by 0.5% in the 4th quarter. Swiss National Bank now owns 21,700 shares of the energy company's stock worth $4,343,000 after acquiring an additional 100 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its stake in Alpha Metallurgical Resources by 4.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 2,688 shares of the energy company's stock worth $302,000 after acquiring an additional 114 shares during the last quarter. 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.