Alpha Metallurgical Resources (NYSE:AMR) Trading Down 2.7% on Analyst Downgrade

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) shares dropped 2.7% during trading on Monday after B. Riley lowered their price target on the stock from $272.00 to $183.00. B. Riley currently has a buy rating on the stock. Alpha Metallurgical Resources traded as low as $114.89 and last traded at $115.44. Approximately 60,329 shares traded hands during trading, a decline of 80% from the average daily volume of 297,123 shares. The stock had previously closed at $118.67.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Large investors have recently made changes to their positions in the business. AdvisorNet Financial Inc increased its holdings in Alpha Metallurgical Resources by 214.3% during the first quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company's stock worth $28,000 after buying an additional 150 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Alpha Metallurgical Resources during the 4th quarter valued at approximately $40,000. FNY Investment Advisers LLC purchased a new stake in shares of Alpha Metallurgical Resources during the 4th quarter worth approximately $50,000. PNC Financial Services Group Inc. raised its holdings in shares of Alpha Metallurgical Resources by 127.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 289 shares of the energy company's stock worth $58,000 after purchasing an additional 162 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Alpha Metallurgical Resources in the fourth quarter valued at approximately $60,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Price Performance

The firm has a fifty day simple moving average of $134.15 and a two-hundred day simple moving average of $185.73. The firm has a market capitalization of $1.63 billion, a P/E ratio of 4.57 and a beta of 1.08.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its quarterly earnings data on Friday, February 28th. The energy company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The firm had revenue of $617.30 million during the quarter, compared to analysts' expectations of $658.20 million. Alpha Metallurgical Resources had a return on equity of 22.65% and a net margin of 11.08%. The company's revenue was down 35.7% compared to the same quarter last year. During the same period last year, the business posted $12.88 EPS. On average, research analysts anticipate that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

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.