Alpha Metallurgical Resources (NYSE:AMR) Stock Price Down 5.5% - Here's Why

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report)'s stock price dropped 5.5% during trading on Friday . The stock traded as low as $109.86 and last traded at $109.30. Approximately 122,388 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 289,724 shares. The stock had previously closed at $115.71.

Wall Street Analyst Weigh In

AMR has been the subject of several analyst reports. Wall Street Zen cut Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. B. Riley lowered their price objective on Alpha Metallurgical Resources from $183.00 to $181.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th.

Alpha Metallurgical Resources Stock Performance

The firm's 50 day moving average price is $118.93 and its two-hundred day moving average price is $152.74. The firm has a market cap of $1.41 billion, a PE ratio of 53.23 and a beta of 0.68.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last issued 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 firm had revenue of $531.96 million during the quarter, compared to analyst estimates of $586.15 million. During the same period in the previous year, the firm posted $9.59 earnings per share. The company's quarterly revenue was down 38.4% compared to the same quarter last year. On average, analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Institutional Trading of Alpha Metallurgical Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in AMR. Rhumbline Advisers increased its holdings in shares of Alpha Metallurgical Resources by 1.1% in the fourth quarter. Rhumbline Advisers now owns 30,302 shares of the energy company's stock valued at $6,064,000 after purchasing an additional 328 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Alpha Metallurgical Resources by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 53,358 shares of the energy company's stock valued at $10,678,000 after acquiring an additional 1,561 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Alpha Metallurgical Resources by 4.4% during the fourth quarter. New York State Common Retirement Fund now owns 11,972 shares of the energy company's stock valued at $2,396,000 after buying an additional 500 shares during the period. Y Intercept Hong Kong Ltd lifted its stake in shares of Alpha Metallurgical Resources by 32.5% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 5,123 shares of the energy company's stock worth $1,025,000 after purchasing an additional 1,257 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Alpha Metallurgical Resources by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 82,311 shares of the energy company's stock worth $16,472,000 after buying an additional 428 shares during the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.