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

Key Points

• Alpha Metallurgical Resources' stock dropped 5.5% on Wednesday, with a last traded price of $155.29, and the trading volume was significantly down by 75% compared to average levels.
• Brokerage ratings vary, with one firm issuing a "buy" rating and others giving "hold" and "sell" ratings, while the consensus price target is set at $160.50.
• In its last earnings report, the company reported a loss of ($0.38) earnings per share, which is a significant improvement from analysts' expectations of ($2.38), although revenue was down 31.6% year-over-year.

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) fell 5.5% on Wednesday . The company traded as low as $156.43 and last traded at $155.29. 82,741 shares changed hands during trading, a decline of 75% from the average session volume of 327,648 shares. The stock had previously closed at $164.29.

Analyst Ratings Changes

A number of brokerages have weighed in on AMR. Jefferies Financial Group boosted their price target on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. Weiss Ratings reissued a "sell (d)" rating on shares of Alpha Metallurgical Resources in a research report on Wednesday, October 8th. B. Riley lowered their price target on Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating on the stock 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 analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Alpha Metallurgical Resources presently has an average rating of "Hold" and a consensus price target of $160.50.

Alpha Metallurgical Resources Stock Down 7.1%

The company has a market cap of $1.99 billion, a P/E ratio of -53.47 and a beta of 0.94. The business has a fifty day moving average price of $153.33 and a 200-day moving average price of $130.38.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The energy company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.38) by $2.00. The company had revenue of $550.27 million during the quarter, compared to analysts' expectations 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 business's revenue was down 31.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.49 earnings per share. As a group, research analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Insider Activity at Alpha Metallurgical Resources

In related news, COO Jason E. Whitehead sold 12,004 shares of the business's stock in a transaction that occurred 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 directly owned 9,673 shares in the company, valued at approximately $1,565,478.32. The trade was a 55.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Joshua Todd Munsey sold 2,135 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $157.00, for a total value of $335,195.00. Following the completion of the sale, the chief financial officer owned 4,466 shares of the company's stock, valued at approximately $701,162. This trade represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in Alpha Metallurgical Resources by 48.9% during the third quarter. Farther Finance Advisors LLC now owns 265 shares of the energy company's stock valued at $43,000 after purchasing an additional 87 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Alpha Metallurgical Resources by 29.9% during the third quarter. Exchange Traded Concepts LLC now owns 16,016 shares of the energy company's stock worth $2,628,000 after buying an additional 3,691 shares in the last quarter. Financial Enhancement Group LLC acquired a new position in shares of Alpha Metallurgical Resources during the third quarter worth $1,715,000. GAMMA Investing LLC increased its holdings in shares of Alpha Metallurgical Resources by 26.5% during the third quarter. GAMMA Investing LLC now owns 391 shares of the energy company's stock worth $64,000 after buying an additional 82 shares in the last quarter. Finally, Osaic Holdings Inc. increased its holdings in shares of Alpha Metallurgical Resources by 238,510.0% during the second quarter. Osaic Holdings Inc. now owns 23,861 shares of the energy company's stock worth $2,684,000 after buying an additional 23,851 shares in the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

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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