Alpha Metallurgical Resources (NYSE:AMR) Trading 7% Higher - Here's What Happened

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report)'s stock price was up 7% during trading on Thursday . The company traded as high as $119.80 and last traded at $116.84. Approximately 108,549 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 254,879 shares. The stock had previously closed at $109.21.

Analysts Set New Price Targets

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

The business has a 50-day simple moving average of $114.94 and a 200-day simple moving average of $139.68. The firm has a market capitalization of $1.60 billion, a PE ratio of 60.82 and a beta of 0.66.

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 (EPS) 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 quarter last year, the company earned $9.59 earnings per share. The company's revenue for the quarter was down 38.4% on a year-over-year basis. On average, research analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dalal Street LLC raised its position in Alpha Metallurgical Resources by 1.6% during the fourth 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 period. GAMMA Investing LLC grew its stake in shares of Alpha Metallurgical Resources by 11,100.3% during the first quarter. GAMMA Investing LLC now owns 34,945 shares of the energy company's stock valued at $4,377,000 after buying an additional 34,633 shares during the last quarter. Sei Investments Co. grew its stake in shares of Alpha Metallurgical Resources by 36.8% during the fourth quarter. Sei Investments Co. now owns 10,786 shares of the energy company's stock valued at $2,158,000 after buying an additional 2,903 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Alpha Metallurgical Resources by 204.5% during the first quarter. SG Americas Securities LLC now owns 8,376 shares of the energy company's stock valued at $1,049,000 after buying an additional 5,625 shares during the last quarter. Finally, Mutual Advisors LLC bought a new position in shares of Alpha Metallurgical Resources during the first quarter valued at approximately $603,000. 84.29% of the stock is currently owned by hedge funds and other 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.