Alpha Metallurgical Resources (NYSE:AMR) Stock Price Up 7% - Here's What Happened

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) were up 7% during mid-day trading on Thursday . The stock traded as high as $119.80 and last traded at $116.84. Approximately 108,549 shares were traded during 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

Several research analysts recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Alpha Metallurgical Resources in a research report on Tuesday, July 1st. They set a "hold" rating and a $110.00 price target for the company. Wall Street Zen cut shares of Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, B. Riley cut their price target on shares of Alpha Metallurgical Resources from $183.00 to $181.00 and set a "buy" rating on the stock in a research note on Thursday, May 15th.

Alpha Metallurgical Resources Price Performance

The stock has a market cap of $1.53 billion, a P/E ratio of 58.09 and a beta of 0.66. The company has a fifty day moving average of $115.34 and a 200 day moving average of $141.83.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The energy company reported ($2.60) 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 analyst estimates of $586.15 million. During the same period in the prior year, the company posted $9.59 EPS. The firm's quarterly revenue was down 38.4% on a year-over-year basis. As a group, analysts anticipate that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Institutional Trading of Alpha Metallurgical Resources

A number of institutional investors have recently bought and sold shares of the business. Signaturefd LLC grew its holdings in Alpha Metallurgical Resources by 306.1% during the 1st quarter. Signaturefd LLC now owns 199 shares of the energy company's stock worth $25,000 after acquiring an additional 150 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Alpha Metallurgical Resources in the fourth quarter worth about $40,000. AdvisorNet Financial Inc boosted its position in shares of Alpha Metallurgical Resources by 214.3% in the first quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company's stock valued at $28,000 after acquiring an additional 150 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Alpha Metallurgical Resources by 127.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 289 shares of the energy company's stock valued at $58,000 after acquiring an additional 162 shares during the period. Finally, Summit Securities Group LLC bought a new stake in Alpha Metallurgical Resources during the first quarter valued at approximately $38,000. Institutional investors own 84.29% of the company's stock.

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.

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.