Alpha Metallurgical Resources (NYSE:AMR) Trading 5% Higher - What's Next?

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) was up 5% during trading on Friday . The stock traded as high as $106.00 and last traded at $104.79. Approximately 222,032 shares changed hands during trading, a decline of 10% from the average daily volume of 247,563 shares. The stock had previously closed at $99.77.

Analyst Upgrades and Downgrades

AMR has been the topic of a number of research analyst reports. B. Riley dropped their price target on 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. Wall Street Zen lowered shares of Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Alpha Metallurgical Resources Stock Performance

The stock has a market cap of $1.36 billion, a PE ratio of 51.78 and a beta of 0.68. The company has a 50 day moving average of $117.34 and a two-hundred day moving average of $148.24.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted 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). The business had revenue of $531.96 million during the quarter, compared to analysts' expectations of $586.15 million. Alpha Metallurgical Resources had a net margin of 1.01% and a return on equity of 1.62%. The firm's quarterly revenue was down 38.4% compared to the same quarter last year. During the same quarter last year, the firm earned $9.59 earnings per share. As a group, equities research analysts anticipate that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of large investors have recently added to or reduced their stakes in AMR. Voya Investment Management LLC grew its position in shares of Alpha Metallurgical Resources by 6.9% in the first quarter. Voya Investment Management LLC now owns 4,427 shares of the energy company's stock valued at $554,000 after purchasing an additional 286 shares during the period. Strs Ohio purchased a new stake in Alpha Metallurgical Resources during the 1st quarter worth approximately $589,000. Intech Investment Management LLC raised its holdings in shares of Alpha Metallurgical Resources by 48.3% during the first quarter. Intech Investment Management LLC now owns 13,149 shares of the energy company's stock valued at $1,647,000 after acquiring an additional 4,281 shares during the last quarter. Bayforest Capital Ltd lifted its position in shares of Alpha Metallurgical Resources by 290.2% in the first quarter. Bayforest Capital Ltd now owns 10,308 shares of the energy company's stock valued at $1,291,000 after acquiring an additional 7,666 shares in the last quarter. Finally, Caxton Associates LLP acquired a new stake in shares of Alpha Metallurgical Resources in the first quarter worth approximately $450,000. 84.29% of the stock is currently owned by institutional investors and hedge funds.

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.