Alpha Metallurgical Resources (NYSE:AMR) Shares Down 7.9% - Time to Sell?

Key Points

• Alpha Metallurgical Resources (NYSE:AMR) experienced a significant stock decline of 7.9%, trading at $123.76, which is a decline from its previous close of $134.31 with trading volumes down 59% from the average.
• Analyst ratings for AMR have fluctuated, with Wall Street Zen downgrading the stock to a "sell" and B. Riley lowering its price target from $181.00 to $173.00, while Jefferies Financial Group initiated coverage with a "hold" rating and a price target of $110.00.
• The company reported a loss of $2.60 EPS for its latest quarter, significantly underperforming against the consensus estimate while also seeing a 38.4% year-over-year revenue decline to $531.96 million.

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report)'s share price was down 7.9% during trading on Monday . The company traded as low as $124.31 and last traded at $123.76. Approximately 129,905 shares were traded during trading, a decline of 59% from the average daily volume of 318,660 shares. The stock had previously closed at $134.31.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AMR shares. Wall Street Zen cut Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. B. Riley decreased their price objective on Alpha Metallurgical Resources from $181.00 to $173.00 and set a "buy" rating for the company in a research note on Tuesday, July 22nd. Finally, Jefferies Financial Group started coverage on Alpha Metallurgical Resources in a research note on Tuesday, July 1st. They set a "hold" rating and a $110.00 price objective for the company.

Alpha Metallurgical Resources Stock Performance

The firm's fifty day simple moving average is $115.78 and its 200 day simple moving average is $133.85. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 56.71 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 the consensus estimate of ($1.06) by ($1.54). The company had revenue of $531.96 million for the quarter, compared to the consensus estimate of $586.15 million. Alpha Metallurgical Resources had a return on equity of 1.62% and a net margin of 1.01%. The firm's revenue was down 38.4% on a year-over-year basis. During the same period in the prior year, the company earned $9.59 EPS. Analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. acquired a new position in shares of Alpha Metallurgical Resources during the second quarter worth about $391,000. First Citizens Bank & Trust Co. acquired a new position in shares of Alpha Metallurgical Resources during the second quarter worth about $481,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Alpha Metallurgical Resources during the second quarter worth about $531,000. Stratos Wealth Advisors LLC boosted its position in shares of Alpha Metallurgical Resources by 49.0% during the second quarter. Stratos Wealth Advisors LLC now owns 15,966 shares of the energy company's stock worth $1,796,000 after buying an additional 5,247 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in shares of Alpha Metallurgical Resources by 495.1% during the second quarter. Allianz Asset Management GmbH now owns 11,307 shares of the energy company's stock worth $1,272,000 after buying an additional 9,407 shares during the period. 84.29% of the stock is 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.