Alpha Metallurgical Resources (NYSE:AMR) Shares Up 8.1%

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s stock price rose 8.1% during mid-day trading on Tuesday . The stock traded as high as $233.13 and last traded at $230.33. Approximately 29,767 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 225,331 shares. The stock had previously closed at $213.00.

Analyst Upgrades and Downgrades

AMR has been the topic of several research analyst reports. B. Riley dropped their price objective on Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Tuesday, August 6th.

Alpha Metallurgical Resources Stock Performance

The company has a market cap of $2.98 billion, a price-to-earnings ratio of 5.58 and a beta of 1.30. The company has a fifty day moving average of $245.74 and a two-hundred day moving average of $288.87.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings data on Monday, August 5th. The energy company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.03. Alpha Metallurgical Resources had a return on equity of 28.63% and a net margin of 13.52%. The company had revenue of $804.00 million for the quarter, compared to the consensus estimate of $733.05 million. During the same quarter last year, the business posted $12.16 EPS. Alpha Metallurgical Resources’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities analysts expect that Alpha Metallurgical Resources, Inc. will post 20.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMR. Pacer Advisors Inc. raised its position in Alpha Metallurgical Resources by 22.2% during the 2nd quarter. Pacer Advisors Inc. now owns 613,208 shares of the energy company’s stock worth $172,023,000 after purchasing an additional 111,504 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Alpha Metallurgical Resources during the 1st quarter worth $32,999,000. Norges Bank bought a new position in Alpha Metallurgical Resources during the 4th quarter worth $21,900,000. Gendell Jeffrey L raised its position in Alpha Metallurgical Resources by 21.8% during the 1st quarter. Gendell Jeffrey L now owns 350,125 shares of the energy company’s stock worth $115,951,000 after purchasing an additional 62,725 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Alpha Metallurgical Resources by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 1,213,584 shares of the energy company’s stock worth $411,308,000 after purchasing an additional 61,915 shares during the last quarter. 84.29% of the stock is owned by institutional investors.

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.