Alpha Metallurgical Resources (NYSE:AMR) Stock Price Down 2.7% Following Analyst Downgrade

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s stock price was down 2.7% on Monday after B. Riley lowered their price target on the stock from $272.00 to $183.00. B. Riley currently has a buy rating on the stock. Alpha Metallurgical Resources traded as low as $114.89 and last traded at $115.44. Approximately 60,329 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 297,123 shares. The stock had previously closed at $118.67.

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of hedge funds and other institutional investors have recently modified their holdings of AMR. Summit Investment Advisors Inc. lifted its position in Alpha Metallurgical Resources by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,150 shares of the energy company’s stock valued at $230,000 after acquiring an additional 73 shares during the last quarter. Bank of Montreal Can grew its holdings in Alpha Metallurgical Resources by 6.0% in the fourth quarter. Bank of Montreal Can now owns 1,318 shares of the energy company’s stock worth $264,000 after purchasing an additional 75 shares during the last quarter. X Square Capital LLC increased its position in shares of Alpha Metallurgical Resources by 2.9% during the fourth quarter. X Square Capital LLC now owns 3,005 shares of the energy company’s stock worth $601,000 after purchasing an additional 84 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Alpha Metallurgical Resources by 0.5% during the 4th quarter. Swiss National Bank now owns 21,700 shares of the energy company’s stock valued at $4,343,000 after purchasing an additional 100 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its position in shares of Alpha Metallurgical Resources by 214.3% in the 1st quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company’s stock worth $28,000 after purchasing an additional 150 shares in the last quarter. 84.29% of the stock is currently owned by institutional investors.

Alpha Metallurgical Resources Stock Performance

The company has a 50 day moving average of $138.97 and a two-hundred day moving average of $188.21. The stock has a market capitalization of $1.52 billion, a PE ratio of 4.26 and a beta of 1.08.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Friday, February 28th. The energy company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.09). Alpha Metallurgical Resources had a return on equity of 22.65% and a net margin of 11.08%. The business had revenue of $617.30 million during the quarter, compared to analyst estimates of $658.20 million. During the same period in the prior year, the business posted $12.88 EPS. Alpha Metallurgical Resources’s revenue was down 35.7% compared to the same quarter last year. As a group, research analysts predict that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current fiscal year.

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.