Alpha Metallurgical Resources (NYSE:AMR) Trading 6.5% Higher

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s share price shot up 6.5% during trading on Thursday . The company traded as high as $208.47 and last traded at $205.50. 98,198 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 220,844 shares. The stock had previously closed at $192.88.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. B. Riley reduced their price target on shares of Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Tuesday, August 6th.

Alpha Metallurgical Resources Stock Up 7.0 %

The firm has a market cap of $2.69 billion, a P/E ratio of 4.96 and a beta of 1.30. The company’s 50 day simple moving average is $262.06 and its 200-day simple moving average is $299.87.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings results on Monday, August 5th. The energy company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $0.03. The business had revenue of $804.00 million during the quarter, compared to analysts’ expectations of $733.05 million. Alpha Metallurgical Resources had a net margin of 13.52% and a return on equity of 28.63%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company posted $12.16 earnings per share. Equities research analysts predict that Alpha Metallurgical Resources, Inc. will post 26.33 EPS for the current year.

Institutional Investors Weigh In On Alpha Metallurgical Resources

A number of institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in shares of Alpha Metallurgical Resources by 132.6% in the 4th quarter. Russell Investments Group Ltd. now owns 4,792 shares of the energy company’s stock valued at $1,624,000 after buying an additional 2,732 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Alpha Metallurgical Resources by 523.6% during the 4th quarter. Principal Financial Group Inc. now owns 75,966 shares of the energy company’s stock valued at $25,746,000 after purchasing an additional 63,784 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Alpha Metallurgical Resources by 10.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 2,172 shares of the energy company’s stock valued at $736,000 after purchasing an additional 202 shares during the period. Baader Bank Aktiengesellschaft purchased a new stake in Alpha Metallurgical Resources during the fourth quarter worth $339,000. Finally, Quadrant Capital Group LLC acquired a new stake in Alpha Metallurgical Resources during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

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.