Short Interest in Alpha Metallurgical Resources, Inc. (NYSE:AMR) Decreases By 6.9%

Alpha Metallurgical Resources, Inc. (NYSE:AMR) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 931,500 shares, a decrease of 6.9% from the October 15th total of 1,000,000 shares. Based on an average daily volume of 221,800 shares, the days-to-cover ratio is presently 4.2 days. Approximately 8.6% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMR. B. Riley cut their price objective on Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday, November 4th.

Alpha Metallurgical Resources Trading Up 3.2 %

AMR stock opened at $242.72 on Tuesday. Alpha Metallurgical Resources has a 12-month low of $185.00 and a 12-month high of $452.00. The business’s 50-day moving average is $218.68 and its 200 day moving average is $260.68. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 8.91 and a beta of 1.33.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings data on Friday, November 1st. The energy company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($1.31). The business had revenue of $671.90 million for the quarter, compared to analysts’ expectations of $672.95 million. Alpha Metallurgical Resources had a net margin of 11.08% and a return on equity of 22.65%. The firm’s revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $6.65 EPS. As a group, equities analysts forecast that Alpha Metallurgical Resources will post 16.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMR. SG Americas Securities LLC purchased a new position in Alpha Metallurgical Resources during the first quarter worth about $356,000. Russell Investments Group Ltd. lifted its holdings in Alpha Metallurgical Resources by 15.8% in the first quarter. Russell Investments Group Ltd. now owns 5,549 shares of the energy company’s stock valued at $1,838,000 after acquiring an additional 757 shares during the last quarter. ProShare Advisors LLC grew its position in Alpha Metallurgical Resources by 7.4% in the first quarter. ProShare Advisors LLC now owns 2,336 shares of the energy company’s stock worth $774,000 after acquiring an additional 160 shares during the period. Vanguard Group Inc. increased its stake in Alpha Metallurgical Resources by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,224,801 shares of the energy company’s stock worth $405,617,000 after acquiring an additional 11,217 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Alpha Metallurgical Resources during the first quarter worth $677,000. Hedge funds and other institutional investors 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.