Alpha Metallurgical Resources (NYSE:AMR) Stock Price Down 6.5% – What’s Next?

Alpha Metallurgical Resources, Inc. (NYSE:AMR) shares fell 6.5% on Thursday. The stock traded as low as $168.51 and last traded at $168.73. Approximately 97,357 shares traded hands during trading, a decline of 66% from the average session volume of 289,468 shares. The stock had previously closed at $180.40.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AMR shares. Weiss Ratings lowered shares of Alpha Metallurgical Resources from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Zacks Research downgraded Alpha Metallurgical Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 27th. UBS Group started coverage on Alpha Metallurgical Resources in a report on Friday, July 10th. They issued a “neutral” rating and a $165.00 target price for the company. Jefferies Financial Group restated a “hold” rating and issued a $160.00 price target on shares of Alpha Metallurgical Resources in a research note on Tuesday, July 21st. Finally, Wall Street Zen downgraded Alpha Metallurgical Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Alpha Metallurgical Resources has an average rating of “Reduce” and a consensus price target of $176.00.

Alpha Metallurgical Resources Stock Performance

The business’s fifty day moving average price is $181.15 and its 200-day moving average price is $184.95. The stock has a market cap of $2.21 billion, a PE ratio of -48.77 and a beta of 0.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 3.41.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings data on Friday, August 7th. The energy company reported ($0.96) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.01. The firm had revenue of $421.29 million during the quarter, compared to analysts’ expectations of $521.61 million. Alpha Metallurgical Resources had a negative net margin of 2.23% and a negative return on equity of 2.99%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.38) earnings per share. As a group, equities research analysts forecast that Alpha Metallurgical Resources, Inc. will post -2.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kenneth Courtis bought 10,000 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was acquired at an average price of $225.83 per share, with a total value of $2,258,300.00. Following the transaction, the director owned 1,035,394 shares in the company, valued at approximately $233,823,027.02. This trade represents a 0.98% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have purchased 35,000 shares of company stock valued at $7,388,400. Insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Alpha Metallurgical Resources in the second quarter worth $299,230,000. Dimensional Fund Advisors LP lifted its holdings in Alpha Metallurgical Resources by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 721,872 shares of the energy company’s stock valued at $148,192,000 after acquiring an additional 38,300 shares during the period. Dalal Street LLC lifted its holdings in Alpha Metallurgical Resources by 2.1% in the fourth quarter. Dalal Street LLC now owns 543,000 shares of the energy company’s stock valued at $108,535,000 after acquiring an additional 11,000 shares during the period. Crocodile Capital Partners GmbH lifted its holdings in Alpha Metallurgical Resources by 0.4% in the second quarter. Crocodile Capital Partners GmbH now owns 245,119 shares of the energy company’s stock valued at $40,430,000 after acquiring an additional 1,000 shares during the period. Finally, Goehring & Rozencwajg Associates LLC boosted its position in Alpha Metallurgical Resources by 206.8% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 242,039 shares of the energy company’s stock worth $49,683,000 after purchasing an additional 163,144 shares during the last quarter. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc is a mining company that produces and markets metallurgical coal, a key raw material used in steelmaking. Its products include premium and high-volatility metallurgical coal, as well as thermal coal, which is used primarily for electricity generation.

The company operates underground and surface mines and related processing facilities in Central Appalachia, principally in Virginia and West Virginia. Alpha sells its coal to domestic and international steel producers, coke manufacturers, and other industrial customers, serving markets in North America, Asia, Europe, and elsewhere.

Alpha Metallurgical Resources was formed from the restructuring of the former Alpha Natural Resources business and operated as Contura Energy before adopting its current name in 2021.