Alpha Metallurgical Resources (NYSE:AMR) Trading Down 3.3% on Analyst Downgrade

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) traded down 3.3% during mid-day trading on Friday after B. Riley lowered their price target on the stock from $374.00 to $336.00. B. Riley currently has a buy rating on the stock. Alpha Metallurgical Resources traded as low as $193.00 and last traded at $196.88. 50,371 shares changed hands during trading, a decline of 77% from the average session volume of 219,929 shares. The stock had previously closed at $203.51.

Separately, Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Tuesday, August 6th.

Institutional Investors Weigh In On Alpha Metallurgical Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of AMR. Federated Hermes Inc. purchased a new position in Alpha Metallurgical Resources in the second quarter worth $25,000. Quadrant Capital Group LLC bought a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at about $35,000. Creekmur Asset Management LLC bought a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at about $36,000. PNC Financial Services Group Inc. raised its stake in shares of Alpha Metallurgical Resources by 947.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 178 shares of the energy company’s stock valued at $60,000 after acquiring an additional 161 shares during the last quarter. Finally, FinTrust Capital Advisors LLC bought a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at about $64,000. Institutional investors own 84.29% of the company’s stock.

Alpha Metallurgical Resources Price Performance

The stock has a market capitalization of $2.56 billion, a P/E ratio of 4.77 and a beta of 1.30. The firm’s 50 day moving average price is $271.74 and its 200 day moving average price is $305.56.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings data on Monday, August 5th. The energy company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.46 by $0.03. The firm had revenue of $804.00 million during the quarter, compared to the consensus estimate of $733.05 million. Alpha Metallurgical Resources had a net margin of 13.52% and a return on equity of 28.63%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $12.16 earnings per share. On average, equities research analysts forecast that Alpha Metallurgical Resources, Inc. will post 26.33 earnings per share for the current year.

Alpha Metallurgical Resources Company Profile

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.