Alpha Metallurgical Resources (NYSE:AMR) Reaches New 52-Week Low – Here’s What Happened

Alpha Metallurgical Resources, Inc. (NYSE:AMR) shares hit a new 52-week low on Friday . The company traded as low as $185.00 and last traded at $186.45, with a volume of 18563 shares. The stock had previously closed at $187.42.

Analysts Set New Price Targets

Separately, Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Monday, November 4th.

Alpha Metallurgical Resources Price Performance

The stock has a 50 day moving average price of $222.39 and a 200-day moving average price of $238.14. The stock has a market capitalization of $2.30 billion, a P/E ratio of 6.48 and a beta of 1.48.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings results 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). Alpha Metallurgical Resources had a return on equity of 22.65% and a net margin of 11.08%. The company had revenue of $671.90 million for the quarter, compared to the consensus estimate of $672.95 million. During the same quarter in the previous year, the business earned $6.65 earnings per share. Alpha Metallurgical Resources’s revenue was down 9.4% compared to the same quarter last year. Research analysts predict that Alpha Metallurgical Resources, Inc. will post 16.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis sold 10,621 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $228.73, for a total transaction of $2,429,341.33. Following the completion of the sale, the director now owns 603,342 shares of the company’s stock, valued at $138,002,415.66. This represents a 1.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 15.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Hedge funds have recently modified their holdings of the company. Federated Hermes Inc. bought a new stake in shares of Alpha Metallurgical Resources in the second quarter worth about $25,000. GAMMA Investing LLC raised its position in Alpha Metallurgical Resources by 124.6% during the 3rd quarter. GAMMA Investing LLC now owns 137 shares of the energy company’s stock valued at $32,000 after purchasing an additional 76 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Alpha Metallurgical Resources in the 3rd quarter worth approximately $36,000. Sound Income Strategies LLC bought a new stake in shares of Alpha Metallurgical Resources in the 3rd quarter worth approximately $40,000. Finally, Quest Partners LLC purchased a new position in shares of Alpha Metallurgical Resources during the third quarter valued at approximately $116,000. 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.