Alpha Metallurgical Resources (NYSE:AMR) Trading Down 3.5% – Should You Sell?

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s stock price was down 3.5% on Friday . The company traded as low as $243.00 and last traded at $243.00. Approximately 109,985 shares were traded during trading, a decline of 49% from the average daily volume of 217,138 shares. The stock had previously closed at $251.73.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AMR shares. Benchmark reiterated a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Monday, November 4th. B. Riley reduced their target price on shares of Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating for the company in a research note on Friday, September 6th.

Alpha Metallurgical Resources Trading Down 2.5 %

The company has a market cap of $3.20 billion, a price-to-earnings ratio of 9.01 and a beta of 1.33. The company’s 50 day moving average price is $223.45 and its 200 day moving average price is $258.95.

Alpha Metallurgical Resources (NYSE:AMR) last released its earnings results on Friday, November 1st. The energy company reported $0.29 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 firm had revenue of $671.90 million during the quarter, compared to analyst estimates of $672.95 million. During the same quarter last year, the business posted $6.65 EPS. The firm’s revenue was down 9.4% on a year-over-year basis. Sell-side analysts predict that Alpha Metallurgical Resources, Inc. will post 16.87 earnings per share for the current year.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Large investors have recently made changes to their positions in the stock. Federated Hermes Inc. purchased a new position in shares of Alpha Metallurgical Resources in the 2nd quarter valued at about $25,000. GAMMA Investing LLC increased its holdings in shares of Alpha Metallurgical Resources by 124.6% in 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 in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Alpha Metallurgical Resources in the 3rd quarter valued at about $36,000. Sound Income Strategies LLC purchased a new position in Alpha Metallurgical Resources during the 3rd quarter valued at about $40,000. Finally, Quest Partners LLC purchased a new position in Alpha Metallurgical Resources during the 3rd quarter valued at about $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.