Alpha Metallurgical Resources, Inc. (NYSE:AMR) Short Interest Update

Alpha Metallurgical Resources, Inc. (NYSE:AMR) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,090,000 shares, a growth of 5.8% from the August 15th total of 1,030,000 shares. Currently, 10.0% of the company’s shares are short sold. Based on an average daily trading volume, of 213,300 shares, the days-to-cover ratio is currently 5.1 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a report on Tuesday, August 6th. B. Riley cut their price objective on shares of Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating on the stock in a report on Friday, September 6th.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in Alpha Metallurgical Resources by 523.6% in the fourth quarter. Principal Financial Group Inc. now owns 75,966 shares of the energy company’s stock worth $25,746,000 after acquiring an additional 63,784 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Alpha Metallurgical Resources by 19.3% during the 1st quarter. Janus Henderson Group PLC now owns 27,174 shares of the energy company’s stock worth $8,998,000 after purchasing an additional 4,387 shares during the period. Norges Bank purchased a new position in shares of Alpha Metallurgical Resources during the 4th quarter worth about $21,900,000. Wellington Management Group LLP lifted its holdings in Alpha Metallurgical Resources by 5.8% during the 4th quarter. Wellington Management Group LLP now owns 50,053 shares of the energy company’s stock valued at $16,964,000 after buying an additional 2,754 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Alpha Metallurgical Resources during the 4th quarter valued at about $1,051,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Alpha Metallurgical Resources Stock Performance

Shares of NYSE:AMR traded down $3.90 during trading on Tuesday, reaching $205.62. 171,225 shares of the stock traded hands, compared to its average volume of 222,491. The stock has a 50-day moving average of $253.93 and a two-hundred day moving average of $293.68. Alpha Metallurgical Resources has a 52-week low of $185.00 and a 52-week high of $452.00. The stock has a market cap of $2.68 billion, a P/E ratio of 4.98 and a beta of 1.30.

Alpha Metallurgical Resources (NYSE:AMR) last posted its quarterly earnings results on Monday, August 5th. The energy company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.46 by $0.03. Alpha Metallurgical Resources had a net margin of 13.52% and a return on equity of 28.63%. The firm had revenue of $804.00 million for the quarter, compared to analysts’ expectations of $733.05 million. During the same quarter in the prior year, the company posted $12.16 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. Sell-side analysts expect that Alpha Metallurgical Resources will post 20.67 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.