Alpha Metallurgical Resources (NYSE:AMR) Shares Up 3%

Alpha Metallurgical Resources, Inc. (NYSE:AMR) shares traded up 3% during trading on Tuesday . The company traded as high as $230.28 and last traded at $228.97. 28,037 shares were traded during trading, a decline of 87% from the average session volume of 220,081 shares. The stock had previously closed at $222.24.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. B. Riley upped their target price on Alpha Metallurgical Resources from $374.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Tuesday, August 6th.

Alpha Metallurgical Resources Stock Up 4.9 %

The company has a market cap of $3.03 billion, a P/E ratio of 5.38 and a beta of 1.36. The firm has a 50 day moving average of $281.27 and a 200-day moving average of $313.00.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings data on Monday, August 5th. The energy company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.03. Alpha Metallurgical Resources had a return on equity of 36.77% and a net margin of 16.89%. The company 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 firm earned $12.16 earnings per share. Alpha Metallurgical Resources’s revenue was down 6.3% compared to the same quarter last year. On average, research analysts predict that Alpha Metallurgical Resources, Inc. will post 28.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. lifted its holdings in Alpha Metallurgical Resources by 22.2% during the second quarter. Pacer Advisors Inc. now owns 613,208 shares of the energy company’s stock worth $172,023,000 after buying an additional 111,504 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in Alpha Metallurgical Resources during the first quarter worth $32,999,000. Norges Bank purchased a new stake in Alpha Metallurgical Resources during the fourth quarter worth $21,900,000. Principal Financial Group Inc. lifted its holdings in Alpha Metallurgical Resources by 523.6% during the fourth quarter. Principal Financial Group Inc. now owns 75,966 shares of the energy company’s stock worth $25,746,000 after buying an additional 63,784 shares during the period. Finally, Gendell Jeffrey L lifted its holdings in Alpha Metallurgical Resources by 21.8% during the first quarter. Gendell Jeffrey L now owns 350,125 shares of the energy company’s stock worth $115,951,000 after buying an additional 62,725 shares during the period. Institutional investors own 84.29% of the company’s stock.

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.