Alpha Metallurgical Resources (NYSE:AMR) Reaches New 12-Month Low – Here’s What Happened

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) reached a new 52-week low during trading on Tuesday . The company traded as low as $123.57 and last traded at $126.97, with a volume of 55336 shares changing hands. The stock had previously closed at $126.74.

Alpha Metallurgical Resources Price Performance

The firm’s fifty day simple moving average is $168.77 and its 200 day simple moving average is $202.27. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 4.65 and a beta of 1.50.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings data on Friday, February 28th. The energy company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The business had revenue of $617.30 million during the quarter, compared to analysts’ expectations of $658.20 million. Alpha Metallurgical Resources had a return on equity of 22.65% and a net margin of 11.08%. The firm’s revenue was down 35.7% on a year-over-year basis. During the same period in the prior year, the company posted $12.88 earnings per share. Equities research analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several institutional investors and hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its position in Alpha Metallurgical Resources by 41.8% during the third quarter. Janney Montgomery Scott LLC now owns 3,181 shares of the energy company’s stock valued at $751,000 after purchasing an additional 937 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Alpha Metallurgical Resources during the 3rd quarter valued at about $203,000. Victory Capital Management Inc. grew its stake in shares of Alpha Metallurgical Resources by 22.4% in the 3rd quarter. Victory Capital Management Inc. now owns 15,441 shares of the energy company’s stock valued at $3,647,000 after buying an additional 2,823 shares in the last quarter. Quest Partners LLC acquired a new position in Alpha Metallurgical Resources in the third quarter worth approximately $116,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Alpha Metallurgical Resources during the third quarter valued at approximately $501,000. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

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.