Alpha Metallurgical Resources (NYSE:AMR) Sets New 52-Week Low – Here’s Why

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

Alpha Metallurgical Resources Trading Down 2.7 %

The stock has a 50 day moving average price of $166.38 and a 200-day moving average price of $200.98. The stock has a market capitalization of $1.65 billion, a PE ratio of 4.64 and a beta of 1.50.

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

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of hedge funds have recently added to or reduced their stakes in AMR. Empowered Funds LLC boosted its position in Alpha Metallurgical Resources by 69.7% during the 4th quarter. Empowered Funds LLC now owns 12,139 shares of the energy company’s stock valued at $2,429,000 after acquiring an additional 4,985 shares in the last quarter. Ruffer LLP purchased a new stake in shares of Alpha Metallurgical Resources during the fourth quarter valued at $4,100,000. Barclays PLC increased its holdings in Alpha Metallurgical Resources by 309.2% in the 3rd quarter. Barclays PLC now owns 18,646 shares of the energy company’s stock worth $4,402,000 after buying an additional 14,089 shares during the period. Proficio Capital Partners LLC acquired a new stake in Alpha Metallurgical Resources during the 4th quarter valued at approximately $3,564,000. Finally, Victory Capital Management Inc. increased its stake in shares of Alpha Metallurgical Resources by 22.4% in the third quarter. Victory Capital Management Inc. now owns 15,441 shares of the energy company’s stock worth $3,647,000 after acquiring an additional 2,823 shares during the period. 84.29% of the stock is currently owned by 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.