Tearsheet

Alpha Metallurgical Resources (AMR)


Market Price (6/27/2026): $165.155 | Market Cap: $2.1 BilSector: Materials | Industry: Steel

Alpha Metallurgical Resources (AMR)


Market Price (6/27/2026): $165.155
Market Cap: $2.1 Bil
Sector: Materials
Industry: Steel

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17%

Megatrend and thematic drivers
Megatrends include Industrial & Infrastructure Development. Themes include Steel Industry Raw Materials, Heavy Industrial Materials, and Global Infrastructure Build-out.

Weak multi-year price returns
2Y Excs Rtn is -77%, 3Y Excs Rtn is -70%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -32 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.5%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -19%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -19%, Rev Chg QQuarterly Revenue Change % is -1.3%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.1%

Key risks
AMR key risks include [1] acute earnings vulnerability to volatile metallurgical coal pricing, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17%
1 Megatrend and thematic drivers
Megatrends include Industrial & Infrastructure Development. Themes include Steel Industry Raw Materials, Heavy Industrial Materials, and Global Infrastructure Build-out.
2 Weak multi-year price returns
2Y Excs Rtn is -77%, 3Y Excs Rtn is -70%
3 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -32 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.5%
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -19%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -19%, Rev Chg QQuarterly Revenue Change % is -1.3%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.1%
7 Key risks
AMR key risks include [1] acute earnings vulnerability to volatile metallurgical coal pricing, Show more.

AMR in ETFs

Weight = AMR's share of each fund

VTI0.00%
ITOT0.00%
IWM0.05%
IJR0.12%
VB0.03%
VIOV0.25%
SLYV0.24%
IJS0.24%
+12 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/23/2026

Alpha Metallurgical Resources (AMR) stock has remained largely at the same level since 2/28/2026 because of the following key factors:

1. Mixed Fiscal Q1 2026 Performance with Reassuring Outlook. Alpha Metallurgical Resources reported a net loss of $11.0 million, or -$0.86 per diluted share, for fiscal Q1 2026 (ending March 31, 2026), missing analyst estimates of $0.91. Revenue also fell short at $524.99 million against expectations of $543.92 million. Despite these misses, the stock experienced an atypical rise of 4.65% or 6.36% following the earnings release, suggesting the market had anticipated worse outcomes or found reassurance in other aspects of the report. Notably, Adjusted EBITDA increased to $30.0 million from $28.5 million in the prior quarter, and management maintained full-year cost guidance of $95-$101 per ton, projecting stronger operational performance in subsequent quarters.

2. Robust Share Repurchase Program. The company's ongoing share repurchase program provided significant underlying support for the stock price. As of April 30, 2026, Alpha Metallurgical Resources had repurchased approximately 7.0 million shares for roughly $1.2 billion, at an average cost of about $166.18 per share, under a program authorizing up to $1.5 billion in repurchases. In fiscal Q1 2026 alone, approximately $17.5 million was spent to repurchase around 87,000 shares.

Show more
Updated on 6/23/2026

Alpha Metallurgical Resources (AMR) stock has remained largely at the same level since 2/28/2026 because of the following key factors:

1. Mixed Fiscal Q1 2026 Performance with Reassuring Outlook. Alpha Metallurgical Resources reported a net loss of $11.0 million, or -$0.86 per diluted share, for fiscal Q1 2026 (ending March 31, 2026), missing analyst estimates of $0.91. Revenue also fell short at $524.99 million against expectations of $543.92 million. Despite these misses, the stock experienced an atypical rise of 4.65% or 6.36% following the earnings release, suggesting the market had anticipated worse outcomes or found reassurance in other aspects of the report. Notably, Adjusted EBITDA increased to $30.0 million from $28.5 million in the prior quarter, and management maintained full-year cost guidance of $95-$101 per ton, projecting stronger operational performance in subsequent quarters.

2. Robust Share Repurchase Program. The company's ongoing share repurchase program provided significant underlying support for the stock price. As of April 30, 2026, Alpha Metallurgical Resources had repurchased approximately 7.0 million shares for roughly $1.2 billion, at an average cost of about $166.18 per share, under a program authorizing up to $1.5 billion in repurchases. In fiscal Q1 2026 alone, approximately $17.5 million was spent to repurchase around 87,000 shares.

3. Challenging Global Metallurgical Coal and Steel Market Dynamics. The global steel demand outlook remained fragile in 2026, with projections for only 0.3% to 0.4% growth. This sluggish demand, particularly a projected decline of 0.6% to 1.5% in China's steel demand due to its persistent property sector downturn, acted as a significant headwind for metallurgical coal prices. While India and North America showed some growth, overall metallurgical coal prices faced volatility. Geopolitical events, such as the Iran conflict, contributed to supply-side disruptions and increased freight and diesel costs, impacting the company's cost of coal sales. The Coal Price Index, encompassing Australian and South African coal, rose from 163.79 in February 2026 to 189.31 in April 2026, indicating some upward pressure on commodity prices.

4. Operational Headwinds and Recent Infrastructure Damage. Alpha's fiscal Q1 2026 results were negatively affected by lower volumes and higher costs, attributed to a planned month-long outage for equipment upgrades at Dominion Terminal Associates (DTA) and elevated supply expenses, particularly for diesel, exacerbated by geopolitical conflicts. Further compounding operational stability, a key stacker reclaimer machine at the DTA facility sustained significant damage from high winds on June 18, 2026. This incident disrupted coal handling operations and led Alpha to issue force majeure letters to customers, raising concerns about potential shipment delays and future earnings.

5. Significant Insider Buying. Insider transactions provided a counterbalancing positive signal. During the period, Kenneth S. Courtis, an insider, made 53 purchases totaling 118,000 shares for an estimated $21.25 million. Additionally, Michael Gorzynski made three purchases, acquiring 38,576 shares for an estimated $7.27 million. These substantial insider buys indicate confidence in the company's long-term prospects, helping to offset negative market sentiment.

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Stock Movement Drivers

Fundamental Drivers

The 1.6% change in AMR stock from 2/28/2026 to 6/26/2026 was primarily driven by a 1.4% change in the company's P/S Multiple.
(LTM values as of)22820266262026Change
Stock Price ($)162.65165.251.6%
Change Contribution By: 
Total Revenues ($ Mil)2,1292,123-0.3%
P/S Multiple1.01.01.4%
Shares Outstanding (Mil)13130.5%
Cumulative Contribution1.6%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/26/2026
ReturnCorrelation
AMR1.6% 
Market (SPY)6.6%-0.6%
Sector (XLB)-3.0%12.9%

Fundamental Drivers

The 3.8% change in AMR stock from 11/30/2025 to 6/26/2026 was primarily driven by a 7.1% change in the company's P/S Multiple.
(LTM values as of)113020256262026Change
Stock Price ($)159.21165.253.8%
Change Contribution By: 
Total Revenues ($ Mil)2,2262,123-4.7%
P/S Multiple0.91.07.1%
Shares Outstanding (Mil)13131.7%
Cumulative Contribution3.8%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/26/2026
ReturnCorrelation
AMR3.8% 
Market (SPY)7.3%5.6%
Sector (XLB)16.5%17.9%

Fundamental Drivers

The 47.5% change in AMR stock from 5/31/2025 to 6/26/2026 was primarily driven by a 79.0% change in the company's P/S Multiple.
(LTM values as of)53120256262026Change
Stock Price ($)112.04165.2547.5%
Change Contribution By: 
Total Revenues ($ Mil)2,6252,123-19.1%
P/S Multiple0.61.079.0%
Shares Outstanding (Mil)13131.9%
Cumulative Contribution47.5%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/26/2026
ReturnCorrelation
AMR47.5% 
Market (SPY)25.1%16.6%
Sector (XLB)21.9%22.2%

Fundamental Drivers

The 23.3% change in AMR stock from 5/31/2023 to 6/26/2026 was primarily driven by a 92.0% change in the company's P/S Multiple.
(LTM values as of)53120236262026Change
Stock Price ($)133.98165.2523.3%
Change Contribution By: 
Total Revenues ($ Mil)3,9412,123-46.1%
P/S Multiple0.51.092.0%
Shares Outstanding (Mil)151319.3%
Cumulative Contribution23.3%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/26/2026
ReturnCorrelation
AMR23.3% 
Market (SPY)81.3%22.2%
Sector (XLB)45.9%28.3%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
AMR Return437%150%134%-41%-0%-16%1458%
Peers Return194%52%24%5%31%-8%603%
S&P 500 Return27%-19%24%23%16%7%96%

Monthly Win Rates [3]
AMR Win Rate67%75%67%25%50%50% 
Peers Win Rate60%48%50%50%55%53% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
AMR Max Drawdown-32%-40%-26%-57%-51%-35% 
Peers Max Drawdown-35%-31%-34%-34%-44%-35% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: HCC, BTU, CNX, METC, SXC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/26/2026 (YTD)

How Low Can It Go

EventAMRS&P 500
2025 US Tariff Shock
  % Loss-33.7%-18.8%
  % Gain to Breakeven50.9%23.1%
  Time to Breakeven68 days79 days
2023 SVB Regional Banking Crisis
  % Loss-14.4%-6.7%
  % Gain to Breakeven16.8%7.1%
  Time to Breakeven15 days31 days
2020 COVID-19 Crash
  % Loss-68.4%-33.7%
  % Gain to Breakeven216.2%50.9%
  Time to Breakeven178 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-30.9%-19.2%
  % Gain to Breakeven44.8%23.8%
  Time to Breakeven11 days105 days

Compare to HCC, BTU, CNX, METC, SXC

In The Past

Alpha Metallurgical Resources's stock fell -33.7% during the 2025 US Tariff Shock. Such a loss loss requires a 50.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventAMRS&P 500
2025 US Tariff Shock
  % Loss-33.7%-18.8%
  % Gain to Breakeven50.9%23.1%
  Time to Breakeven68 days79 days
2020 COVID-19 Crash
  % Loss-68.4%-33.7%
  % Gain to Breakeven216.2%50.9%
  Time to Breakeven178 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-30.9%-19.2%
  % Gain to Breakeven44.8%23.8%
  Time to Breakeven11 days105 days

Compare to HCC, BTU, CNX, METC, SXC

In The Past

Alpha Metallurgical Resources's stock fell -33.7% during the 2025 US Tariff Shock. Such a loss loss requires a 50.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Alpha Metallurgical Resources (AMR)

Alpha Metallurgical Resources (AMR) is a U.S.-based mining company primarily engaged in the production, processing, and sale of coal. Operating mainly in Virginia and West Virginia, the company extracts coal from its active mines and prepares it for distribution using its dedicated facilities.

The company's core products include metallurgical coal, commonly known as "met coal," and thermal coal. Metallurgical coal is a crucial raw material for the steel industry, specifically used in blast furnaces to produce steel. Thermal coal serves a different primary purpose, being widely used as a fuel source for electricity generation.

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Here are 1-2 brief analogies for Alpha Metallurgical Resources (AMR):

  • Like Peabody Energy (BTU), but focused on both metallurgical and thermal coal extraction primarily in the Appalachian region.
  • Think of them as the ExxonMobil (XOM) or Chevron (CVX) of coal, extracting and selling this foundational resource for steelmaking and power generation.
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  • Met Coal (Metallurgical Coal): This type of coal is primarily used in the steelmaking process.
  • Thermal Coal: This type of coal is primarily used as a fuel for electricity generation.

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Alpha Metallurgical Resources (AMR) sells its metallurgical and thermal coal primarily to other companies, operating in business-to-business (B2B) markets.

While AMR's public filings state that a significant portion of its revenues comes from a limited number of major customers (for example, in 2023, two customers each accounted for approximately 10% or more of total revenues), the specific names of these individual customer companies are not publicly disclosed in their SEC filings or other readily available public information.

Therefore, a list of specific customer company names cannot be provided. However, based on the nature of the coal products sold, AMR's major customers operate within the following industrial sectors:

  • Global Steel Industry: Customers in this sector utilize metallurgical coal for steel production.
  • Industrial Sector: Various industrial companies use thermal coal for energy and process heat.
  • Electrical Power Generation Industry: Utilities and power producers use thermal coal as fuel for electricity generation.

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Andy Eidson, Chief Executive Officer

Andy Eidson has served as Chief Executive Officer and Director since January 2023. He previously held the roles of President (from August 2022) and President and Chief Financial Officer (since December 2020). Prior to that, he was Executive Vice President and Chief Financial Officer from July 2016 and also served as interim co-Chief Executive Officer for Contura Energy from May 2019 through July 2019. His involvement with the company and its predecessor began earlier, as he was Executive Vice President and Chief Financial Officer of Alpha Natural Resources, Inc. from March 2016, and held previous roles there including Senior Vice President of Strategy and Business Development, and Vice President of Mergers and Acquisitions. Before joining Alpha in July 2010, Mr. Eidson worked in various financial positions at PricewaterhouseCoopers LLP, Eastman Chemical Company, and Penn Virginia Resource Partners, where he managed mergers and acquisitions projects for the coal segment. He was involved with the company during its formation as Contura Energy, which arose from the assets of Alpha Natural Resources after its 2015 bankruptcy and was acquired by a consortium of lenders.

J. Todd Munsey, Executive Vice President and Chief Financial Officer

J. Todd Munsey has served as Executive Vice President and Chief Financial Officer since August 2022. He previously served as Senior Vice President and Controller from July 2016. Mr. Munsey's history with the company's lineage includes serving as Senior Vice President of Tax and Financial Reporting at Alpha Natural Resources from April 2015, and prior to that, various roles on the tax team. Before joining Alpha in July 2007, he was a Senior Tax Analyst at PricewaterhouseCoopers LLP. He was involved with the company during its transformation from Alpha Natural Resources' bankruptcy into Contura Energy (later Alpha Metallurgical Resources).

Jason E. Whitehead, President and Chief Operating Officer

Jason E. Whitehead has been the President and Chief Operating Officer of Alpha Metallurgical Resources Inc since April 2016. He also serves as President at Peerless Eagle Coal Co. LLC and Vice President-Human Resources at Maxxim Shared Services LLC. His previous roles include Chief Operating Officer & Senior Vice President of Operations at Alpha Natural Resources Holdings, Inc. from 2016 to 2018, Vice President of Underground Operations at Alpha Appalachia Holdings, Inc., and Vice President of Operations at Alpha Natural Resources, Inc.

Daniel E. Horn, Executive Vice President and Chief Commercial Officer

Daniel E. Horn has served as Executive Vice President and Chief Commercial Officer since January 2022. Before this, he was Executive Vice President of Sales for the company and President of Contura Coal Sales, LLC. Mr. Horn has over four decades of experience in the mining industry and previously held senior leadership roles within the sales departments of Contura Energy and Alpha Natural Resources, where he was responsible for domestic and seaborne metallurgical sales. Prior to joining Alpha, he led the coal and coke procurement team at Bethlehem Steel Corporation, following earlier roles in engineering and operations at Bethlehem's underground coal mines.

Mark M. Manno, Executive Vice President, General Counsel and Secretary

Mark M. Manno serves as Executive Vice President, General Counsel and Secretary. He was appointed to this role in June 2024 and is responsible for overseeing the legal, land, and safety departments of the company.

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Key Risks to Alpha Metallurgical Resources (AMR)

  1. Market Volatility and Price Sensitivity: Alpha Metallurgical Resources' financial performance is highly susceptible to fluctuations in metallurgical coal prices and global steel demand. The company experienced a net loss and declining revenue in the third quarter of 2025 due to a significant drop in pricing and volume, leading to lowered shipment guidance for metallurgical coal.
  2. Operational Risks and Production Disruptions: The inherent dangers of the coal mining industry pose significant operational risks to Alpha Metallurgical Resources. These include the potential for fatal incidents, such as the water influx at the Rolling Thunder Mine in November 2025, which can lead to increased regulatory scrutiny and operational disruption. Furthermore, the company has faced reduced full-year shipment guidance, underscoring challenges in stabilizing output. Broader mining hazards like explosions, fires, respiratory issues, equipment accidents, and structural failures also contribute to this risk.
  3. Environmental and Regulatory Challenges: The coal industry, including Alpha Metallurgical Resources, operates under constant pressure from evolving domestic and international environmental laws and regulations. This includes emissions regulations, climate change policies, and a broader societal push to reduce carbon emissions, which can negatively impact demand for coal and increase compliance costs.

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  • The accelerated global transition towards decarbonization of steel production, specifically through the development and increasing adoption of hydrogen-based direct reduced iron (H-DRI) technologies, which aims to produce "green steel" with significantly reduced or zero carbon emissions. This fundamentally reduces or eliminates the need for metallurgical coal, a primary product of Alpha Metallurgical Resources, for traditional steelmaking processes.
  • The rapid and accelerating global shift away from fossil fuels for electricity generation, driven by the expanding adoption of renewable energy sources (such as solar and wind power) and advancements in energy storage technologies. This trend directly and increasingly displaces thermal coal, another key product for Alpha Metallurgical Resources, as a primary fuel source for power plants.

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Alpha Metallurgical Resources, a company specializing in met and thermal coal, operates within addressable markets of significant scale.

Metallurgical Coal

  • The global metallurgical coal market size was estimated at approximately 72.63 billion USD in 2024. This market is projected to grow to 74.77 billion USD in 2025 and further to 100.02 billion USD by 2035.
  • In North America, the metallurgical coal market was valued at 23.72 billion USD in 2024 and is expected to reach 27.27 billion USD by 2030. The United States holds a substantial share, approximately 60%, of the North American metallurgical coal market.

Thermal Coal

  • The global thermal coal market size was valued at approximately 655.89 billion USD in 2025 and is projected to reach 799.11 billion USD by 2034.
  • For the United States, the overall coal market, which includes both thermal and metallurgical coal, was valued at 70.35 billion USD in 2024. This market is anticipated to grow to 76.94 billion USD by 2034. Thermal coal is expected to lead growth within the U.S. coal market, reflecting its essential role in power generation.

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For Alpha Metallurgical Resources (AMR), the following are expected drivers of future revenue growth over the next 2-3 years:

  1. Increased Production from the Kingston Wildcat Low-Vol Mine: The company is developing its Kingston Wildcat Low-Vol Mine, which is projected to contribute approximately 500,000 tons of production in 2026 and eventually ramp up to a full annual capacity of nearly 1 million tons. This new mine is strategically important for diversifying Alpha's product portfolio and enhancing its low-volatility coal production.
  2. Recovery in Metallurgical Coal Pricing: Despite recent periods of oversupply and weak pricing in the metallurgical coal market, a long-term thesis suggests potential price elevation due to global underinvestment and persistent supply constraints in mining. A sustained improvement in metallurgical coal prices would directly enhance AMR's revenue per ton.
  3. Growth in Global Steel Demand: As metallurgical coal is a critical component in steel production, a rebound in global steel demand is a key catalyst for increased sales volumes for Alpha Metallurgical Resources. Specifically, growth in key export markets such as India, a significant destination for AMR's coal cargoes, is anticipated to contribute to higher demand.
  4. Strategic Domestic and International Sales Commitments: Securing committed sales volumes in both domestic and international markets provides a stable revenue base for the company. For example, Alpha has already secured 4.1 million tons in domestic coal sales commitments for 2026 at an average price of $136.30 per ton, which helps in cash flow planning and mitigating market volatility.

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Share Repurchases

  • Alpha Metallurgical Resources has an authorized share repurchase program of up to $1.5 billion.
  • Since the program's inception on March 7, 2022, the company has repurchased approximately 6.9 million shares for roughly $1.1 billion, significantly reducing its share count by around 31%.
  • As of April 2024, approximately $400 million of the authorized share repurchase program remained. The company planned to restart repurchases on an opportunistic basis as of August 2025 after strengthening its liquidity.

Share Issuance

  • The number of outstanding shares has generally decreased from 18.48 million in 2021 to 13.01 million in 2025 due to share buybacks.

Capital Expenditures

  • Capital expenditures for Alpha Metallurgical Resources amounted to approximately $140.9 million for the fiscal year ending September 30, 2025.
  • Expected capital expenditures for 2026 are between $148 million and $168 million, in addition to $35 million to $45 million in capital contributions to equity affiliates.
  • A key focus of these expenditures is the ongoing development of the Kingston Wildcat mine, aiming for 500,000 tons of production in 2026 and eventually ramping up to 1 million tons per year.

Better Bets vs. Alpha Metallurgical Resources (AMR)

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Peer Comparisons

Peers to compare with:

Financials

AMRHCCBTUCNXMETCSXCMedian
NameAlpha Me.Warrior .Peabody .CNX Reso.Ramaco R.SunCoke . 
Mkt Price165.2581.2823.5133.7312.568.3928.62
Mkt Cap2.14.32.94.80.80.72.5
Rev LTM2,1231,4693,8982,3155241,8561,989
Op Inc LTM-32142-89964-6820-6
FCF LTM22-135-191557-14077-56
FCF 3Y Avg297-66127324-4109118
CFO LTM1522072441,091-59156181
CFO 3Y Avg47636454089673190420

Growth & Margins

AMRHCCBTUCNXMETCSXCMedian
NameAlpha Me.Warrior .Peabody .CNX Reso.Ramaco R.SunCoke . 
Rev Chg LTM-19.1%11.1%-7.0%38.4%-16.7%-1.4%-4.2%
Rev Chg 3Y Avg-18.5%-6.8%-11.5%-0.6%-1.9%-2.7%-4.7%
Rev Chg Q-1.3%52.9%3.9%28.2%-9.7%4.4%4.1%
QoQ Delta Rev Chg LTM-0.3%12.1%0.9%8.0%-2.4%1.0%1.0%
Op Inc Chg LTM-169.0%60.2%-128.2%140.7%-5,200.0%-86.4%-107.3%
Op Inc Chg 3Y Avg-104.7%-21.6%-81.2%57.6%-1,782.2%-25.8%-53.5%
Op Mgn LTM-1.5%9.7%-2.3%41.6%-13.0%1.1%-0.2%
Op Mgn 3Y Avg6.8%15.2%6.9%26.2%-1.1%5.0%6.8%
QoQ Delta Op Mgn LTM1.4%6.2%-2.1%5.0%-2.6%-1.4%-0.0%
CFO/Rev LTM7.2%14.1%6.3%47.1%-11.2%8.4%7.8%
CFO/Rev 3Y Avg16.0%23.8%12.5%50.9%10.1%9.8%14.3%
FCF/Rev LTM1.1%-9.2%-4.9%24.1%-26.7%4.2%-1.9%
FCF/Rev 3Y Avg9.5%-5.1%2.7%16.6%-2.6%5.6%4.1%

Valuation

AMRHCCBTUCNXMETCSXCMedian
NameAlpha Me.Warrior .Peabody .CNX Reso.Ramaco R.SunCoke . 
Mkt Cap2.14.32.94.80.80.72.5
P/S1.02.90.72.11.50.41.2
P/Op Inc-66.930.1-32.45.0-11.235.7-3.1
P/EBIT-38.227.1-35.62.9-11.6-10.2-10.9
P/E-54.631.2-24.04.1-12.7-10.9-11.8
P/CFO13.920.711.84.4-13.14.68.2
Total Yield-1.8%3.6%-2.9%24.6%-7.6%-3.4%-2.4%
Dividend Yield0.0%0.4%1.3%0.0%0.2%5.7%0.3%
FCF Yield 3Y Avg9.9%-2.0%6.1%6.5%1.7%14.2%6.3%
D/E0.00.10.10.50.60.90.3
Net D/E-0.20.0-0.00.50.10.80.1

Returns

AMRHCCBTUCNXMETCSXCMedian
NameAlpha Me.Warrior .Peabody .CNX Reso.Ramaco R.SunCoke . 
1M Rtn-17.7%-16.2%-10.7%-0.0%-19.2%-7.9%-13.5%
3M Rtn-26.0%-18.0%-40.3%-16.9%-19.3%28.3%-18.6%
6M Rtn-19.4%-8.7%-22.2%-7.9%-29.8%20.1%-14.1%
12M Rtn65.6%93.5%85.7%0.5%9.2%11.9%38.8%
3Y Rtn2.2%117.5%16.3%95.5%65.0%24.6%44.8%
1M Excs Rtn-15.5%-14.0%-8.5%2.2%-17.0%-5.7%-11.3%
3M Excs Rtn-37.0%-28.5%-50.5%-29.2%-23.6%15.2%-28.8%
6M Excs Rtn-27.3%-15.1%-30.7%-17.0%-32.1%14.7%-22.1%
12M Excs Rtn45.4%77.7%63.9%-19.5%-6.9%-5.3%20.1%
3Y Excs Rtn-70.0%48.4%-54.3%28.9%-95.4%-47.3%-50.8%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Met2,1292,9573,4214,0242,176
All other  507883
Total2,1292,9573,4714,1022,259


Net Income by Segment
$ Mil2025202420232022
Met-621887401,647
All other  -19-199
Total-621887221,449


Price Behavior

Price Behavior
Market Price$165.25 
Market Cap ($ Bil)2.1 
First Trading Date04/28/2017 
Distance from 52W High-33.8% 
   50 Days200 Days
DMA Price$190.37$186.45
DMA Trendupdown
Distance from DMA-13.2%-11.4%
 3M1YR
Volatility61.2%62.1%
Downside Capture168.65114.05
Upside Capture-19.21150.05
Correlation (SPY)-2.9%17.0%
AMR Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta1.58-0.34-0.390.120.820.80
Up Beta3.84-0.39-0.96-0.80-0.370.46
Down Beta3.701.880.490.270.860.96
Up Capture70%-36%10%60%170%76%
Bmk +ve Days13283667141432
Stock +ve Days11213463128375
Down Capture-33%-115%-119%20%103%100%
Bmk -ve Days7132757109318
Stock -ve Days9202961121373

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with AMR
AMR76.1%61.8%1.15-
Sector ETF (XLB)20.7%17.5%0.9221.6%
Equity (SPY)21.2%12.4%1.2616.5%
Gold (GLD)21.8%27.7%0.707.1%
Commodities (DBC)21.8%18.6%0.9217.3%
Real Estate (VNQ)16.1%13.6%0.854.1%
Bitcoin (BTCUSD)-44.7%42.5%-1.2719.7%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with AMR
AMR54.3%59.6%0.96-
Sector ETF (XLB)7.2%19.0%0.2733.7%
Equity (SPY)13.4%17.1%0.6124.8%
Gold (GLD)17.8%18.3%0.799.7%
Commodities (DBC)7.4%19.5%0.2832.6%
Real Estate (VNQ)3.4%18.9%0.0817.2%
Bitcoin (BTCUSD)10.7%54.0%0.3914.5%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with AMR
AMR34.0%756.1%0.43-
Sector ETF (XLB)10.3%20.7%0.441.2%
Equity (SPY)15.2%18.0%0.721.1%
Gold (GLD)11.8%16.1%0.60-2.4%
Commodities (DBC)5.9%18.0%0.260.8%
Real Estate (VNQ)5.6%20.7%0.233.0%
Bitcoin (BTCUSD)54.6%66.4%0.950.5%

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Short Interest

Short Interest: As Of Date6152026
Short Interest: Shares Quantity1.7 Mil
Short Interest: % Change Since 5312026-1.6%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest6.8 days
Basic Shares Quantity12.8 Mil
Short % of Basic Shares13.1%

Earnings Returns History

Updated 6/11/2026
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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/8/2026-4.8%-5.9%4.5%
2/27/2026-3.2%0.6%32.9%
11/6/2025-1.6%-2.3%0.2%
8/8/202515.8%23.4%8.8%
5/9/2025-8.5%-2.0%-9.5%
2/28/2025-7.4%-9.8%-14.9%
11/1/2024-2.7%14.7%16.4%
8/5/2024-3.9%-0.7%-16.4%
...
SUMMARY STATS   
# Positive131215
# Negative11129
Median Positive6.1%12.3%16.4%
Median Negative-3.9%-4.8%-11.3%
Max Positive15.8%25.6%53.7%
Max Negative-14.9%-18.9%-20.5%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/8/2026-4.8%-5.9%4.5%
2/27/2026-3.2%0.6%32.9%
11/6/2025-1.6%-2.3%0.2%
8/8/202515.8%23.4%8.8%
5/9/2025-8.5%-2.0%-9.5%
2/28/2025-7.4%-9.8%-14.9%
11/1/2024-2.7%14.7%16.4%
8/5/2024-3.9%-0.7%-16.4%
5/6/2024-10.9%-13.7%-10.2%
2/26/202413.4%-1.0%-20.5%
11/2/2023-2.4%-0.4%31.6%
8/4/20236.1%9.8%28.1%
5/8/20238.0%3.9%0.8%
2/23/2023-2.2%6.5%-11.3%
11/7/20220.5%-13.1%-8.2%
8/8/20229.3%17.9%19.1%
5/5/20223.4%-3.6%4.9%
3/7/20220.4%14.3%4.5%
11/5/20212.2%-10.3%-20.4%
8/6/20213.7%21.5%53.7%
5/10/202113.6%4.2%52.1%
3/15/2021-14.9%-18.9%-8.3%
11/9/20206.0%10.4%40.1%
8/7/202011.1%25.6%12.2%
SUMMARY STATS   
# Positive131215
# Negative11129
Median Positive6.1%12.3%16.4%
Median Negative-3.9%-4.8%-11.3%
Max Positive15.8%25.6%53.7%
Max Negative-14.9%-18.9%-20.5%

SEC Filings

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Report DateFiling DateFiling
03/31/202605/08/202610-Q
12/31/202502/27/202610-K
09/30/202511/06/202510-Q
06/30/202508/08/202510-Q
03/31/202505/09/202510-Q
12/31/202402/28/202510-K
09/30/202411/01/202410-Q
06/30/202408/05/202410-Q
03/31/202405/06/202410-Q
12/31/202302/26/202410-K
09/30/202311/02/202310-Q
06/30/202308/04/202310-Q
03/31/202305/08/202310-Q
12/31/202202/23/202310-K
09/30/202211/07/202210-Q
06/30/202208/08/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/08/202610-Q
12/31/202502/27/202610-K
09/30/202511/06/202510-Q
06/30/202508/08/202510-Q
03/31/202505/09/202510-Q
12/31/202402/28/202510-K
09/30/202411/01/202410-Q
06/30/202408/05/202410-Q
03/31/202405/06/202410-Q
12/31/202302/26/202410-K
09/30/202311/02/202310-Q
06/30/202308/04/202310-Q
03/31/202305/08/202310-Q
12/31/202202/23/202310-K
09/30/202211/07/202210-Q
06/30/202208/08/202210-Q
03/31/202205/05/202210-Q
12/31/202103/07/202210-K
09/30/202111/05/202110-Q
06/30/202108/06/202110-Q
03/31/202105/10/202110-Q
12/31/202003/15/202110-K
09/30/202011/09/202010-Q
06/30/202008/07/202010-Q
03/31/202005/11/202010-Q
12/31/201903/18/202010-K
09/30/201911/14/201910-Q
06/30/201908/14/201910-Q

Recent Forward Guidance

Updated 5/31/2026

Latest: Q1 2026 Earnings Reported 5/8/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Metallurgical Coal Shipments14.40 Mil14.90 Mil15.40 Mil0 AffirmedGuidance: 14.90 Mil for 2026
2026 Thermal Coal Shipments0.70 Mil0.90 Mil1.10 Mil0 AffirmedGuidance: 0.90 Mil for 2026
2026 Met segment - total shipments15.10 Mil15.80 Mil16.50 Mil0 AffirmedGuidance: 15.80 Mil for 2026
2026 Cost of Coal Sales per ton95981010 AffirmedGuidance: 98 for 2026
2026 SG&A53.00 Mil56.00 Mil59.00 Mil0 AffirmedGuidance: 56.00 Mil for 2026
2026 Idle operations expense24.00 Mil28.00 Mil32.00 Mil0 AffirmedGuidance: 28.00 Mil for 2026
2026 Net cash interest income2.00 Mil4.00 Mil6.00 Mil0 AffirmedGuidance: 4.00 Mil for 2026
2026 DD&A160.00 Mil167.00 Mil174.00 Mil0 AffirmedGuidance: 167.00 Mil for 2026
2026 Capital Expenditures148.00 Mil158.00 Mil168.00 Mil0 AffirmedGuidance: 158.00 Mil for 2026
2026 Capital contributions to equity affiliates35.00 Mil40.00 Mil45.00 Mil0 AffirmedGuidance: 40.00 Mil for 2026
2026 Cash tax rate0.0%2.5%5.0%0 AffirmedGuidance: 2.5% for 2026

Prior: Q4 2025 Earnings Reported 2/27/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Metallurgical Coal Shipments 14.90 Mil 4.2% RaisedGuidance: 14.30 Mil for 2025
2026 Thermal Coal Shipments 0.90 Mil -10.0% LoweredGuidance: 1.00 Mil for 2025
2026 Total Met Segment Shipments 15.80 Mil 3.3% RaisedGuidance: 15.30 Mil for 2025
2026 Cost of Coal Sales per Ton 98 -5.8% LoweredGuidance: 104 for 2025
2026 SG&A 56.00 Mil 9.8% RaisedGuidance: 51.00 Mil for 2025
2026 Idle Operations Expense 28.00 Mil 12.0% RaisedGuidance: 25.00 Mil for 2025
2026 Net Cash Interest Income 4.00 Mil -55.6% LoweredGuidance: 9.00 Mil for 2025
2026 DD&A 167.00 Mil -4.6% LoweredGuidance: 175.00 Mil for 2025
2026 Capital Expenditures 158.00 Mil 12.9% RaisedGuidance: 140.00 Mil for 2025
2026 Capital Contributions to Equity Affiliates 40.00 Mil 5.3% RaisedGuidance: 38.00 Mil for 2025
2026 Cash Tax Rate 2.5%   Higher New

Insider Activity

Updated 6/16/2026
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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Courtis, Kenneth S DirectBuy6162026200.7310,0002,007,296197,797,712Form
2Whitehead, Jason EPresident & COODirectSell6042026212.283,901828,0862,218,277Form
3Whitehead, Jason EPresident & COODirectBuy6042026214.949921,2792,224,844Form
4Manno, Mark MatthewEVP, GC & SecretaryDirectSell6022026214.6446098,734851,262Form
5Courtis, Kenneth S DirectBuy5152026189.2215,0002,838,325184,565,695Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Courtis, Kenneth S DirectBuy6162026200.7310,0002,007,296197,797,712Form
2Whitehead, Jason EPresident & COODirectSell6042026212.283,901828,0862,218,277Form
3Whitehead, Jason EPresident & COODirectBuy6042026214.949921,2792,224,844Form
4Manno, Mark MatthewEVP, GC & SecretaryDirectSell6022026214.6446098,734851,262Form
5Courtis, Kenneth S DirectBuy5152026189.2215,0002,838,325184,565,695Form
6Courtis, Kenneth S DirectBuy3202026191.078,0001,528,550167,096,639Form
7Courtis, Kenneth S DirectBuy3132026186.8710,0001,868,707161,930,384Form
8Courtis, Kenneth S DirectBuy3112026176.2325,0004,405,651148,300,725Form
9Horn, Daniel EChief Commercial OfficerDirectSell3092026170.05971165,1191,244,766Form
10Munsey, Joshua ToddChief Financial OfficerDirectSell3052026183.242,523462,315867,641Form
11Courtis, Kenneth S DirectBuy12172025188.169,0001,693,441153,639,712Form
12Gorzynski, MichaelContinental General Insurance CompanyBuy12172025188.5038,5767,271,494121,397,349Form
13Horn, Daniel EChief Commercial OfficerDirectSell12152025188.328,1251,530,118939,540Form
14Courtis, Kenneth S DirectBuy12122025181.8512,7602,320,467142,853,648Form
15Courtis, Kenneth S DirectBuy12122025178.302,240399,382137,782,620Form
16Courtis, Kenneth S DirectBuy12102025175.2636,0006,309,390135,044,954Form
17Courtis, Kenneth S DirectBuy9172025154.6853,0008,198,074113,618,661Form
18Courtis, Kenneth S DirectBuy9172025142.6455,0007,845,31897,215,898Form
19Whitehead, Jason EPresident & COODirectSell8142025161.8412,0041,942,7821,565,522Form
20Munsey, Joshua ToddChief Financial OfficerDirectSell8142025157.002,135335,195701,162Form
Core Cache Last Updated: 6/26/2026