Alpha Metallurgical Resources, (AMR) Stock Price & How to Invest
Last updated July 2026
Short answer
You can invest in Alpha Metallurgical Resources (AMR) by buying shares or fractional shares at any major US broker, through a materials, metals-and-mining, or coal ETF that holds it, or as one holding in a thematic basket. Alpha is one of the largest US producers of metallurgical coal, the coking coal used to make steel, mining primarily in Virginia and West Virginia and exporting large volumes through its partial ownership of the Dominion Terminal Associates facility. The core thing to understand is that this is a deeply cyclical commodity stock, not a steady compounder: its profits swing with global met-coal prices and steel demand, and management has returned enormous cash through buybacks that have shrunk the share count sharply since 2022.
AMR stock price
As of 2026-07-14, Alpha Metallurgical Resources, (AMR) last closed at $153.71, up 31.3% over the past year. Over the past 52 weeks it has traded between $113.89 and $249.65.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Alpha Metallurgical Resources, 's investor relations page. Walnut is informational, not investment advice.
What does Alpha Metallurgical Resources, (AMR) do?
Alpha Metallurgical Resources is a Tennessee-based coal producer focused almost entirely on high-quality metallurgical coal, the coking coal that steelmakers use in blast furnaces. It mines primarily in Virginia and West Virginia and sells to domestic and international steel customers, exporting large volumes through its partial stake in the Dominion Terminal Associates export terminal. Unlike thermal-coal miners tied to power generation, Alpha's fortunes track the steel cycle: its revenue and margins are driven mainly by the global price of met coal and by its own mining and logistics costs, which makes it a price-taker on a volatile commodity rather than a business with pricing power.
The mid-2026 picture combined soft results with a strong balance sheet. In Q1 2026 the company reported a net loss of about $11.0 million, or roughly ($0.86) per diluted share, on coal revenues of about $523.5 million, with adjusted EBITDA near $30.0 million. Its metallurgical segment sold about 3.6 million tons at a realized price around $124 per ton against a cost near $108 per ton, and management blamed a planned month-long outage at the Dominion Terminal, elevated repair and maintenance spending, and higher diesel prices. Even so, Alpha ended the quarter with roughly $476 million of total liquidity and only about $12 million of long-term debt, and it expects volumes to improve in the second and third quarters as normal seasonality returns and the Wildcat Mine ramps up. About 48% of 2026 met tonnage was already committed and priced.
What's driving Alpha Metallurgical Resources, (AMR)?
1. Metallurgical coal prices and the steel cycle
Alpha's earnings are geared directly to the price of met coal, which is set by global steel demand and seaboard supply. When Asian and Indian steel production runs hot and supply is tight, realized prices and margins rise quickly; when steel slows, they fall just as fast. Because mining carries high fixed costs, small moves in the met-coal price translate into outsized swings in profit, which is why AMR trades far more on the commodity than on company-specific news.
2. Low-cost operations and volume recovery
The company competes on cost per ton, and Q1 2026 was hurt by a terminal outage, heavier maintenance, and higher diesel. Management expects shipments and production to improve through the second and third quarters on normal seasonality and the ramp-up of the Wildcat Mine. Getting cost of coal sales back down and volumes back up is the main lever Alpha controls when prices are flat, and execution here separates a good quarter from a poor one.
3. Balance sheet strength and capital returns
Alpha ended Q1 2026 with roughly $476 million of liquidity and only about $12 million of long-term debt, a rare position for a cyclical miner. It has returned large amounts of cash through an aggressive buyback that has reduced the share count substantially since 2022. A clean balance sheet lets the company keep repurchasing shares and weather downturns without distress, and a shrinking share count magnifies per-share earnings when the cycle turns up.
4. Exports, logistics, and demand mix
A meaningful share of Alpha's coal is exported, so access to port capacity, notably its stake in Dominion Terminal Associates, and the health of overseas steel markets matter as much as domestic demand. Committing and pricing tonnage in advance (about 48% of 2026 was set) smooths some volatility, but international demand, freight rates, and terminal reliability remain swing factors for realized prices and shipped volumes.
What are the risks to Alpha Metallurgical Resources, (AMR)?
The dominant risk is commodity cyclicality: with revenue tied to the met-coal price and global steel demand, a slowdown can turn profits into losses fast, as Q1 2026's net loss showed even with a strong balance sheet. Operational risks are real, including mine and terminal outages, equipment upgrades, and input-cost spikes such as diesel, all of which pressured recent margins. As a single-commodity producer with no meaningful diversification, Alpha has little to cushion a downturn beyond its low debt and cash. Coal also carries structural, long-term headwinds from decarbonization and ESG-driven capital avoidance, though met coal used in steelmaking has fewer near-term substitutes than thermal coal. Finally, capital returns depend on cash generation, so buybacks can slow sharply when prices fall.
How is Alpha Metallurgical Resources, (AMR) valued? (approximate, Jul 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Alpha Metallurgical Resources, 's investor relations page or your broker.
- Coal revenue (Q1 2026): ~$523.5 million
- Net income (Q1 2026): Net loss of ~$11.0 million, or about ($0.86) per diluted share
- Adjusted EBITDA (Q1 2026): ~$30.0 million, reflecting lower volumes and higher costs
- Balance sheet: ~$476 million total liquidity against only ~$12 million long-term debt
- Dividend: No meaningful regular dividend; capital returns come mainly through buybacks that have cut the share count sharply since 2022
- Earnings multiple: Screens cheap on strong-cycle earnings but a met-coal loss quarter makes trailing multiples volatile and less meaningful
Figures are approximate and tied to the asOf date; verify live numbers before acting. For a cyclical met-coal producer, a low price-to-earnings multiple can be a value trap because it often reflects peak-cycle profits, while a loss quarter can make the multiple meaningless in the other direction. What matters more than any single multiple is where met-coal prices and steel demand sit in the cycle, the company's cost per ton, and how much cash the buyback keeps returning.
Who competes with Alpha Metallurgical Resources, (AMR)?
US metallurgical coal peers
Warrior Met Coal (HCC) is the closest pure-play US met-coal comparison, similarly exposed to seaboard coking-coal prices and export demand. Core Natural Resources (formed by the merger of Arch Resources and CONSOL Energy) is another large domestic met-coal producer. These names tend to move together with the met-coal price and steel cycle rather than on company-specific fundamentals.
Diversified coal producers
Peabody Energy (BTU) mines both metallurgical and thermal coal, giving it a more diversified but also more thermal-exposed profile than Alpha. Broader diversified miners with met-coal assets, such as global majors, also supply the seaboard market. Compared with these, Alpha is a more concentrated, higher-beta bet purely on coking coal.
Steel and raw-material alternatives
Because met coal is an input to steelmaking, the ultimate demand driver is the steel industry itself, including producers like Nucor, Cleveland-Cliffs, and global mills. Investors seeking exposure to the same steel theme with different risk can consider steelmakers or iron-ore producers, which sit elsewhere in the same supply chain and carry different cyclicality.
How to invest in Alpha Metallurgical Resources, (AMR)
There are three common ways to get AMR exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so AMR sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where AMR fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Alpha Metallurgical Resources, (AMR)
Alpha Metallurgical Resources is a leveraged, pure-play bet on metallurgical coal prices and global steel demand, with a low-debt balance sheet and an aggressive buyback that has cut the share count sharply. It rewards a strong met-coal cycle and punishes a weak one, so the question is how much commodity volatility fits your portfolio.
Build a basket around AMR with Walnut
Use Alpha Metallurgical Resources, as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
Is AMR a good stock to buy right now?
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That depends on your goals, time horizon, and risk tolerance, and this is not investment advice. The bull case is a low-debt balance sheet, a large ongoing buyback that has shrunk the share count, and leverage to any recovery in met-coal prices and steel demand. The bear case is that Alpha is a deeply cyclical single-commodity producer that reported a Q1 2026 loss and faces long-term decarbonization pressure. Weigh both against your portfolio.
What does Alpha Metallurgical Resources actually do?
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Alpha is a US coal miner focused on high-quality metallurgical coal, the coking coal steelmakers use in blast furnaces. It mines primarily in Virginia and West Virginia and exports large volumes through its partial stake in the Dominion Terminal Associates facility. It is not a thermal-coal utility supplier, so its results track the steel cycle and global met-coal prices rather than electricity demand.
Why is AMR stock so volatile?
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Alpha is a pure-play commodity producer, so its revenue and profits are tied directly to the global price of met coal. Because mining has high fixed costs, small moves in that price translate into large swings in earnings, a dynamic called operating leverage. Add outages, input-cost spikes like diesel, and shifts in overseas steel demand, and the result is a stock that can move sharply on macro and commodity news.
Does Alpha Metallurgical Resources pay a dividend?
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Alpha has emphasized share buybacks rather than a large regular dividend as its main way of returning cash to shareholders, repurchasing a substantial portion of its shares since 2022. That means most of the capital return shows up as a shrinking share count rather than a steady payout, so income is generally not the reason investors hold it. Always check the latest declared dividend, if any, before assuming a payout.
How did Alpha do in its most recent quarter?
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In Q1 2026 Alpha reported a net loss of about $11.0 million, or roughly ($0.86) per diluted share, on coal revenues near $523.5 million, with adjusted EBITDA around $30.0 million. Management cited a month-long terminal outage, elevated maintenance, and higher diesel costs, and said it expects volumes to improve in the second and third quarters as seasonality normalizes and the Wildcat Mine ramps up.
How financially healthy is the company?
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Alpha ended Q1 2026 with roughly $476 million of total liquidity, including a large cash balance and unused credit capacity, against only about $12 million of long-term debt. That low-leverage position is unusual for a cyclical miner and gives it room to keep buying back stock and to absorb weak quarters. A clean balance sheet does not eliminate commodity risk, but it reduces the chance of financial distress in a downturn.
How can I get exposure to Alpha through an ETF?
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AMR appears in various materials, metals-and-mining, and coal or natural-resources ETFs, where it sits among mining and commodity names. ETF exposure spreads single-stock risk across many holdings but dilutes how much any Alpha move affects you. Always check a fund's holdings and weighting before assuming meaningful exposure to Alpha specifically, since coal weightings vary widely across funds.
What are the main risks of investing in AMR?
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The central risk is commodity cyclicality: earnings rise and fall with met-coal prices and steel demand, and Q1 2026 was already a loss. Operational risks include mine and terminal outages and input-cost spikes like diesel. As a single-commodity producer, Alpha has little diversification to cushion a downturn, and coal faces long-term decarbonization and ESG headwinds. Buybacks, its main capital return, can slow sharply if cash generation weakens.
How is metallurgical coal different from thermal coal?
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Metallurgical, or coking, coal is used to make steel in blast furnaces, while thermal coal is burned to generate electricity. Alpha focuses on met coal, which is tied to global steel demand rather than power generation. Met coal generally faces fewer near-term substitutes than thermal coal because blast-furnace steelmaking still relies on it, though longer-term decarbonization of steel is a structural consideration.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Alpha Metallurgical Resources, 's investor relations page or your broker before making investment decisions.