Alpha Metallurgical Resources (NYSE:AMR) Issues Quarterly Earnings Results

Alpha Metallurgical Resources (NYSE:AMR) announced its earnings results on Monday. The energy company reported $9.59 earnings per share for the quarter, missing analysts’ consensus estimates of $9.61 by ($0.02), Briefing.com reports. Alpha Metallurgical Resources had a return on equity of 46.22% and a net margin of 20.80%. The company had revenue of $864.07 million during the quarter, compared to the consensus estimate of $845.35 million. During the same period in the prior year, the firm posted $17.01 earnings per share. The company’s revenue was down 5.2% on a year-over-year basis.

Alpha Metallurgical Resources Stock Performance

Shares of AMR stock opened at $304.61 on Wednesday. The firm’s 50 day moving average price is $332.04 and its two-hundred day moving average price is $325.40. Alpha Metallurgical Resources has a 52-week low of $132.72 and a 52-week high of $452.00. The stock has a market cap of $3.96 billion, a PE ratio of 6.25 and a beta of 1.38.

Insider Buying and Selling at Alpha Metallurgical Resources

In related news, Director David J. Stetson sold 4,502 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $388.26, for a total value of $1,747,946.52. Following the sale, the director now directly owns 20,104 shares in the company, valued at approximately $7,805,579.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alpha Metallurgical Resources news, Director David J. Stetson sold 30,694 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $392.30, for a total value of $12,041,256.20. Following the completion of the sale, the director now directly owns 26,054 shares in the company, valued at $10,220,984.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David J. Stetson sold 4,502 shares of Alpha Metallurgical Resources stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $388.26, for a total value of $1,747,946.52. Following the transaction, the director now owns 20,104 shares in the company, valued at approximately $7,805,579.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 153,971 shares of company stock worth $55,479,986. Insiders own 16.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AMR. B. Riley increased their price objective on Alpha Metallurgical Resources from $374.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday. Benchmark reiterated a “hold” rating on shares of Alpha Metallurgical Resources in a report on Tuesday.

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.