Alpha Metallurgical Resources (NYSE:AMR) Shares Gap Down After Earnings Miss

Alpha Metallurgical Resources, Inc. (NYSE:AMR) shares gapped down prior to trading on Monday following a weaker than expected earnings announcement. The stock had previously closed at $332.77, but opened at $309.63. Alpha Metallurgical Resources shares last traded at $324.00, with a volume of 72,405 shares traded.

The energy company reported $9.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.61 by ($0.02). Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. The business had revenue of $864.07 million for the quarter, compared to the consensus estimate of $845.35 million. During the same period in the previous year, the company earned $17.01 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year.

Wall Street Analyst Weigh In

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

Insider Transactions at Alpha Metallurgical Resources

In other news, insider Daniel E. Horn sold 100 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $360.29, for a total value of $36,029.00. Following the completion of the sale, the insider now directly owns 6,462 shares of the company’s stock, valued at $2,328,193.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Alpha Metallurgical Resources news, CAO Roger Lee Nicholson sold 6,629 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $369.71, for a total transaction of $2,450,807.59. Following the completion of the transaction, the chief accounting officer now owns 10,720 shares in the company, valued at $3,963,291.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel E. Horn sold 100 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $360.29, for a total transaction of $36,029.00. Following the transaction, the insider now owns 6,462 shares of the company’s stock, valued at approximately $2,328,193.98. The disclosure for this sale can be found here. Insiders sold a total of 153,971 shares of company stock valued at $55,479,986 over the last three months. Corporate insiders own 16.40% of the company’s stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several institutional investors have recently bought and sold shares of AMR. Fuller & Thaler Asset Management Inc. bought a new position in Alpha Metallurgical Resources during the third quarter valued at $128,857,000. Pacer Advisors Inc. bought a new stake in shares of Alpha Metallurgical Resources in the 4th quarter worth about $139,291,000. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Alpha Metallurgical Resources in the 3rd quarter worth about $28,239,000. Dalal Street LLC lifted its holdings in shares of Alpha Metallurgical Resources by 21.7% in the 3rd quarter. Dalal Street LLC now owns 441,510 shares of the energy company’s stock worth $114,673,000 after acquiring an additional 78,861 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Alpha Metallurgical Resources by 180.9% in the 3rd quarter. Invesco Ltd. now owns 115,816 shares of the energy company’s stock worth $30,081,000 after acquiring an additional 74,583 shares during the last quarter. Institutional investors own 84.29% of the company’s stock.

Alpha Metallurgical Resources Stock Performance

The business’s fifty day moving average is $332.04 and its two-hundred day moving average is $325.40. The company has a market cap of $3.96 billion, a P/E ratio of 6.25 and a beta of 1.38.

Alpha Metallurgical Resources Company Profile

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.