Alpha Metallurgical Resources (NYSE:AMR) Shares Gap Down Following Weak Earnings

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s stock price gapped down before the market opened 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.

The energy company reported $9.59 earnings per share 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 firm had revenue of $864.07 million for the quarter, compared to analyst estimates of $845.35 million. During the same period in the previous year, the business posted $17.01 earnings per share. Alpha Metallurgical Resources’s revenue for the quarter was down 5.2% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AMR shares. Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a report on Tuesday. B. Riley boosted their price objective on Alpha Metallurgical Resources from $374.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday.

Insider Activity

In other Alpha Metallurgical Resources news, insider Daniel E. Horn sold 100 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $360.29, for a total value of $36,029.00. Following the transaction, the insider now directly owns 6,462 shares of the company’s stock, valued at approximately $2,328,193.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Daniel E. Horn sold 100 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $360.29, for a total transaction of $36,029.00. Following the completion of the sale, the insider now owns 6,462 shares in the company, valued at $2,328,193.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David J. Stetson sold 4,502 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $388.26, for a total transaction of $1,747,946.52. Following the transaction, the director now owns 20,104 shares of the company’s stock, valued at approximately $7,805,579.04. The disclosure for this sale can be found here. Insiders have sold 153,971 shares of company stock worth $55,479,986 in the last 90 days. Corporate insiders own 16.40% of the company’s stock.

Institutional Trading of Alpha Metallurgical Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of AMR. GAMMA Investing LLC acquired a new stake in shares of Alpha Metallurgical Resources in the fourth quarter worth approximately $33,000. Wetzel Investment Advisors Inc. purchased a new stake in Alpha Metallurgical Resources during the 4th quarter worth about $34,000. Quadrant Capital Group LLC purchased a new stake in Alpha Metallurgical Resources during the fourth quarter valued at about $35,000. Creekmur Asset Management LLC acquired a new position in shares of Alpha Metallurgical Resources in the 4th quarter worth approximately $36,000. Finally, PNC Financial Services Group Inc. raised its stake in Alpha Metallurgical Resources by 947.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 178 shares of the energy company’s stock valued at $60,000 after acquiring an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Alpha Metallurgical Resources Trading Down 1.9 %

The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 6.25 and a beta of 1.38. The stock has a fifty day moving average of $332.04 and a 200-day moving average of $325.40.

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.