Alpha Metallurgical Resources (NYSE:AMR) Trading Down 4% – Here’s Why

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s share price fell 4% during mid-day trading on Wednesday . The stock traded as low as $123.42 and last traded at $123.02. 33,382 shares were traded during trading, a decline of 88% from the average session volume of 277,767 shares. The stock had previously closed at $128.15.

Alpha Metallurgical Resources Stock Down 7.4 %

The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 4.24 and a beta of 1.08. The business’s 50-day moving average is $152.13 and its 200-day moving average is $194.97.

Alpha Metallurgical Resources (NYSE:AMR) last released its quarterly earnings data on Friday, February 28th. The energy company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). Alpha Metallurgical Resources had a net margin of 11.08% and a return on equity of 22.65%. The company had revenue of $617.30 million for the quarter, compared to analysts’ expectations of $658.20 million. During the same quarter in the previous year, the business posted $12.88 EPS. The business’s quarterly revenue was down 35.7% on a year-over-year basis. As a group, analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in shares of Alpha Metallurgical Resources by 17.3% in the 4th quarter. Wellington Management Group LLP now owns 56,901 shares of the energy company’s stock valued at $11,387,000 after purchasing an additional 8,386 shares during the period. Mackenzie Financial Corp acquired a new position in shares of Alpha Metallurgical Resources in the fourth quarter worth about $1,001,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Alpha Metallurgical Resources during the 4th quarter worth about $60,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Alpha Metallurgical Resources by 26.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,548 shares of the energy company’s stock valued at $4,112,000 after acquiring an additional 4,249 shares during the period. Finally, Wexford Capital LP purchased a new position in shares of Alpha Metallurgical Resources in the 4th quarter valued at about $1,981,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.

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.