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

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) gapped down before the market opened on Monday following a dissappointing 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 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 during the quarter, compared to analysts’ expectations of $845.35 million. During the same quarter in the previous year, the company posted $17.01 EPS. The company’s revenue was down 5.2% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. 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 report on Tuesday. Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Tuesday.

Insider Buying and Selling

In related news, Director Kenneth S. Courtis sold 22,802 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $302.81, for a total transaction of $6,904,673.62. Following the transaction, the director now owns 638,234 shares in the company, valued at approximately $193,263,637.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis sold 15,000 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $318.95, for a total value of $4,784,250.00. Following the transaction, the director now directly owns 681,036 shares in the company, valued at approximately $217,216,432.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth S. Courtis sold 22,802 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $302.81, for a total value of $6,904,673.62. Following the completion of the transaction, the director now owns 638,234 shares in the company, valued at $193,263,637.54. 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 quarter. 16.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AMR. Russell Investments Group Ltd. grew its holdings in Alpha Metallurgical Resources by 15.8% during the first quarter. Russell Investments Group Ltd. now owns 5,549 shares of the energy company’s stock worth $1,838,000 after acquiring an additional 757 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Alpha Metallurgical Resources in the first quarter valued at about $88,000. SG Americas Securities LLC acquired a new position in Alpha Metallurgical Resources during the first quarter worth about $356,000. Empowered Funds LLC lifted its position in shares of Alpha Metallurgical Resources by 85.5% during the 1st quarter. Empowered Funds LLC now owns 41,555 shares of the energy company’s stock valued at $13,762,000 after acquiring an additional 19,154 shares during the period. Finally, Gallacher Capital Management LLC purchased a new stake in shares of Alpha Metallurgical Resources during the 1st quarter worth approximately $374,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Stock Performance

The business has a fifty day moving average of $332.04 and a two-hundred day moving average of $325.40. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 6.25 and a beta of 1.38.

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.