Alpha Metallurgical Resources (NYSE:AMR) Shares Down 9.7% Following Weak Earnings

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) fell 9.7% during mid-day trading on Friday following a dissappointing earnings announcement. The company traded as low as $135.06 and last traded at $134.18. 430,357 shares traded hands during mid-day trading, an increase of 89% from the average session volume of 228,127 shares. The stock had previously closed at $148.56.

The energy company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The business had revenue of $617.30 million during the quarter, compared to the consensus estimate of $658.20 million. Alpha Metallurgical Resources had a return on equity of 22.65% and a net margin of 11.08%. The business’s revenue was down 35.7% on a year-over-year basis. During the same period last year, the company earned $12.88 EPS.

Wall Street Analyst Weigh In

Separately, Benchmark reiterated a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Monday, November 4th.

Insider Buying and Selling

In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis sold 10,621 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $228.73, for a total transaction of $2,429,341.33. Following the sale, the director now directly owns 603,342 shares in the company, valued at $138,002,415.66. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 15.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. purchased a new stake in Alpha Metallurgical Resources during the third quarter valued at approximately $36,000. New Age Alpha Advisors LLC purchased a new stake in Alpha Metallurgical Resources during the fourth quarter valued at approximately $40,000. FNY Investment Advisers LLC purchased a new stake in Alpha Metallurgical Resources during the fourth quarter valued at approximately $50,000. PNC Financial Services Group Inc. raised its position in Alpha Metallurgical Resources by 127.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 289 shares of the energy company’s stock valued at $58,000 after purchasing an additional 162 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Alpha Metallurgical Resources during the fourth quarter valued at approximately $60,000. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Price Performance

The firm has a fifty day moving average price of $183.33 and a two-hundred day moving average price of $210.46. The stock has a market capitalization of $1.79 billion, a PE ratio of 5.03 and a beta of 1.43.

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.