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

Alpha Metallurgical Resources, Inc. (NYSE:AMR) shares 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 trading hands.

The energy company reported $9.59 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $864.07 million during the quarter, compared to analysts’ expectations of $845.35 million. During the same quarter in the prior year, the company earned $17.01 earnings per share. The firm’s revenue was down 5.2% compared to the same quarter last year.

Analysts Set New Price Targets

Several 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 research report on Tuesday. Benchmark restated a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Tuesday.

Insiders Place Their Bets

In other Alpha Metallurgical Resources news, insider Daniel E. Horn sold 100 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Wednesday, February 28th. The stock was 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 in the company, valued at approximately $2,328,193.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director David J. Stetson sold 30,694 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $392.30, for a total transaction of $12,041,256.20. Following the completion of the sale, the director now owns 26,054 shares in the company, valued at approximately $10,220,984.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel E. Horn sold 100 shares of Alpha Metallurgical Resources stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $360.29, for a total value of $36,029.00. Following the transaction, the insider now owns 6,462 shares in the company, valued at $2,328,193.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 153,971 shares of company stock worth $55,479,986. Company insiders own 16.40% of the company’s stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

A number of hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new stake in Alpha Metallurgical Resources during the 4th quarter valued at about $2,465,000. Raymond James & Associates boosted its holdings in Alpha Metallurgical Resources by 203.8% in the third quarter. Raymond James & Associates now owns 9,546 shares of the energy company’s stock worth $2,479,000 after acquiring an additional 6,404 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in shares of Alpha Metallurgical Resources during the 4th quarter valued at about $2,302,000. Invesco Ltd. lifted its stake in Alpha Metallurgical Resources by 180.9% in the 3rd quarter. Invesco Ltd. now owns 115,816 shares of the energy company’s stock valued at $30,081,000 after buying an additional 74,583 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in Alpha Metallurgical Resources in the fourth quarter valued at approximately $2,000,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

Alpha Metallurgical Resources Stock Down 1.9 %

The stock has a market capitalization of $3.89 billion, a PE 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.

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.