Alpha Metallurgical Resources (NYSE:AMR) Trading Down 9.7% on Disappointing Earnings

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s share price fell 9.7% during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $135.06 and last traded at $134.18. 430,357 shares were traded during 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 the consensus estimate of ($0.07) by ($0.09). Alpha Metallurgical Resources had a return on equity of 22.65% and a net margin of 11.08%. The business had revenue of $617.30 million during the quarter, compared to the consensus estimate of $658.20 million. During the same quarter in the previous year, the business posted $12.88 earnings per share. The firm’s revenue was down 35.7% on a year-over-year basis.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Kenneth S. Courtis sold 10,621 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $228.73, for a total transaction of $2,429,341.33. Following the completion of the transaction, the director now directly owns 603,342 shares of the company’s stock, valued at approximately $138,002,415.66. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several institutional investors have recently bought and sold shares of AMR. Harbor Capital Advisors Inc. purchased a new position in Alpha Metallurgical Resources during the third quarter valued at $36,000. New Age Alpha Advisors LLC purchased a new position in Alpha Metallurgical Resources during the fourth quarter valued at $40,000. FNY Investment Advisers LLC purchased a new position in shares of Alpha Metallurgical Resources in the 4th quarter worth $50,000. PNC Financial Services Group Inc. grew its stake in shares of Alpha Metallurgical Resources by 127.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 289 shares of the energy company’s stock worth $58,000 after buying an additional 162 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Alpha Metallurgical Resources in the 4th quarter worth $60,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Trading Down 7.7 %

The firm has a market capitalization of $1.79 billion, a PE ratio of 5.03 and a beta of 1.43. The business’s 50 day simple moving average is $183.33 and its 200 day simple moving average is $210.14.

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.