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

Alpha Metallurgical Resources, Inc. (NYSE:AMR) 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 traded hands 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 analysts’ expectations of $658.20 million. During the same quarter in the previous year, the company posted $12.88 earnings per share. The company’s quarterly revenue was down 35.7% compared to the same quarter last year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis sold 10,621 shares of the stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.00% of the stock is owned by insiders.

Institutional Trading of Alpha Metallurgical Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. bought a new stake in Alpha Metallurgical Resources during the 3rd quarter valued at $36,000. New Age Alpha Advisors LLC bought a new stake in Alpha Metallurgical Resources during the 4th quarter valued at $40,000. FNY Investment Advisers LLC bought a new stake in Alpha Metallurgical Resources during the 4th quarter valued at $50,000. PNC Financial Services Group Inc. boosted its position in Alpha Metallurgical Resources by 127.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 289 shares of the energy company’s stock valued at $58,000 after acquiring an additional 162 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Alpha Metallurgical Resources during the 4th quarter valued at $60,000. Institutional investors own 84.29% of the company’s stock.

Alpha Metallurgical Resources Trading Down 7.7 %

The firm has a market cap of $1.79 billion, a P/E ratio of 5.03 and a beta of 1.43. The firm has a 50-day simple moving average of $183.33 and a 200-day simple moving average of $210.46.

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.