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

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

The energy company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The company had revenue of $617.30 million during the quarter, compared to analyst estimates of $658.20 million. Alpha Metallurgical Resources had a net margin of 11.08% and a return on equity of 22.65%. The company’s quarterly revenue was down 35.7% compared to the same quarter last year. During the same period in the previous year, the company posted $12.88 EPS.

Analyst Ratings Changes

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

Insider Buying and Selling at Alpha Metallurgical Resources

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 transaction, the director now owns 603,342 shares in the company, valued at $138,002,415.66. This trade represents a 1.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. increased its position in Alpha Metallurgical Resources by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,150 shares of the energy company’s stock worth $230,000 after buying an additional 73 shares during the period. Bank of Montreal Can increased its position in Alpha Metallurgical Resources by 6.0% during the 4th quarter. Bank of Montreal Can now owns 1,318 shares of the energy company’s stock worth $264,000 after buying an additional 75 shares during the period. X Square Capital LLC increased its position in Alpha Metallurgical Resources by 2.9% during the 4th quarter. X Square Capital LLC now owns 3,005 shares of the energy company’s stock worth $601,000 after buying an additional 84 shares during the period. Swiss National Bank increased its position in Alpha Metallurgical Resources by 0.5% during the 4th quarter. Swiss National Bank now owns 21,700 shares of the energy company’s stock worth $4,343,000 after buying an additional 100 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in Alpha Metallurgical Resources during the 3rd quarter worth $36,000. Institutional investors own 84.29% of the company’s stock.

Alpha Metallurgical Resources Price Performance

The company has a market cap of $1.73 billion, a P/E ratio of 4.89 and a beta of 1.43. The stock has a 50-day moving average of $184.61 and a 200 day moving average of $211.25.

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.