Alpha Metallurgical Resources (NYSE:AMR) Shares Gap Up to $280.53

Alpha Metallurgical Resources, Inc. (NYSE:AMR) shares gapped up before the market opened on Monday . The stock had previously closed at $280.53, but opened at $298.84. Alpha Metallurgical Resources shares last traded at $314.60, with a volume of 75,970 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AMR shares. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a research note on Tuesday, May 7th. B. Riley upped their price objective on Alpha Metallurgical Resources from $374.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th.

Alpha Metallurgical Resources Price Performance

The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 7.59 and a beta of 1.36. The business’s 50-day moving average price is $304.72 and its two-hundred day moving average price is $337.44.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Monday, May 6th. The energy company reported $9.59 earnings per share for the quarter, missing the consensus estimate of $9.61 by ($0.02). The business had revenue of $864.07 million during the quarter, compared to analyst estimates of $845.35 million. Alpha Metallurgical Resources had a net margin of 16.89% and a return on equity of 36.77%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $17.01 earnings per share. As a group, sell-side analysts forecast that Alpha Metallurgical Resources, Inc. will post 28.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Roger Lee Nicholson sold 3,593 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $290.16, for a total transaction of $1,042,544.88. Following the completion of the sale, the chief accounting officer now directly owns 6,127 shares of the company’s stock, valued at approximately $1,777,810.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 16.40% of the stock is currently owned by insiders.

Institutional Trading of Alpha Metallurgical Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale grew its stake in Alpha Metallurgical Resources by 248.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,385 shares of the energy company’s stock worth $450,000 after buying an additional 988 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of Alpha Metallurgical Resources by 12.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 3,500 shares of the energy company’s stock valued at $1,159,000 after acquiring an additional 400 shares during the period. Invst LLC acquired a new position in shares of Alpha Metallurgical Resources during the 1st quarter valued at $681,000. Vima LLC purchased a new stake in Alpha Metallurgical Resources during the 1st quarter worth $195,000. Finally, Comerica Bank increased its holdings in Alpha Metallurgical Resources by 13.5% in the 1st quarter. Comerica Bank now owns 6,156 shares of the energy company’s stock valued at $2,039,000 after purchasing an additional 734 shares in the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

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.