Alpha Metallurgical Resources (NYSE:AMR) Shares Gap Down on Disappointing Earnings

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $208.30, but opened at $204.00. Alpha Metallurgical Resources shares last traded at $207.20, with a volume of 57,252 shares changing hands.

The energy company reported $0.29 EPS for the quarter, missing the consensus estimate of $1.60 by ($1.31). The firm had revenue of $671.90 million for the quarter, compared to analysts’ expectations of $672.95 million. Alpha Metallurgical Resources had a return on equity of 28.63% and a net margin of 13.52%. The firm’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.65 earnings per share.

Wall Street Analysts Forecast Growth

AMR has been the topic of a number of research reports. Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Wednesday, October 16th. B. Riley lowered their target price on shares of Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating for the company in a research note on Friday, September 6th.

Institutional Investors Weigh In On Alpha Metallurgical Resources

A number of institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC raised its holdings in shares of Alpha Metallurgical Resources by 19.3% during the first quarter. Janus Henderson Group PLC now owns 27,174 shares of the energy company’s stock valued at $8,998,000 after acquiring an additional 4,387 shares during the last quarter. Stratos Wealth Advisors LLC grew its holdings in shares of Alpha Metallurgical Resources by 50.3% during the third quarter. Stratos Wealth Advisors LLC now owns 9,878 shares of the energy company’s stock worth $2,333,000 after buying an additional 3,305 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Alpha Metallurgical Resources in the first quarter worth about $677,000. Invst LLC purchased a new stake in Alpha Metallurgical Resources during the 1st quarter valued at about $681,000. Finally, Jade Capital Advisors LLC raised its holdings in Alpha Metallurgical Resources by 180.0% in the 3rd quarter. Jade Capital Advisors LLC now owns 7,000 shares of the energy company’s stock valued at $1,653,000 after acquiring an additional 4,500 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Stock Performance

The stock’s 50 day simple moving average is $216.68 and its two-hundred day simple moving average is $268.70. The firm has a market capitalization of $2.64 billion, a PE ratio of 6.03 and a beta of 1.30.

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.