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

Alpha Metallurgical Resources, Inc. (NYSE:AMR) traded down 9.7% during trading on Friday following a dissappointing earnings announcement. The company traded as low as $135.06 and last traded at $134.18. 430,357 shares changed 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The firm had revenue of $617.30 million for the quarter, compared to analysts’ expectations of $658.20 million. Alpha Metallurgical Resources had a net margin of 11.08% and a return on equity of 22.65%. The firm’s quarterly revenue was down 35.7% on a year-over-year basis. During the same period in the prior year, the company earned $12.88 EPS.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director Kenneth S. Courtis sold 10,621 shares of the stock in a transaction dated 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 directly owns 603,342 shares in the company, valued at approximately $138,002,415.66. This represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 16.40% of the company’s stock.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. lifted its position in Alpha Metallurgical Resources by 30.2% during the third quarter. Pacer Advisors Inc. now owns 798,584 shares of the energy company’s stock valued at $188,610,000 after purchasing an additional 185,376 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Alpha Metallurgical Resources by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 736,379 shares of the energy company’s stock valued at $147,366,000 after acquiring an additional 28,225 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Alpha Metallurgical Resources by 0.8% in the fourth quarter. Renaissance Technologies LLC now owns 540,215 shares of the energy company’s stock valued at $108,108,000 after acquiring an additional 4,200 shares in the last quarter. Dalal Street LLC lifted its position in shares of Alpha Metallurgical Resources by 1.6% in the fourth quarter. Dalal Street LLC now owns 487,251 shares of the energy company’s stock valued at $97,509,000 after acquiring an additional 7,553 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Alpha Metallurgical Resources by 9.8% in the fourth quarter. American Century Companies Inc. now owns 359,006 shares of the energy company’s stock valued at $71,844,000 after acquiring an additional 32,027 shares in the last quarter. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Alpha Metallurgical Resources Price Performance

The company has a 50-day moving average price of $184.61 and a 200 day moving average price of $211.25. The firm has a market capitalization of $1.73 billion, a PE ratio of 4.89 and a beta of 1.43.

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.