Alpha Metallurgical Resources (NYSE:AMR) Issues Earnings Results, Misses Estimates By $0.07 EPS

Alpha Metallurgical Resources (NYSE:AMR) posted its quarterly earnings results on Thursday. The energy company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.07), Zacks reports. The business had revenue of $526.78 million during the quarter, compared to analysts’ expectations of $543.77 million. Alpha Metallurgical Resources had a negative net margin of 1.57% and a negative return on equity of 2.28%. Alpha Metallurgical Resources’s revenue for the quarter was down 21.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 earnings per share.

Alpha Metallurgical Resources Trading Down 1.6%

NYSE:AMR traded down $2.86 during trading hours on Thursday, reaching $171.13. 640,184 shares of the company were exchanged, compared to its average volume of 273,004. The firm has a market cap of $2.23 billion, a PE ratio of -60.05 and a beta of 0.89. Alpha Metallurgical Resources has a twelve month low of $97.41 and a twelve month high of $255.04. The stock’s 50-day moving average is $159.46 and its 200-day moving average is $135.82.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AMR shares. Jefferies Financial Group boosted their price objective on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a “hold” rating in a report on Monday, August 11th. Wall Street Zen upgraded Alpha Metallurgical Resources from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Alpha Metallurgical Resources in a research report on Thursday, October 30th. Finally, B. Riley dropped their price objective on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a “buy” rating on the stock in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Alpha Metallurgical Resources currently has a consensus rating of “Hold” and an average target price of $160.50.

Insider Transactions at Alpha Metallurgical Resources

In other Alpha Metallurgical Resources news, CFO Joshua Todd Munsey sold 2,135 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $157.00, for a total transaction of $335,195.00. Following the completion of the transaction, the chief financial officer owned 4,466 shares of the company’s stock, valued at $701,162. This represents a 32.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jason E. Whitehead sold 12,004 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $161.84, for a total value of $1,942,727.36. Following the completion of the sale, the chief operating officer directly owned 9,673 shares in the company, valued at $1,565,478.32. This represents a 55.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AMR. State Street Corp grew its holdings in shares of Alpha Metallurgical Resources by 27.2% during the second quarter. State Street Corp now owns 865,934 shares of the energy company’s stock worth $97,400,000 after buying an additional 185,281 shares in the last quarter. Millennium Management LLC boosted its position in Alpha Metallurgical Resources by 208.0% during the first quarter. Millennium Management LLC now owns 106,107 shares of the energy company’s stock worth $13,290,000 after acquiring an additional 71,653 shares during the last quarter. Marshall Wace LLP purchased a new stake in Alpha Metallurgical Resources during the 2nd quarter valued at about $5,284,000. Bank of America Corp DE raised its holdings in Alpha Metallurgical Resources by 74.1% in the 2nd quarter. Bank of America Corp DE now owns 79,772 shares of the energy company’s stock valued at $8,973,000 after acquiring an additional 33,958 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Alpha Metallurgical Resources by 103.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 56,972 shares of the energy company’s stock worth $6,408,000 after purchasing an additional 28,922 shares in the last quarter. 84.29% of the stock is owned by institutional investors and hedge funds.

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.