Alpha Metallurgical Resources (NYSE:AMR) Stock Price Down 9.7% After Earnings Miss

Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) were down 9.7% on Friday following a weaker than expected earnings announcement. The company traded as low as $135.06 and last traded at $134.18. Approximately 430,357 shares changed 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). Alpha Metallurgical Resources had a return on equity of 22.65% and a net margin of 11.08%. The firm had revenue of $617.30 million during the quarter, compared to analyst estimates of $658.20 million. During the same quarter last year, the business posted $12.88 EPS. The firm's revenue was down 35.7% on a year-over-year basis.

Analyst Ratings Changes

Separately, Benchmark reiterated a "hold" rating on shares of Alpha Metallurgical Resources in a research 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 firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $228.73, for a total value of $2,429,341.33. Following the completion of the sale, the director now owns 603,342 shares of the company's stock, valued at approximately $138,002,415.66. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.00% of the stock is owned by corporate insiders.

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Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. acquired a new position in Alpha Metallurgical Resources during the third quarter worth about $36,000. New Age Alpha Advisors LLC acquired a new position in Alpha Metallurgical Resources during the fourth quarter worth $40,000. FNY Investment Advisers LLC acquired a new position in Alpha Metallurgical Resources during the fourth quarter worth $50,000. PNC Financial Services Group Inc. raised its holdings in Alpha Metallurgical Resources by 127.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 289 shares of the energy company's stock worth $58,000 after purchasing an additional 162 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Alpha Metallurgical Resources during the fourth quarter worth $60,000. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Stock Up 0.3 %

The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 4.84 and a beta of 1.43. The firm has a fifty day moving average of $180.56 and a 200-day moving average of $208.51.

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.