Alpha Metallurgical Resources (NYSE:AMR) Stock Price Down 6% – Here’s Why

Alpha Metallurgical Resources, Inc. (NYSE:AMR) shares were down 6% during trading on Wednesday . The company traded as low as $133.27 and last traded at $133.09. Approximately 156,791 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 215,083 shares. The stock had previously closed at $141.59.

Alpha Metallurgical Resources Trading Down 8.0 %

The business has a 50 day simple moving average of $174.15 and a two-hundred day simple moving average of $205.15. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 4.78 and a beta of 1.50.

Alpha Metallurgical Resources (NYSE:AMR) last issued its quarterly earnings results on Friday, February 28th. The energy company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The company had revenue of $617.30 million during the quarter, compared to the consensus estimate of $658.20 million. Alpha Metallurgical Resources had a return on equity of 22.65% and a net margin of 11.08%. The firm’s quarterly revenue was down 35.7% on a year-over-year basis. During the same quarter last year, the firm posted $12.88 EPS. Research analysts anticipate that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current fiscal year.

Insider Activity at Alpha Metallurgical Resources

In other news, Director Kenneth S. Courtis sold 10,621 shares of the business’s stock in a transaction that occurred 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 directly owns 603,342 shares in the company, valued at approximately $138,002,415.66. The trade was a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.00% of the stock is owned by corporate insiders.

Institutional Trading of Alpha Metallurgical Resources

Several institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its position in shares of Alpha Metallurgical Resources by 69.7% during the 4th quarter. Empowered Funds LLC now owns 12,139 shares of the energy company’s stock valued at $2,429,000 after buying an additional 4,985 shares during the last quarter. Barclays PLC grew its holdings in shares of Alpha Metallurgical Resources by 309.2% during the third quarter. Barclays PLC now owns 18,646 shares of the energy company’s stock valued at $4,402,000 after purchasing an additional 14,089 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Alpha Metallurgical Resources during the 4th quarter worth approximately $3,564,000. Victory Capital Management Inc. lifted its holdings in shares of Alpha Metallurgical Resources by 22.4% in the 3rd quarter. Victory Capital Management Inc. now owns 15,441 shares of the energy company’s stock worth $3,647,000 after purchasing an additional 2,823 shares during the last quarter. Finally, Impala Asset Management LLC acquired a new position in Alpha Metallurgical Resources during the 3rd quarter valued at approximately $1,181,000. Institutional investors 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.