Alpha Metallurgical Resources (NYSE:AMR) Shares Gap Down to $332.77

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $332.77, but opened at $309.63. Alpha Metallurgical Resources shares last traded at $324.00, with a volume of 72,405 shares traded.

Wall Street Analyst Weigh In

Separately, B. Riley lowered their price objective on shares of Alpha Metallurgical Resources from $381.00 to $374.00 and set a “buy” rating for the company in a research note on Monday, April 15th.

Alpha Metallurgical Resources Trading Down 10.9 %

The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 6.38 and a beta of 1.38. The firm has a 50 day moving average price of $337.63 and a two-hundred day moving average price of $324.30.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Monday, February 26th. The energy company reported $12.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.78 by $4.10. Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. The firm had revenue of $959.90 million for the quarter, compared to analysts’ expectations of $796.65 million. During the same period in the previous year, the company posted $13.37 earnings per share. Alpha Metallurgical Resources’s revenue was up 16.6% compared to the same quarter last year. As a group, research analysts forecast that Alpha Metallurgical Resources, Inc. will post 29.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David J. Stetson sold 30,694 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $392.30, for a total transaction of $12,041,256.20. Following the completion of the sale, the director now owns 26,054 shares in the company, valued at approximately $10,220,984.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Kenneth S. Courtis sold 22,802 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $302.81, for a total value of $6,904,673.62. Following the completion of the sale, the director now owns 638,234 shares in the company, valued at $193,263,637.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David J. Stetson sold 30,694 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $392.30, for a total value of $12,041,256.20. Following the completion of the sale, the director now directly owns 26,054 shares of the company’s stock, valued at approximately $10,220,984.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 153,971 shares of company stock worth $55,479,986. Insiders own 16.40% of the company’s stock.

Institutional Trading of Alpha Metallurgical Resources

Hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new position in Alpha Metallurgical Resources in the 4th quarter valued at $2,465,000. Raymond James & Associates raised its holdings in Alpha Metallurgical Resources by 203.8% during the 3rd quarter. Raymond James & Associates now owns 9,546 shares of the energy company’s stock worth $2,479,000 after purchasing an additional 6,404 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new position in Alpha Metallurgical Resources during the 4th quarter valued at about $2,302,000. Invesco Ltd. boosted its stake in shares of Alpha Metallurgical Resources by 180.9% in the 3rd quarter. Invesco Ltd. now owns 115,816 shares of the energy company’s stock valued at $30,081,000 after purchasing an additional 74,583 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Alpha Metallurgical Resources during the 4th quarter worth approximately $2,000,000. 84.29% of the stock is owned by institutional investors.

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.