Alpha Metallurgical Resources (NYSE:AMR) Announces Quarterly Earnings Results, Beats Estimates By $2.00 EPS

Key Points

• Alpha Metallurgical Resources reported a quarterly earnings per share of ($0.38), surpassing analyst estimates of ($1.60) by $1.22.
• The company's quarterly revenue declined by 31.6% year-over-year, significantly down from earnings of $4.49 per share during the same period last year.
• Shares of AMR increased by 15.1% during trading, reaching $149.06, following the earnings announcement.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) issued its quarterly earnings data on Friday. The energy company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.38) by $2.00, Briefing.com reports. Alpha Metallurgical Resources had a negative return on equity of 2.28% and a negative net margin of 1.57%. The business had revenue of $550.27 million for the quarter, compared to the consensus estimate of $552.15 million. During the same period in the prior year, the business posted $4.49 earnings per share. The company's quarterly revenue was down 31.6% compared to the same quarter last year.

Alpha Metallurgical Resources Stock Performance

NYSE AMR traded up $9.48 during trading on Tuesday, hitting $165.62. The stock had a trading volume of 160,561 shares, compared to its average volume of 327,518. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -58.07 and a beta of 0.59. Alpha Metallurgical Resources has a one year low of $97.41 and a one year high of $257.99. The stock has a 50 day simple moving average of $118.01 and a 200 day simple moving average of $129.98.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Jefferies Financial Group upped their price objective on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a "hold" rating in a research report on Monday. B. Riley decreased their price objective on Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating on the stock in a research report on Tuesday, August 5th. Finally, Wall Street Zen downgraded shares of Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Institutional Trading of Alpha Metallurgical Resources

Several institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of Alpha Metallurgical Resources by 55.0% during the first quarter. Royal Bank of Canada now owns 2,029 shares of the energy company's stock worth $254,000 after acquiring an additional 720 shares during the period. Creative Planning grew its stake in Alpha Metallurgical Resources by 14.5% in the second quarter. Creative Planning now owns 3,465 shares of the energy company's stock worth $390,000 after purchasing an additional 438 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Alpha Metallurgical Resources by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,548 shares of the energy company's stock worth $820,000 after purchasing an additional 295 shares in the last quarter. Intech Investment Management LLC grew its stake in Alpha Metallurgical Resources by 48.3% in the first quarter. Intech Investment Management LLC now owns 13,149 shares of the energy company's stock worth $1,647,000 after purchasing an additional 4,281 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Alpha Metallurgical Resources by 208.0% in the first quarter. Millennium Management LLC now owns 106,107 shares of the energy company's stock worth $13,290,000 after purchasing an additional 71,653 shares in the last quarter. Institutional investors own 84.29% of the company's stock.

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.