Alpha Metallurgical Resources (NYSE:AMR) Releases Quarterly Earnings Results, Misses Expectations By $1.54 EPS

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) posted its quarterly earnings data on Friday, May 9th. The energy company reported ($2.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($1.54), Zacks reports. Alpha Metallurgical Resources had a net margin of 11.08% and a return on equity of 22.65%. The company had revenue of $531.96 million during the quarter, compared to the consensus estimate of $586.15 million. During the same quarter last year, the business earned $9.59 earnings per share. The company's revenue was down 38.4% on a year-over-year basis.

Alpha Metallurgical Resources Price Performance

Shares of Alpha Metallurgical Resources stock traded up $4.12 during trading on Friday, hitting $125.61. The stock had a trading volume of 222,825 shares, compared to its average volume of 236,447. The business has a fifty day moving average of $123.43 and a two-hundred day moving average of $173.48. Alpha Metallurgical Resources has a fifty-two week low of $100.00 and a fifty-two week high of $334.72. The firm has a market cap of $1.64 billion, a P/E ratio of 4.61 and a beta of 0.72.

Wall Street Analysts Forecast Growth

Separately, B. Riley dropped their target price on Alpha Metallurgical Resources from $183.00 to $181.00 and set a "buy" rating on the stock in a report on Thursday.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AMR. Royal Bank of Canada boosted its position in shares of Alpha Metallurgical Resources by 55.0% during the 1st quarter. Royal Bank of Canada now owns 2,029 shares of the energy company's stock valued at $254,000 after purchasing an additional 720 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Alpha Metallurgical Resources by 4.7% in the 1st 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. Finally, Millennium Management LLC lifted its stake 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 valued at $13,290,000 after purchasing an additional 71,653 shares during the last quarter. 84.29% of the stock is owned by institutional investors and hedge funds.

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.