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

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) shares 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.

Analyst Upgrades and Downgrades

Separately, B. Riley lowered their price objective on shares of Alpha Metallurgical Resources from $381.00 to $374.00 and set a "buy" rating on the stock in a report on Monday, April 15th.

Alpha Metallurgical Resources Price Performance

The company's fifty day simple moving average is $334.71 and its two-hundred day simple moving average is $324.80. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 6.09 and a beta of 1.38.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last released 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 company had revenue of $959.90 million for the quarter, compared to analyst estimates of $796.65 million. During the same period last year, the firm earned $13.37 earnings per share. The firm's revenue was up 16.6% on a year-over-year basis. On average, analysts forecast that Alpha Metallurgical Resources, Inc. will post 29.82 earnings per share for the current year.

Insider Activity at Alpha Metallurgical Resources

In related news, Director Kenneth S. Courtis sold 22,802 shares of the firm's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $302.81, for a total transaction of $6,904,673.62. Following the transaction, the director now directly owns 638,234 shares of the company's stock, valued at $193,263,637.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kenneth S. Courtis sold 22,802 shares of the firm's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $302.81, for a total transaction 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 accessible through this link. Also, Director David J. Stetson sold 30,694 shares of the firm's stock in a transaction dated 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 sale, the director now 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. Insiders have sold 153,971 shares of company stock valued at $55,479,986 over the last ninety days. Corporate insiders own 16.40% of the company's stock.

Institutional Trading of Alpha Metallurgical Resources

Large investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC purchased a new position in shares of Alpha Metallurgical Resources in the third quarter worth about $41,000. Raymond James & Associates increased its stake in shares of Alpha Metallurgical Resources by 203.8% in the third 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Alpha Metallurgical Resources by 20.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,376 shares of the energy company's stock worth $617,000 after purchasing an additional 396 shares in the last quarter. Meritage Portfolio Management increased its stake in shares of Alpha Metallurgical Resources by 5.6% in the third quarter. Meritage Portfolio Management now owns 1,724 shares of the energy company's stock worth $448,000 after purchasing an additional 92 shares in the last quarter. Finally, M&T Bank Corp purchased a new position in shares of Alpha Metallurgical Resources in the third quarter worth about $259,000. Hedge funds and other 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.