Alpha Metallurgical Resources (NYSE:AMR) Shares Gap Up – Should You Buy?

Alpha Metallurgical Resources, Inc. (NYSE:AMR) shares gapped up prior to trading on Tuesday . The stock had previously closed at $109.54, but opened at $120.59. Alpha Metallurgical Resources shares last traded at $117.50, with a volume of 23,496 shares trading hands.

Alpha Metallurgical Resources Price Performance

The company’s fifty day simple moving average is $148.82 and its 200-day simple moving average is $193.41. The firm has a market capitalization of $1.52 billion, a PE ratio of 4.28 and a beta of 1.08.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. New Age Alpha Advisors LLC purchased a new stake in Alpha Metallurgical Resources in the 4th quarter worth approximately $40,000. AdvisorNet Financial Inc lifted its holdings in Alpha Metallurgical Resources by 214.3% during the 1st quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company’s stock worth $28,000 after buying an additional 150 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Alpha Metallurgical Resources in the fourth quarter worth approximately $50,000. PNC Financial Services Group Inc. grew its holdings in Alpha Metallurgical Resources by 127.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 289 shares of the energy company’s stock worth $58,000 after acquiring an additional 162 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Alpha Metallurgical Resources in the 4th quarter valued at approximately $60,000. Hedge funds and other 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.