Alpha Metallurgical Resources (NYSE:AMR) Shares Gap Up – Here’s Why

Alpha Metallurgical Resources, Inc. (NYSE:AMR)’s share price 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 Trading Up 6.2 %

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

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

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Alpha Metallurgical Resources during the fourth quarter worth about $26,332,000. Jacobs Levy Equity Management Inc. purchased a new stake in Alpha Metallurgical Resources in the fourth quarter valued at approximately $6,958,000. GAMMA Investing LLC boosted its holdings in shares of Alpha Metallurgical Resources by 11,100.3% in the first quarter. GAMMA Investing LLC now owns 34,945 shares of the energy company’s stock valued at $4,377,000 after acquiring an additional 34,633 shares during the period. American Century Companies Inc. grew its position in shares of Alpha Metallurgical Resources by 9.8% during the fourth quarter. American Century Companies Inc. now owns 359,006 shares of the energy company’s stock worth $71,844,000 after acquiring an additional 32,027 shares during the last quarter. Finally, Nomura Holdings Inc. increased its holdings in shares of Alpha Metallurgical Resources by 1,706.0% in the 4th quarter. Nomura Holdings Inc. now owns 30,702 shares of the energy company’s stock valued at $6,144,000 after acquiring an additional 29,002 shares during the period. 84.29% of the stock is currently owned by institutional investors and hedge funds.

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.