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Alpha Metallurgical (AMR) Surges 10.4%: Is This an Indication of Further Gains?
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Alpha Metallurgical (AMR - Free Report) shares soared 10.4% in the last trading session to close at $194.99. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 22.8% loss over the past four weeks.
Alpha Metallurgical shares have gained on the expected rise in steel demand this year. The World Steel Association forecasts a 1.2% year-over-year increase in steel demand to reach 1,772 Mt in 2025. Steel production requires ample high-quality coal and nearly 70% of global steel production depends on it.
This company is expected to post quarterly earnings of $2.49 per share in its upcoming report, which represents a year-over-year change of -80.7%. Revenues are expected to be $677 million, down 29.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Alpha Metallurgical, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AMR going forward to see if this recent jump can turn into more strength down the road.
Alpha Metallurgical is part of the Zacks Mining - Miscellaneous industry. Teck Resources Ltd (TECK - Free Report) , another stock in the same industry, closed the last trading session 0.5% higher at $42.23. TECK has returned -4.7% in the past month.
For Teck Resources, the consensus EPS estimate for the upcoming report has changed +0.8% over the past month to $0.28. This represents a change of -72.6% from what the company reported a year ago. Teck Resources currently has a Zacks Rank of #3 (Hold).
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Alpha Metallurgical (AMR) Surges 10.4%: Is This an Indication of Further Gains?
Alpha Metallurgical (AMR - Free Report) shares soared 10.4% in the last trading session to close at $194.99. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 22.8% loss over the past four weeks.
Alpha Metallurgical shares have gained on the expected rise in steel demand this year. The World Steel Association forecasts a 1.2% year-over-year increase in steel demand to reach 1,772 Mt in 2025. Steel production requires ample high-quality coal and nearly 70% of global steel production depends on it.
This company is expected to post quarterly earnings of $2.49 per share in its upcoming report, which represents a year-over-year change of -80.7%. Revenues are expected to be $677 million, down 29.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Alpha Metallurgical, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AMR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Alpha Metallurgical is part of the Zacks Mining - Miscellaneous industry. Teck Resources Ltd (TECK - Free Report) , another stock in the same industry, closed the last trading session 0.5% higher at $42.23. TECK has returned -4.7% in the past month.
For Teck Resources, the consensus EPS estimate for the upcoming report has changed +0.8% over the past month to $0.28. This represents a change of -72.6% from what the company reported a year ago. Teck Resources currently has a Zacks Rank of #3 (Hold).