Alpha Natural Resources, Inc. (NYSE:ANR) shares increase by 2.83%

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Dallas, Texas 08/06/2013 (Financialstrend) – At the end of last week Alpha Natural Resources, Inc. (NYSE:ANR) released quarterly result which had been marginally at the expectations, it reported a loss of 59 cents per share where the expectation was a loss of 60 cents by analysts at Zacks. The GAAP loss was 84 cents per share when compared to the earnings of $10.14 per share in the same period last year; total revenue was reported as $1.35 billion where analysts estimated to be at $1.85 billion. Earlier the company’s subsidiary Cumberland Coal Resources closed its business in Greene County, PA mine due to adverse geological conditions in that place, the stoppage is said to be for a short period during which employees will be laid off, only vital employees will be entertained in this time period.

Following this quarterly results shares of the company downgraded by FBR Capital from “outperform” to “market perform”. Nine equity research analysts have given “strong buy”, six rated “holds” and three have given “sell” rating for the shares of Alpha Natural Resources. The company recently stopped production in West Virginia mine, employees here also will be reduced.

There had been a gain of 2.83% in the shares of Alpha Natural Resources, Inc. (NYSE: ANR) which closed at $5.09 per share on Monday. The stock had presented intraday fluctuations on the range of $4.78 to $5.13 per share, after opening at $4.81 for the day. The company had recorded 52 week low at $4.78 and 52 week high at $10.74 per share. There are 220 million shares outstanding with a market cap of $1.12 billion and an institutional ownership of 77% of the total capital. The trading volume on Monday was 11.64 million shares and the average volume is at 11 million shares per day.

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