Alpha Natural Resources Falling Afer Earnings Miss (ANR)

Shares of Alpha Natural Resources, Inc. ANR are trading down 5.8% at $43.09 per share during the Wednesday afternoon trading session. The day's trading range for shares of Alpha Natural Resources, Inc has been between $42.65 and $44.61 per share. Analysts covering the company's stock give it a consensus price target of $57.06 per share. Volume of 5.1 million shares is already more than double the daily average volume of 2.2 million shares. Alpha Natural Resources, Inc. (ANR) announced on Wednesday morning that it missed consensus Wall Street expectations. Alpha Natural Resources, Inc announced 3rd quarter earnings per share of 58 cents, on revenue of $1 billion. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 79 cents per share, on revenue of $983.28 million. Chief executive officer Kevin Crutchfield said, "Alpha has consistently generated free cash flow throughout its history, and the third quarter was no exception. By the end of the quarter, Alpha had increased its total liquidity to approximately $1.6 billion. This affords Alpha tremendous financial flexibility, and we have consistently communicated to all of our stakeholders that we intend to use this flexibility to continue on a path of thoughtful and disciplined growth, with a focus on maximizing shareholder value and building upon our diverse and sustainable business model. I believe the benefits of this approach are evident in the consistent results Alpha has delivered throughout 2010." Read more from Benzinga's Company news.