Warrior Met Coal Inc. (HCC) shares reached an all-time high of $110.44 on Friday, capping an 82.58% gain over the past year as second-quarter earnings and revenue exceeded analyst expectations.
The Birmingham, Alabama-based coal producer reported adjusted earnings of $1.65 per share, topping the $1.50 estimate from Wall Street. Revenue totaled $509.7 million, surpassing projections of $483.1 million. Net income rose to $87 million from $6 million in the same period last year.
The company attributed its strong performance to higher volumes, improved margins, and the ramp-up of its Blue Creek mine in Alabama. Warrior Met’s market capitalization now stands at approximately $5.8 billion, with the stock trading at a price-to-earnings ratio of 26. Analysts at InvestingPro noted the stock may be overvalued relative to its fair value estimate.
Warrior Met’s shares have climbed steadily this year, supported by robust demand for metallurgical coal used in steelmaking and tight supply conditions. The stock’s recent surge pushed it to a new 52-week high, according to InvestingPro data.
