Core Natural Resources (NYSE:CNR) Hits New 1-Year Low – Here’s Why

Core Natural Resources, Inc. (NYSE:CNR)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $71.69 and last traded at $71.69, with a volume of 142198 shares changing hands. The stock had previously closed at $74.15.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. B. Riley reduced their price objective on shares of Core Natural Resources from $140.00 to $136.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Benchmark reiterated a “buy” rating and set a $112.00 target price on shares of Core Natural Resources in a report on Tuesday, February 25th. Piper Sandler raised Core Natural Resources from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $165.00 to $150.00 in a research report on Monday, January 6th. StockNews.com started coverage on shares of Core Natural Resources in a research report on Thursday, January 30th. They set a “hold” rating on the stock. Finally, Jefferies Financial Group upgraded Core Natural Resources from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $165.00 to $150.00 in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.17.

Core Natural Resources Stock Performance

The stock has a market capitalization of $3.86 billion, a PE ratio of 7.44 and a beta of 1.74. The firm’s 50-day simple moving average is $114.82 and its two-hundred day simple moving average is $134.30. The company has a current ratio of 1.38, a quick ratio of 1.16 and a debt-to-equity ratio of 0.05.

Core Natural Resources (NYSE:CNR) last posted its earnings results on Thursday, February 20th. The energy company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $1.44. The firm had revenue of $595.29 million during the quarter, compared to analysts’ expectations of $493.50 million. Core Natural Resources had a net margin of 12.81% and a return on equity of 23.87%. On average, equities research analysts expect that Core Natural Resources, Inc. will post 11.4 earnings per share for the current fiscal year.

Core Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Monday, March 3rd. Core Natural Resources’s dividend payout ratio is currently 4.16%.

Institutional Trading of Core Natural Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its position in Core Natural Resources by 159.5% in the 3rd quarter. FMR LLC now owns 657,654 shares of the energy company’s stock valued at $90,862,000 after acquiring an additional 404,249 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Core Natural Resources during the fourth quarter worth about $28,790,000. Victory Capital Management Inc. lifted its stake in Core Natural Resources by 578.7% in the third quarter. Victory Capital Management Inc. now owns 265,133 shares of the energy company’s stock valued at $27,746,000 after buying an additional 226,069 shares in the last quarter. Holocene Advisors LP boosted its stake in Core Natural Resources by 422.4% in the 3rd quarter. Holocene Advisors LP now owns 250,349 shares of the energy company’s stock worth $34,588,000 after purchasing an additional 202,425 shares during the period. Finally, Trium Capital LLP acquired a new position in shares of Core Natural Resources during the fourth quarter worth about $21,109,000. Institutional investors own 86.54% of the company’s stock.

Core Natural Resources Company Profile

Core Natural Resources, Inc, together with its subsidiaries, produces and sells bituminous coal in the United States and internationally. It operates through two segments, Pennsylvania Mining Complex (PAMC) and CONSOL Marine Terminal. The company’s PAMC segment engages in the mining, preparing, and marketing of bituminous coal to power generators, industrial end-users, and metallurgical end-users.