Core Natural Resources (NYSE:CNR) Trading Up 3.8% – Here’s Why

Core Natural Resources, Inc. (NYSE:CNR) shares traded up 3.8% during mid-day trading on Tuesday . The company traded as high as $78.28 and last traded at $77.60. 177,043 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 1,107,774 shares. The stock had previously closed at $74.73.

Analyst Ratings Changes

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

Core Natural Resources Price Performance

The company has a market capitalization of $4.14 billion, a P/E ratio of 8.07 and a beta of 1.65. The company has a quick ratio of 1.16, a current ratio of 1.38 and a debt-to-equity ratio of 0.05. The business has a 50 day simple moving average of $93.85 and a 200-day simple moving average of $128.16.

Core Natural Resources (NYSE:CNR) last issued its quarterly earnings data on Thursday, February 20th. The energy company reported $3.07 earnings per share for the quarter, beating the consensus estimate of $1.63 by $1.44. Core Natural Resources had a net margin of 12.81% and a return on equity of 23.87%. The firm had revenue of $595.29 million for the quarter, compared to the consensus estimate of $493.50 million. Analysts predict that Core Natural Resources, Inc. will post 11.4 EPS for the current fiscal year.

Core Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Monday, March 3rd. Core Natural Resources’s dividend payout ratio (DPR) is 4.16%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Core Natural Resources by 159.5% during the third quarter. FMR LLC now owns 657,654 shares of the energy company’s stock valued at $90,862,000 after purchasing an additional 404,249 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Core Natural Resources during the 4th quarter worth about $28,790,000. Holocene Advisors LP raised its position in shares of Core Natural Resources by 422.4% during the 3rd quarter. Holocene Advisors LP now owns 250,349 shares of the energy company’s stock worth $34,588,000 after buying an additional 202,425 shares in the last quarter. Trium Capital LLP acquired a new stake in shares of Core Natural Resources in the 4th quarter worth approximately $21,109,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Core Natural Resources in the third quarter valued at approximately $9,828,000. Institutional investors and hedge funds 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.