Core Natural Resources (NYSE:CNR) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Core Natural Resources (NYSE:CNR) from a hold rating to a strong sell rating in a report issued on Tuesday morning,Zacks.com reports.

Other research analysts also recently issued reports about the company. Wall Street Zen upgraded Core Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. UBS Group raised their price objective on Core Natural Resources from $109.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Weiss Ratings upgraded Core Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Finally, B. Riley Financial restated a “buy” rating on shares of Core Natural Resources in a report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $116.67.

Core Natural Resources Trading Down 1.0%

Shares of NYSE CNR opened at $83.00 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.21 and a current ratio of 1.70. The business’s 50 day moving average price is $94.07 and its 200-day moving average price is $90.13. Core Natural Resources has a fifty-two week low of $64.15 and a fifty-two week high of $114.80. The company has a market cap of $4.18 billion, a price-to-earnings ratio of -68.03 and a beta of 0.14.

Core Natural Resources (NYSE:CNR) last released its quarterly earnings data on Thursday, May 7th. The energy company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.28 by $0.13. The company had revenue of $899.48 million for the quarter, compared to the consensus estimate of $1.06 billion. Core Natural Resources had a negative return on equity of 1.69% and a negative net margin of 1.49%.Core Natural Resources’s quarterly revenue was up 94.7% on a year-over-year basis. During the same period last year, the business posted $3.39 EPS. On average, sell-side analysts expect that Core Natural Resources will post 1.7 earnings per share for the current year.

Core Natural Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a $0.10 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. Core Natural Resources’s dividend payout ratio (DPR) is currently -32.79%.

Insider Activity

In other news, CEO James A. Brock sold 40,760 shares of Core Natural Resources stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $101.15, for a total value of $4,122,874.00. Following the transaction, the chief executive officer directly owned 100,000 shares in the company, valued at approximately $10,115,000. This trade represents a 28.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO John Rothka sold 3,800 shares of Core Natural Resources stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $91.62, for a total value of $348,156.00. Following the completion of the transaction, the chief accounting officer owned 6,190 shares in the company, valued at $567,127.80. This represents a 38.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 51,560 shares of company stock worth $5,118,890. 2.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd acquired a new stake in shares of Core Natural Resources in the 3rd quarter worth $4,369,000. Victory Capital Management Inc. grew its stake in Core Natural Resources by 2.2% during the 3rd quarter. Victory Capital Management Inc. now owns 573,047 shares of the energy company’s stock valued at $47,838,000 after purchasing an additional 12,515 shares during the last quarter. Krilogy Financial LLC purchased a new stake in Core Natural Resources during the 3rd quarter valued at about $1,031,000. Old West Investment Management LLC purchased a new stake in Core Natural Resources during the 3rd quarter valued at about $8,724,000. Finally, JPMorgan Chase & Co. grew its stake in Core Natural Resources by 27.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 652,379 shares of the energy company’s stock valued at $54,461,000 after purchasing an additional 139,188 shares during the last quarter. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

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. This segment includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine, and the central preparation plant.