Core Natural Resources (NYSE:CNR) Stock Price Down 5.4% – What’s Next?

Shares of Core Natural Resources, Inc. (NYSE:CNR) fell 5.4% on Wednesday . The stock traded as low as $72.24 and last traded at $72.31. 582,123 shares were traded during mid-day trading, a decline of 49% from the average session volume of 1,141,106 shares. The stock had previously closed at $76.41.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CNR. Piper Sandler raised shares of Core Natural Resources from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $165.00 to $150.00 in a research note on Monday, January 6th. Benchmark reaffirmed a “buy” rating and issued a $112.00 target price on shares of Core Natural Resources in a research report on Tuesday, February 25th. Jefferies Financial Group raised Core Natural Resources from a “hold” rating to a “buy” 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 initiated coverage on Core Natural Resources in a report on Thursday, January 30th. They issued a “hold” rating for the company. Finally, B. Riley dropped their target price on shares of 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.17.

Core Natural Resources Price Performance

The firm has a fifty day moving average of $108.10 and a 200 day moving average of $132.42. The company has a market capitalization of $3.84 billion, a P/E ratio of 7.40 and a beta of 1.65. 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 issued its earnings results on Thursday, February 20th. The energy company reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $1.44. The company had revenue of $595.29 million for 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 anticipate that Core Natural Resources, Inc. will post 11.4 EPS for the current 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.56%. Core Natural Resources’s payout ratio is currently 4.16%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Louisiana State Employees Retirement System grew its holdings in shares of Core Natural Resources by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 8,800 shares of the energy company’s stock valued at $1,243,000 after purchasing an additional 100 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Core Natural Resources by 82.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 222 shares of the energy company’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Core Natural Resources by 63.8% in the 4th quarter. Fortitude Family Office LLC now owns 267 shares of the energy company’s stock worth $28,000 after purchasing an additional 104 shares during the period. GAMMA Investing LLC increased its position in shares of Core Natural Resources by 340.5% during the 4th quarter. GAMMA Investing LLC now owns 185 shares of the energy company’s stock valued at $26,000 after purchasing an additional 143 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Core Natural Resources by 226.7% during the 4th quarter. Jones Financial Companies Lllp now owns 245 shares of the energy company’s stock valued at $35,000 after buying an additional 170 shares during the period. Hedge funds and other institutional investors own 86.54% of the company’s stock.

About Core Natural Resources

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.