Core Natural Resources (NYSE:CNR) Trading Down 4.4% – What’s Next?

Core Natural Resources, Inc. (NYSE:CNR)’s stock price dropped 4.4% during mid-day trading on Wednesday . The company traded as low as $74.32 and last traded at $74.50. Approximately 75,519 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 1,085,159 shares. The stock had previously closed at $77.92.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CNR. Benchmark reissued a “buy” rating and issued a $112.00 price target on shares of Core Natural Resources in a report on Tuesday, February 25th. Jefferies Financial Group raised shares of Core Natural Resources from a “hold” rating to a “buy” rating and lowered their price target for the company from $165.00 to $150.00 in a report on Monday, January 6th. B. Riley reduced their price target on Core Natural Resources from $140.00 to $136.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Piper Sandler raised Core Natural Resources from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $165.00 to $150.00 in a research note on Monday, January 6th. Finally, StockNews.com started coverage on shares of Core Natural Resources in a report on Thursday, January 30th. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Core Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.17.

Core Natural Resources Trading Down 3.4 %

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 firm has a market cap of $4.02 billion, a PE ratio of 7.83 and a beta of 1.65. The firm has a 50 day moving average of $89.28 and a 200 day moving average of $126.91.

Core Natural Resources (NYSE:CNR) last announced 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. Core Natural Resources had a net margin of 12.81% and a return on equity of 23.87%. The company had revenue of $595.29 million during the quarter, compared to analyst estimates of $493.50 million. Equities analysts anticipate that Core Natural Resources, Inc. will post 11.4 earnings per share for the current year.

Core Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.53%. Core Natural Resources’s dividend payout ratio is presently 4.16%.

Hedge Funds Weigh In On Core Natural Resources

A number of institutional investors and hedge funds have recently made changes to their positions in CNR. Charles Schwab Investment Management Inc. increased its stake in Core Natural Resources by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 385,258 shares of the energy company’s stock worth $40,317,000 after acquiring an additional 990 shares during the last quarter. Citigroup Inc. raised its holdings in Core Natural Resources by 53.9% in the third quarter. Citigroup Inc. now owns 45,604 shares of the energy company’s stock worth $4,772,000 after purchasing an additional 15,981 shares in the last quarter. FMR LLC boosted its stake in Core Natural Resources by 159.5% in the third 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. BNP Paribas Financial Markets raised its stake in Core Natural Resources by 36.8% in the third quarter. BNP Paribas Financial Markets now owns 6,660 shares of the energy company’s stock valued at $697,000 after buying an additional 1,792 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of Core Natural Resources during the third quarter valued at about $540,000. 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.