Core Natural Resources (NYSE:CNR) Stock Rating Lowered by Zacks Research

Core Natural Resources (NYSE:CNR) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

CNR has been the subject of several other reports. B. Riley reduced their target price on Core Natural Resources from $112.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, July 22nd. Jefferies Financial Group raised Core Natural Resources from a “hold” rating to a “buy” rating and raised their target price for the stock from $90.00 to $125.00 in a research report on Friday, October 10th. UBS Group increased their price objective on Core Natural Resources from $89.00 to $105.50 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Core Natural Resources in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.10.

Core Natural Resources Price Performance

Shares of NYSE:CNR opened at $77.69 on Tuesday. The firm has a market capitalization of $4.00 billion, a PE ratio of 35.64 and a beta of 0.63. Core Natural Resources has a 1-year low of $58.19 and a 1-year high of $134.59. The business’s 50 day moving average is $81.91 and its 200-day moving average is $75.82. The company has a current ratio of 1.78, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09.

Core Natural Resources (NYSE:CNR) last issued its earnings results on Tuesday, August 5th. The energy company reported ($0.70) EPS for the quarter, missing the consensus estimate of $1.31 by ($2.01). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.04 billion. Core Natural Resources had a return on equity of 3.01% and a net margin of 0.63%. Sell-side analysts predict that Core Natural Resources will post 11.4 earnings per share for the current year.

Insiders Place Their Bets

In other Core Natural Resources news, Director Richard A. Navarre sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $82.20, for a total transaction of $411,000.00. Following the transaction, the director owned 21,830 shares in the company, valued at approximately $1,794,426. This trade represents a 18.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrick A. Kriegshauser sold 3,043 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $77.07, for a total value of $234,524.01. Following the transaction, the director owned 23,348 shares in the company, valued at approximately $1,799,430.36. This trade represents a 11.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 9,043 shares of company stock worth $740,524. Insiders own 1.41% of the company’s stock.

Hedge Funds Weigh In On Core Natural Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNR. AdvisorNet Financial Inc boosted its holdings in Core Natural Resources by 1,290.9% during the third quarter. AdvisorNet Financial Inc now owns 306 shares of the energy company’s stock worth $26,000 after buying an additional 284 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Core Natural Resources during the 1st quarter valued at about $29,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Core Natural Resources by 84.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 416 shares of the energy company’s stock valued at $29,000 after purchasing an additional 191 shares in the last quarter. Salomon & Ludwin LLC bought a new position in shares of Core Natural Resources during the 3rd quarter valued at about $31,000. Finally, TruNorth Capital Management LLC bought a new position in shares of Core Natural Resources during the 1st quarter valued at about $33,000. 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.