Core Natural Resources (NYSE:CNR) Shares Up 3.8% – What’s Next?

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on CNR. Jefferies Financial Group upgraded Core Natural Resources from a “hold” rating to a “buy” rating and cut their price target for the stock from $165.00 to $150.00 in a research note on Monday, January 6th. StockNews.com started coverage on Core Natural Resources in a research report on Thursday, January 30th. They issued a “hold” rating on the stock. Benchmark reiterated a “buy” rating and set a $112.00 target price on shares of Core Natural Resources in a research note on Tuesday, February 25th. Piper Sandler upgraded shares of Core Natural Resources from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $165.00 to $150.00 in a research note on Monday, January 6th. Finally, B. Riley reduced their price objective on shares of Core Natural Resources from $140.00 to $136.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.17.

Core Natural Resources Price Performance

The stock has a market capitalization of $4.19 billion, a P/E ratio of 8.16 and a beta of 1.65. The company has a 50 day moving average of $96.16 and a 200-day moving average of $128.83. The company has a quick ratio of 1.16, a current ratio of 1.38 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 for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $493.50 million. Sell-side analysts predict that Core Natural Resources, Inc. will post 11.4 EPS for the current year.

Core Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.10 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.51%. Core Natural Resources’s payout ratio is currently 4.16%.

Institutional Trading of Core Natural Resources

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

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.