CIBC Asset Management Inc Takes Position in Core Natural Resources, Inc. (NYSE:CNR)

CIBC Asset Management Inc bought a new position in Core Natural Resources, Inc. (NYSE:CNR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,789 shares of the energy company’s stock, valued at approximately $253,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in Core Natural Resources by 159.5% during the third quarter. FMR LLC now owns 657,654 shares of the energy company’s stock worth $90,862,000 after acquiring an additional 404,249 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Core Natural Resources by 578.7% during the 3rd quarter. Victory Capital Management Inc. now owns 265,133 shares of the energy company’s stock worth $27,746,000 after purchasing an additional 226,069 shares during the period. Holocene Advisors LP increased its position in Core Natural Resources by 422.4% during the 3rd quarter. Holocene Advisors LP now owns 250,349 shares of the energy company’s stock worth $34,588,000 after purchasing an additional 202,425 shares in the last quarter. Trium Capital LLP purchased a new position in Core Natural Resources in the fourth quarter valued at approximately $21,109,000. Finally, International Assets Investment Management LLC purchased a new stake in Core Natural Resources during the third quarter worth approximately $10,032,000. Institutional investors and hedge funds own 86.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Benchmark raised their target price on shares of Core Natural Resources from $105.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, November 18th. StockNews.com assumed coverage on Core Natural Resources in a research report on Thursday, January 30th. They issued a “hold” rating on the stock. Jefferies Financial Group raised Core Natural Resources from a “hold” rating to a “buy” rating and decreased their target price for the stock from $165.00 to $150.00 in a research report on Monday, January 6th. Piper Sandler upgraded Core Natural Resources from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $165.00 to $150.00 in a report on Monday, January 6th. Finally, 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.50.

Core Natural Resources Stock Down 2.6 %

Shares of NYSE CNR opened at $75.78 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.16 and a current ratio of 1.38. Core Natural Resources, Inc. has a 1 year low of $74.45 and a 1 year high of $134.59. The stock’s 50-day simple moving average is $124.67 and its 200-day simple moving average is $136.96. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 7.89 and a beta of 1.74.

Core Natural Resources (NYSE:CNR) last posted its quarterly earnings data 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 return on equity of 23.87% and a net margin of 12.81%. The company had revenue of $595.29 million for the quarter, compared to the consensus estimate of $493.50 million. As a group, equities analysts anticipate that Core Natural Resources, Inc. will post 11.4 earnings per share for the current fiscal year.

Core Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Monday, March 3rd. Core Natural Resources’s dividend payout ratio is currently 4.16%.

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.