Core Natural Resources (NYSE:CNR) Sets New 12-Month Low Following Analyst Downgrade

Core Natural Resources, Inc. (NYSE:CNR) reached a new 52-week low on Tuesday after B. Riley lowered their price target on the stock from $140.00 to $136.00. B. Riley currently has a buy rating on the stock. Core Natural Resources traded as low as $74.45 and last traded at $75.78, with a volume of 1522201 shares. The stock had previously closed at $77.84.

A number of other research firms have also recently weighed in on CNR. Benchmark upped their price target on Core Natural Resources from $105.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, November 18th. StockNews.com started coverage on Core Natural Resources in a research note on Thursday, January 30th. They set a “hold” rating for the company. Jefferies Financial Group upgraded Core Natural Resources from a “hold” rating to a “buy” rating and reduced their target price for the company from $165.00 to $150.00 in a research note on Monday, January 6th. Finally, Piper Sandler upgraded Core Natural Resources from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $165.00 to $150.00 in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.50.

Hedge Funds Weigh In On Core Natural Resources

Several large investors have recently added to or reduced their stakes in CNR. FMR LLC lifted 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 purchasing an additional 404,249 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in Core Natural Resources during the fourth quarter worth $28,790,000. Victory Capital Management Inc. lifted its stake in Core Natural Resources by 578.7% during the third 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 last quarter. Holocene Advisors LP lifted its stake in Core Natural Resources by 422.4% during the third 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 during the last quarter. Finally, Trium Capital LLP bought a new position in Core Natural Resources during the fourth quarter worth $21,109,000. 86.54% of the stock is currently owned by institutional investors.

Core Natural Resources Price Performance

The company has a 50 day moving average of $124.67 and a 200-day moving average of $136.96. The stock has a market capitalization of $2.23 billion, a P/E ratio of 7.89 and a beta of 1.74. 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 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 firm had revenue of $595.29 million for the quarter, compared to analyst estimates 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 firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, March 3rd. Core Natural Resources’s dividend payout ratio (DPR) is 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.