Core Natural Resources (NYSE:CNR) Shares Down 3.1% – Here’s Why

Core Natural Resources, Inc. (NYSE:CNR)’s stock price fell 3.1% during trading on Wednesday . The stock traded as low as $71.38 and last traded at $73.00. 99,293 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 1,098,363 shares. The stock had previously closed at $75.37.

Analyst Ratings Changes

Several analysts recently issued reports on CNR shares. B. Riley reduced their price target on shares of 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. StockNews.com initiated coverage on Core Natural Resources in a 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 lowered their price target for the stock from $165.00 to $150.00 in a report on Monday, January 6th. Benchmark reaffirmed a “buy” rating and issued a $112.00 price objective on shares of Core Natural Resources in a research note on Tuesday, February 25th. Finally, Piper Sandler raised Core Natural Resources from a “neutral” rating to an “overweight” rating and lowered their target price for the stock 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $147.17.

Core Natural Resources Price Performance

The business has a 50-day moving average of $98.58 and a two-hundred day moving average of $129.62. The company has a current ratio of 1.38, a quick ratio of 1.16 and a debt-to-equity ratio of 0.05. The firm has a market cap of $3.96 billion, a P/E ratio of 7.62 and a beta of 1.65.

Core Natural Resources (NYSE:CNR) last released its quarterly 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. The company had revenue of $595.29 million for the quarter, compared to analysts’ expectations of $493.50 million. Core Natural Resources had a return on equity of 23.87% and a net margin of 12.81%. On average, sell-side 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Monday, March 3rd. Core Natural Resources’s dividend payout ratio (DPR) is currently 4.16%.

Hedge Funds Weigh In On Core Natural Resources

A number of hedge funds have recently modified their holdings of CNR. Public Employees Retirement System of Ohio bought a new position in Core Natural Resources during the 4th quarter worth $706,000. Captrust Financial Advisors acquired a new stake in shares of Core Natural Resources in the fourth quarter valued at about $241,000. Public Employees Retirement Association of Colorado bought a new position in shares of Core Natural Resources during the fourth quarter worth about $345,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Core Natural Resources in the fourth quarter worth approximately $28,790,000. Finally, Marshall Wace LLP bought a new stake in Core Natural Resources in the fourth quarter valued at approximately $884,000. Institutional investors and hedge funds own 86.54% of the company’s stock.

Core Natural Resources Company Profile

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.