Core Natural Resources (NYSE:CNR) Shares Up 4.8% – Here’s What Happened

Core Natural Resources, Inc. (NYSE:CNR)’s stock price rose 4.8% during mid-day trading on Monday . The company traded as high as $71.08 and last traded at $70.57. Approximately 339,285 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 1,130,151 shares. The stock had previously closed at $67.32.

Wall Street Analyst Weigh In

CNR has been the topic of several recent research reports. StockNews.com initiated coverage on Core Natural Resources in a report on Thursday, January 30th. They set a “hold” rating on the stock. Benchmark restated a “buy” rating and issued a $112.00 target price on shares of Core Natural Resources in a report on Tuesday, February 25th. B. Riley decreased their target price on Core Natural Resources from $140.00 to $136.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Piper Sandler raised shares of Core Natural Resources from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $165.00 to $150.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group raised shares of Core Natural Resources from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $165.00 to $150.00 in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $147.17.

Core Natural Resources Trading Down 1.4 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.38 and a quick ratio of 1.16. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 7.84 and a beta of 1.65. The business has a fifty day moving average price of $108.10 and a 200 day moving average price of $132.42.

Core Natural Resources (NYSE:CNR) last released its earnings results on Thursday, February 20th. The energy company reported $3.07 EPS for the quarter, beating the consensus estimate of $1.63 by $1.44. The firm had revenue of $595.29 million during the quarter, compared to analysts’ expectations of $493.50 million. Core Natural Resources had a net margin of 12.81% and a return on equity of 23.87%. On average, equities analysts expect that Core Natural Resources, Inc. will post 11.4 EPS for the current fiscal year.

Core Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Monday, March 3rd. Core Natural Resources’s dividend payout ratio (DPR) is presently 4.16%.

Hedge Funds Weigh In On Core Natural Resources

Several large investors have recently added to or reduced their stakes in CNR. Janney Montgomery Scott LLC increased its position in shares of Core Natural Resources by 17.7% during the third quarter. Janney Montgomery Scott LLC now owns 18,390 shares of the energy company’s stock valued at $2,541,000 after purchasing an additional 2,760 shares during the period. CWA Asset Management Group LLC bought a new stake in Core Natural Resources in the 3rd quarter valued at $247,000. State of New Jersey Common Pension Fund D raised its stake in shares of Core Natural Resources by 44.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 16,107 shares of the energy company’s stock valued at $2,225,000 after buying an additional 4,986 shares in the last quarter. Victory Capital Management Inc. lifted 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 acquiring an additional 226,069 shares during the period. Finally, Regal Partners Ltd lifted its holdings in shares of Core Natural Resources by 23.5% during the 3rd quarter. Regal Partners Ltd now owns 163,105 shares of the energy company’s stock worth $22,535,000 after acquiring an additional 31,076 shares during the period. Institutional investors and hedge funds 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.