Core Natural Resources (NYSE:CNR) Trading Up 3.8% – Here’s What Happened

Core Natural Resources, Inc. (NYSE:CNR)’s share price shot up 3.8% during trading on Tuesday . The company traded as high as $75.26 and last traded at $74.78. 180,934 shares were traded during mid-day trading, a decline of 84% from the average session volume of 1,108,428 shares. The stock had previously closed at $72.04.

Analyst Ratings Changes

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

Core Natural Resources Price Performance

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 stock has a market cap of $4.03 billion, a PE ratio of 7.77 and a beta of 1.65. The business has a fifty day simple moving average of $102.57 and a two-hundred day simple moving average of $130.83.

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 analysts’ consensus estimates 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 business had revenue of $595.29 million during the quarter, compared to the consensus estimate of $493.50 million. Research analysts forecast that Core Natural Resources, Inc. will post 11.4 earnings per share for the current year.

Core Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Monday, March 3rd. Core Natural Resources’s payout ratio is currently 4.16%.

Hedge Funds Weigh In On Core Natural Resources

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