Core Natural Resources (NYSE:CNR) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

Core Natural Resources, Inc. (NYSE:CNR) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $90.11 and traded as low as $86.25. Core Natural Resources shares last traded at $86.8650, with a volume of 702,931 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Core Natural Resources in a research report on Monday, December 29th. Benchmark reiterated a “buy” rating on shares of Core Natural Resources in a research note on Monday, November 10th. Zacks Research raised shares of Core Natural Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday. Finally, Jefferies Financial Group raised shares of Core Natural Resources from a “hold” rating to a “buy” rating and upped their price target for the stock from $90.00 to $125.00 in a report on Friday, October 10th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $111.38.

Core Natural Resources Stock Up 4.1%

The stock’s fifty day moving average price is $90.11 and its 200 day moving average price is $83.40. The company has a current ratio of 1.82, a quick ratio of 1.29 and a debt-to-equity ratio of 0.09. The stock has a market cap of $4.65 billion, a P/E ratio of -209.90 and a beta of 0.34.

Core Natural Resources (NYSE:CNR) last released its earnings results on Thursday, November 6th. The energy company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of ($1.40) by $2.01. Core Natural Resources had a positive return on equity of 0.52% and a negative net margin of 1.17%.The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.05 billion. The business’s quarterly revenue was up 74.4% on a year-over-year basis. As a group, research analysts forecast that Core Natural Resources, Inc. will post 11.4 earnings per share for the current fiscal year.

Institutional Trading of Core Natural Resources

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in Core Natural Resources by 64.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,904 shares of the energy company’s stock valued at $346,000 after acquiring an additional 1,537 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Core Natural Resources by 9.8% in the 4th quarter. HighTower Advisors LLC now owns 3,605 shares of the energy company’s stock worth $319,000 after acquiring an additional 322 shares during the last quarter. O Brien Greene & Co. Inc purchased a new stake in shares of Core Natural Resources in the 4th quarter valued at $417,000. PCG Wealth Advisors LLC grew its holdings in shares of Core Natural Resources by 23.3% during the 4th quarter. PCG Wealth Advisors LLC now owns 5,955 shares of the energy company’s stock valued at $527,000 after purchasing an additional 1,124 shares during the last quarter. Finally, Hosking Partners LLP grew its holdings in shares of Core Natural Resources by 211.5% during the 4th quarter. Hosking Partners LLP now owns 69,689 shares of the energy company’s stock valued at $6,168,000 after purchasing an additional 47,315 shares during 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. This segment includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine, and the central preparation plant.