Core Natural Resources (NYSE:CNR) Shares Down 5.9% – Here’s Why

Core Natural Resources, Inc. (NYSE:CNR) shares traded down 5.9% on Monday . The stock traded as low as $102.23 and last traded at $100.8970. 253,625 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 881,328 shares. The stock had previously closed at $107.17.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CNR shares. UBS Group boosted their target price on shares of Core Natural Resources from $109.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings raised shares of Core Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, March 19th. Wall Street Zen upgraded shares of Core Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Zacks Research lowered shares of Core Natural Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $113.75.

Core Natural Resources Stock Performance

The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average of $94.00 and a 200 day moving average of $87.85. The stock has a market capitalization of $5.56 billion, a P/E ratio of -36.43 and a beta of 0.34.

Core Natural Resources (NYSE:CNR) last announced its quarterly earnings data on Thursday, February 12th. The energy company reported ($1.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.76). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $996.54 million. Core Natural Resources had a negative net margin of 3.68% and a negative return on equity of 4.05%. The company’s quarterly revenue was up 81.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.04 EPS. Research analysts anticipate that Core Natural Resources, Inc. will post 11.4 EPS for the current fiscal year.

Core Natural Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, March 2nd. Core Natural Resources’s dividend payout ratio is currently -13.29%.

Insider Buying and Selling

In related news, Director Richard A. Navarre sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $91.70, for a total transaction of $550,200.00. Following the completion of the transaction, the director owned 18,034 shares in the company, valued at $1,653,717.80. This trade represents a 24.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James A. Brock sold 40,760 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $101.15, for a total value of $4,122,874.00. Following the completion of the sale, the chief executive officer directly owned 100,000 shares in the company, valued at approximately $10,115,000. This represents a 28.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 51,560 shares of company stock worth $5,118,890 in the last 90 days. 2.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On Core Natural Resources

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Core Natural Resources by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 5,669,844 shares of the energy company’s stock valued at $501,838,000 after purchasing an additional 39,557 shares during the last quarter. State Street Corp grew its stake in Core Natural Resources by 7.8% during the fourth quarter. State Street Corp now owns 3,707,442 shares of the energy company’s stock worth $328,146,000 after buying an additional 267,925 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Core Natural Resources during the fourth quarter worth approximately $86,297,000. Charles Schwab Investment Management Inc. raised its stake in shares of Core Natural Resources by 5.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,224 shares of the energy company’s stock valued at $66,491,000 after acquiring an additional 40,383 shares during the last quarter. Finally, Magnolia Group LLC raised its stake in shares of Core Natural Resources by 2.4% in the third quarter. Magnolia Group LLC now owns 732,000 shares of the energy company’s stock valued at $61,107,000 after acquiring an additional 17,500 shares during the last quarter. Institutional investors 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. This segment includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine, and the central preparation plant.