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

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CNR shares. Piper Sandler upgraded Core Natural Resources from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $165.00 to $150.00 in a research report on Monday, January 6th. Benchmark restated a “buy” rating and set a $112.00 price objective on shares of Core Natural Resources in a research report on Tuesday, February 25th. B. Riley lowered their price objective 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. StockNews.com started coverage on Core Natural Resources in a research report on Thursday, January 30th. They set a “hold” rating for the company. Finally, Jefferies Financial Group upgraded Core Natural Resources from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $165.00 to $150.00 in a research 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, Core Natural Resources presently has an average rating of “Moderate Buy” and an average price target of $147.17.

Core Natural Resources Stock Performance

The firm has a market capitalization of $3.96 billion, a P/E ratio of 7.62 and a beta of 1.65. The stock has a fifty day simple moving average of $99.92 and a two-hundred day simple moving average of $130.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.38 and a quick ratio of 1.16.

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

Core Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.55%. Core Natural Resources’s dividend payout ratio is 4.16%.

Institutional Investors Weigh In On Core Natural Resources

Several hedge funds and other institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System increased its holdings in shares of Core Natural Resources by 1.1% during the fourth quarter. Louisiana State Employees Retirement System now owns 8,800 shares of the energy company’s stock valued at $1,243,000 after acquiring an additional 100 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of 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 acquiring an additional 100 shares in the last quarter. Fortitude Family Office LLC increased its holdings in shares of Core Natural Resources by 63.8% during the fourth quarter. Fortitude Family Office LLC now owns 267 shares of the energy company’s stock valued at $28,000 after acquiring an additional 104 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Core Natural Resources by 340.5% during the fourth quarter. GAMMA Investing LLC now owns 185 shares of the energy company’s stock valued at $26,000 after acquiring an additional 143 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position 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 buying an additional 170 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.