Core Natural Resources (NYSE:CNR) Sets New 52-Week Low – What’s Next?

Shares of Core Natural Resources, Inc. (NYSE:CNR) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $75.09 and last traded at $75.39, with a volume of 576546 shares changing hands. The stock had previously closed at $78.60.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Core Natural Resources from a “hold” rating to a “buy” rating and dropped their price objective for the company from $165.00 to $150.00 in a research note on Monday, January 6th. StockNews.com assumed coverage on shares of Core Natural Resources in a report on Thursday, January 30th. They issued a “hold” rating on the stock. Piper Sandler raised shares of Core Natural Resources from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $165.00 to $150.00 in a report on Monday, January 6th. Finally, Benchmark upped their target price on shares of Core Natural Resources from $105.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.83.

Core Natural Resources Stock Down 5.2 %

The company has a market cap of $2.28 billion, a P/E ratio of 5.69 and a beta of 1.74. 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 firm’s 50 day moving average price is $126.21 and its 200-day moving average price is $137.24.

Core Natural Resources (NYSE:CNR) last announced its quarterly earnings results on Thursday, February 20th. The energy company reported $3.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $1.44. The business had revenue of $595.29 million for the quarter, compared to the consensus estimate of $493.50 million. Core Natural Resources had a net margin of 18.02% and a return on equity of 28.96%. As a group, equities research analysts expect that Core Natural Resources, Inc. will post 10.84 EPS for the current year.

Core Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.40 annualized dividend and a yield of 0.52%. Core Natural Resources’s dividend payout ratio (DPR) is currently 7.34%.

Institutional Trading of Core Natural Resources

Several hedge funds have recently bought and sold shares of CNR. Louisiana State Employees Retirement System grew its stake in shares of Core Natural Resources by 1.1% in 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 buying an additional 100 shares in the last quarter. Smartleaf Asset Management LLC lifted 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 worth $31,000 after buying an additional 100 shares in the last quarter. Fortitude Family Office LLC lifted 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 worth $28,000 after buying an additional 104 shares in the last quarter. GAMMA Investing LLC lifted 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 worth $26,000 after buying an additional 143 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted 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 worth $35,000 after buying an additional 170 shares in the last quarter. 86.54% of the stock is currently owned by institutional investors and hedge funds.

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.