Benchmark Reaffirms "Buy" Rating for Core Natural Resources (NYSE:CNR)

Benchmark reaffirmed their buy rating on shares of Core Natural Resources (NYSE:CNR - Free Report) in a report issued on Tuesday morning,Benzinga reports. They currently have a $112.00 price target on the energy company's stock.

A number of other analysts have also recently issued reports on the company. StockNews.com initiated coverage on Core Natural Resources in a research report on Thursday, January 30th. They set a "hold" rating on the stock. Piper Sandler upgraded Core Natural Resources from a "neutral" rating to an "overweight" rating and lowered their price objective for the company from $165.00 to $150.00 in a research report on Monday, January 6th. B. Riley lowered their price target on Core Natural Resources from $140.00 to $136.00 and set a "buy" rating on the stock in a research report on Monday. Finally, Jefferies Financial Group upgraded Core Natural Resources from a "hold" rating to a "buy" rating and lowered their price target for the company from $165.00 to $150.00 in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $147.17.

Remove Ads

Core Natural Resources Stock Performance

Shares of CNR traded up $1.16 on Tuesday, reaching $74.20. 1,351,693 shares of the stock traded hands, compared to its average volume of 1,155,000. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 7.72 and a beta of 1.74. 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 has a 12 month low of $71.70 and a 12 month high of $134.59. The stock's 50-day moving average price is $117.54 and its 200-day moving average price is $134.92.

Core Natural Resources (NYSE:CNR - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The energy company reported $3.07 earnings per share (EPS) 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 analysts' expectations of $493.50 million. Core Natural Resources had a return on equity of 23.87% and a net margin of 12.81%. Equities analysts forecast that Core Natural Resources will post 11.4 EPS for the current fiscal year.

Core Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Monday, March 3rd. Core Natural Resources's dividend payout ratio (DPR) is 4.16%.

Institutional Trading of Core Natural Resources

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in shares of Core Natural Resources by 4.4% during the third quarter. Geode Capital Management LLC now owns 751,044 shares of the energy company's stock worth $78,609,000 after purchasing an additional 31,310 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Core Natural Resources during the third quarter worth $1,488,000. Barclays PLC grew its holdings in shares of Core Natural Resources by 143.8% during the third quarter. Barclays PLC now owns 51,602 shares of the energy company's stock worth $7,130,000 after purchasing an additional 30,437 shares during the last quarter. FMR LLC grew its holdings in shares of Core Natural Resources by 266.2% during the third quarter. FMR LLC now owns 41,874 shares of the energy company's stock worth $4,382,000 after purchasing an additional 30,440 shares during the last quarter. Finally, Royce & Associates LP grew its holdings in shares of Core Natural Resources by 141.5% during the third quarter. Royce & Associates LP now owns 10,695 shares of the energy company's stock worth $1,119,000 after purchasing an additional 6,266 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.