Core Natural Resources (NYSE:CNR) Stock Price Up 3.8% - Here's Why

Core Natural Resources, Inc. (NYSE:CNR - Get Free Report)'s share price shot up 3.8% during mid-day trading on Tuesday . The company traded as high as $75.26 and last traded at $74.78. 180,934 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 1,108,428 shares. The stock had previously closed at $72.04.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CNR. Benchmark reiterated a "buy" rating and issued a $112.00 target price on shares of Core Natural Resources in a research report on Tuesday, February 25th. B. Riley reduced their price target on Core Natural Resources from $140.00 to $136.00 and set a "buy" rating on the stock in a report on Monday, February 24th. StockNews.com started coverage on Core Natural Resources in a 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 reduced their price target for the stock from $165.00 to $150.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group upgraded Core Natural Resources from a "hold" rating to a "buy" rating and reduced their price target for the stock from $165.00 to $150.00 in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Core Natural Resources has a consensus rating of "Moderate Buy" and an average target price of $147.17.

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Core Natural Resources Stock Performance

The stock has a 50 day moving average of $97.36 and a 200 day moving average of $129.18. The company has a quick ratio of 1.16, a current ratio of 1.38 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 7.62 and a beta of 1.65.

Core Natural Resources (NYSE:CNR - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The energy company reported $3.07 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $1.44. Core Natural Resources had a return on equity of 23.87% and a net margin of 12.81%. The company had revenue of $595.29 million for the quarter, compared to analyst estimates of $493.50 million. As a group, analysts predict that Core Natural Resources, Inc. will post 11.4 EPS for the current year.

Core Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Monday, March 3rd. Core Natural Resources's dividend payout ratio (DPR) is presently 4.16%.

Hedge Funds Weigh In On Core Natural Resources

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of Core Natural Resources by 159.5% during the third quarter. FMR LLC now owns 657,654 shares of the energy company's stock valued at $90,862,000 after acquiring an additional 404,249 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Core Natural Resources during the fourth quarter valued at approximately $28,790,000. Holocene Advisors LP increased its holdings in shares of Core Natural Resources by 422.4% during the third quarter. Holocene Advisors LP now owns 250,349 shares of the energy company's stock valued at $34,588,000 after acquiring an additional 202,425 shares in the last quarter. Trium Capital LLP bought a new stake in shares of Core Natural Resources during the fourth quarter valued at approximately $21,109,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Core Natural Resources during the third quarter valued at approximately $9,828,000. 86.54% of the stock is 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.