Core Natural Resources (NYSE:CNR) Trading 11.4% Higher – Still a Buy?

Core Natural Resources, Inc. (NYSE:CNR)’s stock price rose 11.4% during mid-day trading on Tuesday . The company traded as high as $72.99 and last traded at $72.32. Approximately 287,388 shares traded hands during trading, a decline of 74% from the average daily volume of 1,090,749 shares. The stock had previously closed at $64.91.

Wall Street Analysts Forecast Growth

CNR has been the topic of a number of recent analyst reports. StockNews.com started coverage on Core Natural Resources in a research report on Thursday, January 30th. They issued a “hold” rating on the stock. 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. Piper Sandler raised Core Natural Resources from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $165.00 to $150.00 in a research note on Monday, January 6th. Benchmark reaffirmed a “buy” rating and issued a $112.00 target price on shares of Core Natural Resources in a research report on Tuesday, February 25th. Finally, Jefferies Financial Group raised shares of Core Natural Resources from a “hold” rating to a “buy” rating and decreased their target price 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. According to data from MarketBeat.com, Core Natural Resources currently has an average rating of “Moderate Buy” and an average target price of $147.17.

Core Natural Resources Stock Up 7.7 %

The company has a 50 day moving average price of $83.91 and a 200-day moving average price of $125.23. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.38 and a quick ratio of 1.16. The stock has a market capitalization of $3.74 billion, a PE ratio of 7.28 and a beta of 1.42.

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

Core Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Monday, March 3rd. Core Natural Resources’s payout ratio is 4.16%.

Insider Activity

In related news, Director Holly K. Koeppel sold 8,815 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $75.30, for a total transaction of $663,769.50. Following the completion of the sale, the director now owns 13,348 shares in the company, valued at approximately $1,005,104.40. This represents a 39.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.41% of the company’s stock.

Institutional Trading of Core Natural Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNR. Versant Capital Management Inc purchased a new position in shares of Core Natural Resources during the 1st quarter valued at about $25,000. GAMMA Investing LLC raised its stake in Core Natural Resources by 340.5% during the 4th quarter. GAMMA Investing LLC now owns 185 shares of the energy company’s stock valued at $26,000 after purchasing an additional 143 shares during the period. EverSource Wealth Advisors LLC bought a new position in shares of Core Natural Resources during the fourth quarter worth $26,000. Fortitude Family Office LLC grew its holdings in Core Natural Resources by 63.8% during the 4th quarter. Fortitude Family Office LLC now owns 267 shares of the energy company’s stock valued at $28,000 after buying an additional 104 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in 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 purchasing an additional 100 shares in the last quarter. 86.54% of the stock is owned by hedge funds and other institutional investors.

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.