Core Natural Resources (NYSE:CNR) Releases Earnings Results

Core Natural Resources (NYSE:CNR) issued its earnings results on Thursday. The energy company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.40) by $2.01, Zacks reports. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.05 billion. Core Natural Resources had a net margin of 0.63% and a return on equity of 3.01%. The company’s revenue for the quarter was up 74.4% compared to the same quarter last year.

Core Natural Resources Stock Up 11.0%

CNR traded up $8.57 during trading on Thursday, hitting $86.20. 1,885,824 shares of the company’s stock were exchanged, compared to its average volume of 941,340. The business’s 50 day moving average is $82.18 and its two-hundred day moving average is $75.89. The stock has a market cap of $4.44 billion, a P/E ratio of 39.54 and a beta of 0.63. The company has a quick ratio of 1.25, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. Core Natural Resources has a fifty-two week low of $58.19 and a fifty-two week high of $134.59.

Core Natural Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a $0.10 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. Core Natural Resources’s payout ratio is currently 18.35%.

Insider Activity

In other Core Natural Resources news, Director Richard A. Navarre sold 5,000 shares of the business’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $82.20, for a total value of $411,000.00. Following the sale, the director directly owned 21,830 shares in the company, valued at $1,794,426. The trade was a 18.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO John Rothka sold 1,000 shares of the company’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the chief accounting officer owned 10,307 shares in the company, valued at approximately $979,165. This represents a 8.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,043 shares of company stock valued at $740,524 in the last three months. Company insiders own 1.41% of the company’s stock.

Hedge Funds Weigh In On Core Natural Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNR. Royal Bank of Canada purchased a new position in Core Natural Resources during the first quarter valued at $2,037,000. AQR Capital Management LLC purchased a new position in shares of Core Natural Resources in the 1st quarter worth about $796,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Core Natural Resources in the 1st quarter worth about $2,413,000. NewEdge Advisors LLC purchased a new stake in Core Natural Resources during the 1st quarter valued at about $1,223,000. Finally, United Services Automobile Association purchased a new position in Core Natural Resources in the first quarter worth about $256,000. Hedge funds and other institutional investors own 86.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CNR. Zacks Research cut shares of Core Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday. B. Riley decreased their price target on shares of Core Natural Resources from $112.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, July 22nd. UBS Group increased their price objective on shares of Core Natural Resources from $89.00 to $105.50 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Core Natural Resources in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group upgraded shares of Core Natural Resources from a “hold” rating to a “buy” rating and increased their price target for the company from $90.00 to $125.00 in a research note on Friday, October 10th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $119.10.

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.