Core Natural Resources (NYSE:CNR) Trading Up 11.4% – Time to Buy?

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

Analyst Ratings Changes

A number of equities analysts have issued reports on CNR shares. Jefferies Financial Group raised shares of 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 research report on Monday, January 6th. Benchmark restated a “buy” rating and set a $112.00 target price on shares of Core Natural Resources in a research report on Tuesday, February 25th. B. Riley cut 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, February 24th. StockNews.com initiated coverage on Core Natural Resources in a report on Thursday, January 30th. They issued a “hold” rating for the company. Finally, Piper Sandler raised Core Natural Resources from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $165.00 to $150.00 in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Core Natural Resources has an average rating of “Moderate Buy” and a consensus target price of $147.17.

Core Natural Resources Stock Performance

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 firm has a market cap of $3.61 billion, a price-to-earnings ratio of 7.03 and a beta of 1.42. The business’s 50-day simple moving average is $77.35 and its two-hundred day simple moving average is $123.18.

Core Natural Resources (NYSE:CNR) last released its quarterly earnings results on Thursday, February 20th. The energy company reported $3.07 earnings per share 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 during the quarter, compared to analysts’ expectations of $493.50 million. As a group, sell-side analysts expect 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. Stockholders of record on Monday, March 3rd were given a dividend of $0.10 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.59%. Core Natural Resources’s dividend payout ratio (DPR) is 4.16%.

Insider Buying and Selling

In related news, Director Holly K. Koeppel sold 8,815 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $75.30, for a total value of $663,769.50. Following the transaction, the director now directly owns 13,348 shares of the company’s stock, valued at approximately $1,005,104.40. This trade represents a 39.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.41% of the stock is owned by insiders.

Hedge Funds Weigh In On Core Natural Resources

A number of hedge funds have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. acquired a new position in Core Natural Resources in the 1st quarter valued at $749,000. Whipplewood Advisors LLC purchased a new stake in shares of Core Natural Resources during the first quarter worth $31,000. Rhumbline Advisers acquired a new stake in shares of Core Natural Resources in the first quarter valued at about $9,261,000. GAMMA Investing LLC purchased a new position in shares of Core Natural Resources in the first quarter worth about $7,472,000. Finally, Quent Capital LLC acquired a new position in Core Natural Resources during the first quarter worth about $66,000. Institutional investors and hedge funds 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.