Core Natural Resources (NYSE:CNR) Trading 10.9% Higher on Earnings Beat

Core Natural Resources, Inc. (NYSE:CNR)’s stock price traded up 10.9% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $87.98 and last traded at $86.0980. 379,613 shares traded hands during trading, a decline of 59% from the average session volume of 933,775 shares. The stock had previously closed at $77.63.

The energy company reported $0.61 earnings per share for the quarter, beating the consensus estimate of ($1.40) by $2.01. Core Natural Resources had a net margin of 0.63% and a return on equity of 3.01%. The firm’s quarterly revenue was up 74.4% on a year-over-year basis.

Core Natural Resources Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were issued a dividend of $0.10 per share. This represents a dividend yield of 56.0%. The ex-dividend date was Friday, August 29th. Core Natural Resources’s payout ratio is 18.35%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CNR. Weiss Ratings reiterated a “hold (c)” rating on shares of Core Natural Resources in a research note on Wednesday, October 8th. B. Riley reduced their target price 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. Zacks Research lowered shares of Core Natural Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday. Jefferies Financial Group upgraded Core Natural Resources from a “hold” rating to a “buy” rating and upped their price target for the stock from $90.00 to $125.00 in a research note on Friday, October 10th. Finally, UBS Group upped their price target on Core Natural Resources from $89.00 to $105.50 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $119.10.

Insider Activity at Core Natural Resources

In related news, CAO John Rothka sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the sale, the chief accounting officer owned 10,307 shares of the company’s stock, valued at $979,165. This trade represents a 8.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick A. Kriegshauser sold 3,043 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $77.07, for a total value of $234,524.01. Following the sale, the director directly owned 23,348 shares in the company, valued at approximately $1,799,430.36. The trade was a 11.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,043 shares of company stock valued at $740,524 over the last quarter. 1.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Core Natural Resources

A number of institutional investors and hedge funds have recently modified their holdings of the company. AdvisorNet Financial Inc lifted its holdings in Core Natural Resources by 1,290.9% in the third quarter. AdvisorNet Financial Inc now owns 306 shares of the energy company’s stock valued at $26,000 after acquiring an additional 284 shares during the period. Salomon & Ludwin LLC purchased a new stake in Core Natural Resources in the 3rd quarter valued at $31,000. SBI Securities Co. Ltd. purchased a new stake in Core Natural Resources in the 1st quarter valued at $29,000. EverSource Wealth Advisors LLC lifted its stake in Core Natural Resources by 84.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 416 shares of the energy company’s stock worth $29,000 after acquiring an additional 191 shares in the last quarter. Finally, TruNorth Capital Management LLC acquired a new position in Core Natural Resources during the 1st quarter worth about $33,000. Institutional investors and hedge funds own 86.54% of the company’s stock.

Core Natural Resources Trading Up 11.3%

The company has a 50 day moving average of $81.91 and a 200-day moving average of $75.82. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.25 and a current ratio of 1.78. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 39.53 and a beta of 0.63.

Core Natural Resources Company Profile

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.