Core Natural Resources (NYSE:CNR) Stock Price Passes Below 50-Day Moving Average – What’s Next?

Core Natural Resources, Inc. (NYSE:CNR) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $90.11 and traded as low as $86.25. Core Natural Resources shares last traded at $86.8650, with a volume of 702,931 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Benchmark reissued a “buy” rating on shares of Core Natural Resources in a research note on Monday, November 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Core Natural Resources in a research note on Monday, December 29th. Zacks Research raised shares of Core Natural Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, Jefferies Financial Group upgraded shares of Core Natural Resources from a “hold” rating to a “buy” rating and lifted their price objective for the company from $90.00 to $125.00 in a report on Friday, October 10th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $111.38.

Core Natural Resources Trading Up 4.1%

The company’s fifty day moving average is $90.11 and its two-hundred day moving average is $83.40. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of -209.90 and a beta of 0.34. The company has a quick ratio of 1.29, a current ratio of 1.82 and a debt-to-equity ratio of 0.09.

Core Natural Resources (NYSE:CNR) last posted its earnings results on Thursday, November 6th. The energy company reported $0.61 EPS for the quarter, beating the consensus estimate of ($1.40) by $2.01. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.05 billion. Core Natural Resources had a positive return on equity of 0.52% and a negative net margin of 1.17%.The company’s revenue for the quarter was up 74.4% compared to the same quarter last year. On average, research analysts predict that Core Natural Resources, Inc. will post 11.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Core Natural Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Triumph Capital Management acquired a new stake in Core Natural Resources during the third quarter worth approximately $25,000. AdvisorNet Financial Inc boosted its holdings in shares of Core Natural Resources by 1,290.9% in the 3rd quarter. AdvisorNet Financial Inc now owns 306 shares of the energy company’s stock valued at $26,000 after buying an additional 284 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Core Natural Resources by 84.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 416 shares of the energy company’s stock valued at $29,000 after buying an additional 191 shares during the last quarter. CWM LLC raised its stake in Core Natural Resources by 45.7% during the 4th quarter. CWM LLC now owns 338 shares of the energy company’s stock worth $30,000 after acquiring an additional 106 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new stake in Core Natural Resources in the third quarter valued at $31,000. 86.54% of the stock is owned by institutional investors and hedge funds.

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. This segment includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine, and the central preparation plant.