Wealth High Governance Asset Management Ltda. Makes New $3.75 Million Investment in Core Natural Resources, Inc. $CNR

Wealth High Governance Asset Management Ltda. acquired a new stake in Core Natural Resources, Inc. (NYSE:CNR) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 35,858 shares of the energy company’s stock, valued at approximately $3,755,000. Core Natural Resources accounts for about 1.3% of Wealth High Governance Asset Management Ltda.’s investment portfolio, making the stock its 29th largest holding. Wealth High Governance Asset Management Ltda. owned about 0.07% of Core Natural Resources as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. acquired a new position in Core Natural Resources during the fourth quarter worth about $86,297,000. Goehring & Rozencwajg Associates LLC raised its holdings in shares of Core Natural Resources by 134.0% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 708,225 shares of the energy company’s stock worth $74,172,000 after acquiring an additional 405,505 shares during the last quarter. State Street Corp raised its stake in Core Natural Resources by 10.2% in the 2nd quarter. State Street Corp now owns 3,169,543 shares of the energy company’s stock valued at $221,044,000 after purchasing an additional 294,312 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Core Natural Resources by 10,023.9% during the second quarter. Balyasny Asset Management L.P. now owns 295,720 shares of the energy company’s stock valued at $20,624,000 after buying an additional 292,799 shares during the period. Finally, Encompass Capital Advisors LLC boosted its holdings in shares of Core Natural Resources by 122.2% during the first quarter. Encompass Capital Advisors LLC now owns 500,000 shares of the energy company’s stock worth $52,365,000 after purchasing an additional 275,000 shares during the last quarter. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CNR shares. UBS Group lowered their price objective on Core Natural Resources from $107.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Weiss Ratings downgraded Core Natural Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. B. Riley Financial reissued a “buy” rating on shares of Core Natural Resources in a research note on Thursday, April 30th. Wall Street Zen upgraded Core Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research raised shares of Core Natural Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 24th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.50.

Core Natural Resources Price Performance

CNR opened at $79.69 on Monday. Core Natural Resources, Inc. has a 52-week low of $68.78 and a 52-week high of $114.80. The company has a market cap of $4.02 billion, a P/E ratio of -65.32 and a beta of 0.14. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $85.27 and a two-hundred day moving average of $90.29.

Core Natural Resources (NYSE:CNR) last released its quarterly earnings data on Thursday, May 7th. The energy company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.28 by $0.13. The company had revenue of $899.48 million for the quarter, compared to analyst estimates of $1.06 billion. Core Natural Resources had a negative return on equity of 1.69% and a negative net margin of 1.49%.The firm’s revenue was up 94.7% compared to the same quarter last year. During the same period last year, the company posted $3.39 earnings per share. On average, analysts expect that Core Natural Resources, Inc. will post 2.45 earnings per share for the current year.

Core Natural Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.40 annualized dividend and a yield of 0.5%. Core Natural Resources’s payout ratio is -32.79%.

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.