Core Natural Resources (NYSE:CNR) Upgraded to Hold at Zacks Research

Core Natural Resources (NYSE:CNR) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the company. Jefferies Financial Group upgraded Core Natural Resources from a “hold” rating to a “buy” rating and increased their target price for the company from $90.00 to $125.00 in a research note on Friday, October 10th. 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 report on Wednesday, October 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Core Natural Resources in a research note on Monday, December 29th. Finally, Benchmark reissued a “buy” rating on shares of Core Natural Resources in a research report on Monday, November 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 company’s stock. According to data from MarketBeat, Core Natural Resources presently has an average rating of “Moderate Buy” and a consensus price target of $111.38.

Core Natural Resources Stock Performance

Shares of CNR stock opened at $86.87 on Wednesday. The company has a current ratio of 1.82, a quick ratio of 1.29 and a debt-to-equity ratio of 0.09. The company has a market cap of $4.45 billion, a PE ratio of -202.01 and a beta of 0.34. The company’s fifty day simple moving average is $90.11 and its 200-day simple moving average is $83.40. Core Natural Resources has a 52 week low of $58.19 and a 52 week high of $103.50.

Core Natural Resources (NYSE:CNR) last announced its quarterly earnings results on Thursday, November 6th. The energy company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.40) by $2.01. Core Natural Resources had a positive return on equity of 0.52% and a negative net margin of 1.17%.The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.05 billion. Core Natural Resources’s quarterly revenue was up 74.4% on a year-over-year basis. As a group, equities research analysts anticipate that Core Natural Resources will post 11.4 EPS for the current year.

Hedge Funds Weigh In On Core Natural Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in Core Natural Resources by 27.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 513,191 shares of the energy company’s stock worth $35,790,000 after buying an additional 111,331 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Core Natural Resources by 711.1% during the 2nd quarter. Osaic Holdings Inc. now owns 28,615 shares of the energy company’s stock valued at $1,996,000 after acquiring an additional 25,087 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Core Natural Resources during the third quarter worth $4,369,000. Magnolia Group LLC boosted its holdings in Core Natural Resources by 2.4% in the third quarter. Magnolia Group LLC now owns 732,000 shares of the energy company’s stock worth $61,107,000 after purchasing an additional 17,500 shares during the period. Finally, Geode Capital Management LLC increased its stake in Core Natural Resources by 1.7% during the second quarter. Geode Capital Management LLC now owns 1,237,486 shares of the energy company’s stock valued at $86,318,000 after purchasing an additional 20,541 shares during the last quarter. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

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