Core Natural Resources (NYSE:CNR) Trading 7.3% Higher Following Analyst Upgrade

Core Natural Resources, Inc. (NYSE:CNR) traded up 7.3% on Tuesday after UBS Group raised their price target on the stock from $109.00 to $115.00. UBS Group currently has a buy rating on the stock. Core Natural Resources traded as high as $110.00 and last traded at $110.7230. 165,542 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 896,033 shares. The stock had previously closed at $103.15.

A number of other brokerages have also commented on CNR. Weiss Ratings upgraded Core Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Zacks Research cut Core Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen raised Core Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Core Natural Resources presently has an average rating of “Moderate Buy” and a consensus target price of $113.75.

Insider Activity at Core Natural Resources

In related news, CAO John Rothka sold 1,000 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $97.66, for a total transaction of $97,660.00. Following the completion of the transaction, the chief accounting officer directly owned 5,190 shares of the company’s stock, valued at approximately $506,855.40. This represents a 16.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard A. Navarre sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $91.70, for a total value of $550,200.00. Following the completion of the transaction, the director owned 18,034 shares of the company’s stock, valued at approximately $1,653,717.80. This represents a 24.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 51,560 shares of company stock valued at $5,118,890. 2.49% of the stock is owned by insiders.

Institutional Trading of Core Natural Resources

A number of large investors have recently added to or reduced their stakes in CNR. Adage Capital Partners GP L.L.C. bought a new position in Core Natural Resources during the fourth quarter worth about $86,297,000. State Street Corp increased its holdings in shares of Core Natural Resources by 10.2% during the 2nd quarter. State Street Corp now owns 3,169,543 shares of the energy company’s stock worth $221,044,000 after acquiring an additional 294,312 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in Core Natural Resources by 10,023.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 295,720 shares of the energy company’s stock valued at $20,624,000 after acquiring an additional 292,799 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Core Natural Resources in the 4th quarter valued at $22,741,000. Finally, Thomist Capital Management LP acquired a new stake in Core Natural Resources during the 4th quarter valued at $20,739,000. Institutional investors and hedge funds own 86.54% of the company’s stock.

Core Natural Resources Stock Up 7.6%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.15 and a current ratio of 1.60. The firm has a fifty day simple moving average of $93.74 and a 200-day simple moving average of $87.61. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of -36.93 and a beta of 0.34.

Core Natural Resources (NYSE:CNR) last posted its earnings results on Thursday, February 12th. The energy company reported ($1.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.76). The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $996.54 million. Core Natural Resources had a negative return on equity of 4.05% and a negative net margin of 3.68%.The business’s quarterly revenue was up 81.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.04 EPS. As a group, sell-side analysts expect that Core Natural Resources, Inc. will post 11.4 EPS for the current year.

Core Natural Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. Core Natural Resources’s dividend payout ratio is presently -13.29%.

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.