Vanguard Group Inc. Makes New $482.79 Million Investment in Core Natural Resources, Inc. (NYSE:CNR)

Vanguard Group Inc. bought a new position in Core Natural Resources, Inc. (NYSE:CNR) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,261,908 shares of the energy company’s stock, valued at approximately $482,793,000. Vanguard Group Inc. owned 11.72% of Core Natural Resources as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNR. Victory Capital Management Inc. purchased a new stake in Core Natural Resources in the first quarter worth $42,950,000. Bank of New York Mellon Corp purchased a new stake in Core Natural Resources in the first quarter worth $30,034,000. Pacer Advisors Inc. purchased a new stake in Core Natural Resources in the first quarter worth $23,003,000. Magnolia Group LLC purchased a new stake in Core Natural Resources in the first quarter worth $22,899,000. Finally, Goehring & Rozencwajg Associates LLC purchased a new stake in Core Natural Resources in the first quarter worth $20,729,000. Hedge funds and other institutional investors own 86.54% of the company’s stock.

Core Natural Resources Price Performance

Shares of CNR stock opened at $74.95 on Friday. Core Natural Resources, Inc. has a 1-year low of $58.19 and a 1-year high of $134.59. The stock’s 50-day moving average is $73.35 and its 200 day moving average is $76.48. The company has a market cap of $3.86 billion, a P/E ratio of 34.38 and a beta of 0.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.25.

Core Natural Resources (NYSE:CNR) last issued its quarterly earnings data on Tuesday, August 5th. The energy company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($2.01). The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.04 billion. Core Natural Resources had a net margin of 0.63% and a return on equity of 3.01%. Research analysts predict that Core Natural Resources, Inc. will post 11.4 earnings per share for the current fiscal year.

Core Natural Resources Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued a $0.10 dividend. This represents a yield of 57.0%. The ex-dividend date of this dividend was Friday, May 30th. Core Natural Resources’s dividend payout ratio (DPR) is currently 18.35%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CNR shares. Benchmark reduced their target price on Core Natural Resources from $112.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. B. Riley cut their price target on Core Natural Resources from $112.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, July 22nd. Jefferies Financial Group restated a “hold” rating and set a $78.00 price target (up previously from $67.00) on shares of Core Natural Resources in a research note on Tuesday, August 5th. Finally, UBS Group restated a “buy” rating and set a $86.00 price target (up previously from $78.00) on shares of Core Natural Resources in a research note on Friday, August 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Core Natural Resources presently has an average rating of “Moderate Buy” and an average target price of $105.80.

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.