Core Natural Resources (NYSE:CNR) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Core Natural Resources (NYSE:CNR) from a hold rating to a strong sell rating in a research report released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on CNR. Weiss Ratings reissued a “sell (d+)” rating on shares of Core Natural Resources in a research report on Monday, December 29th. 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 research report on Wednesday, October 8th. Jefferies Financial Group upgraded Core Natural Resources from a “hold” rating to a “buy” rating and increased their price objective for the company from $90.00 to $125.00 in a report on Friday, October 10th. Finally, Benchmark reissued a “buy” rating on shares of Core Natural Resources in a research report on Monday, November 10th. Four research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $111.38.

Core Natural Resources Price Performance

CNR opened at $93.85 on Tuesday. The firm has a market capitalization of $4.81 billion, a PE ratio of -218.25 and a beta of 0.33. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.82 and a quick ratio of 1.29. The business’s 50-day moving average is $84.30 and its two-hundred day moving average is $80.01. Core Natural Resources has a 1 year low of $58.19 and a 1 year high of $107.00.

Core Natural Resources (NYSE:CNR) last released its quarterly 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. Core Natural Resources had a negative net margin of 1.17% and a positive return on equity of 0.52%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1.05 billion. The firm’s revenue was up 74.4% on a year-over-year basis. Research analysts anticipate that Core Natural Resources will post 11.4 earnings per share for the current fiscal year.

Core Natural Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. Core Natural Resources’s dividend payout ratio (DPR) is currently -93.02%.

Hedge Funds Weigh In On Core Natural Resources

Several hedge funds have recently made changes to their positions in the company. Triumph Capital Management purchased a new position in Core Natural Resources in the 3rd quarter worth $25,000. AdvisorNet Financial Inc raised its stake in shares of Core Natural Resources by 1,290.9% in the third quarter. AdvisorNet Financial Inc now owns 306 shares of the energy company’s stock worth $26,000 after purchasing an additional 284 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Core Natural Resources by 84.9% in the second quarter. EverSource Wealth Advisors LLC now owns 416 shares of the energy company’s stock worth $29,000 after purchasing an additional 191 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of Core Natural Resources during the third quarter worth about $31,000. Finally, Princeton Global Asset Management LLC purchased a new stake in Core Natural Resources in the third quarter valued at approximately $43,000. 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.