Core Natural Resources’ (CNR) “Buy” Rating Reaffirmed at Benchmark

Benchmark reaffirmed their buy rating on shares of Core Natural Resources (NYSE:CNR) in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $112.00 target price on the energy company’s stock.

A number of other research analysts have also commented on the company. Piper Sandler upgraded Core Natural Resources from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $165.00 to $150.00 in a research report on Monday, January 6th. StockNews.com began coverage on shares of Core Natural Resources in a report on Thursday, January 30th. They issued a “hold” rating on the stock. Jefferies Financial Group upgraded Core Natural Resources from a “hold” rating to a “buy” rating and cut their price objective for the company from $165.00 to $150.00 in a report on Monday, January 6th. Finally, B. Riley reduced their target price on shares of Core Natural Resources from $140.00 to $136.00 and set a “buy” rating for the company in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.17.

Core Natural Resources Trading Down 2.0 %

Shares of Core Natural Resources stock opened at $74.17 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.16 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 7.72 and a beta of 1.74. The company’s fifty day simple moving average is $121.63 and its 200-day simple moving average is $136.17. Core Natural Resources has a 1 year low of $73.09 and a 1 year high of $134.59.

Core Natural Resources (NYSE:CNR) last posted its earnings results on Thursday, February 20th. The energy company reported $3.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $1.44. Core Natural Resources had a net margin of 12.81% and a return on equity of 23.87%. The business had revenue of $595.29 million for the quarter, compared to analysts’ expectations of $493.50 million. As a group, sell-side analysts expect that Core Natural Resources will post 11.4 EPS for the current year.

Core Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.54%. Core Natural Resources’s payout ratio is presently 4.16%.

Institutional Investors Weigh In On Core Natural Resources

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of Core Natural Resources by 4.4% during the third quarter. Geode Capital Management LLC now owns 751,044 shares of the energy company’s stock worth $78,609,000 after purchasing an additional 31,310 shares during the period. FMR LLC increased its position in shares of Core Natural Resources by 159.5% during the 3rd quarter. FMR LLC now owns 657,654 shares of the energy company’s stock valued at $90,862,000 after purchasing an additional 404,249 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Core Natural Resources by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 385,258 shares of the energy company’s stock worth $40,317,000 after buying an additional 990 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Core Natural Resources in the 4th quarter worth approximately $28,790,000. Finally, Victory Capital Management Inc. lifted its position in shares of Core Natural Resources by 578.7% during the 3rd quarter. Victory Capital Management Inc. now owns 265,133 shares of the energy company’s stock valued at $27,746,000 after buying an additional 226,069 shares during the last quarter. Institutional investors and hedge funds own 86.54% of the company’s stock.

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.