Core Natural Resources (NYSE:CNR) Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Core Natural Resources from a "hold" to a "sell," though analyst views are mixed—MarketBeat shows an average rating of Moderate Buy and an average price target of $113.75.
• The company missed quarterly EPS expectations, reporting ($1.54) vs. consensus ($0.78), while revenue rose to $1.04 billion, up 81.8% year-over-year.
• Insider activity: CEO James A. Brock sold 40,760 shares for about $4.12 million and insiders sold 51,560 shares in the quarter, with insiders owning 2.49% of the stock.

Core Natural Resources (NYSE:CNR - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

A number of other research firms have also recently issued reports on CNR. Weiss Ratings upgraded Core Natural Resources from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, March 19th. Zacks Research cut Core Natural Resources from a "hold" rating to a "strong sell" rating in a report on Thursday, March 5th. Finally, UBS Group boosted their target price on Core Natural Resources from $109.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. Four research analysts have rated the stock with a Buy rating, one has assigned 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 an average price target of $113.75.

Core Natural Resources Price Performance

CNR opened at $91.37 on Friday. The stock has a 50-day moving average price of $95.38 and a 200-day moving average price of $90.18. Core Natural Resources has a 12-month low of $63.36 and a 12-month high of $114.80. The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $4.64 billion, a P/E ratio of -30.36 and a beta of 0.25.

Core Natural Resources (NYSE:CNR - Get Free Report) last posted its quarterly earnings data 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). Core Natural Resources had a negative return on equity of 4.05% and a negative net margin of 3.68%.The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $996.54 million. During the same quarter in the previous year, the company posted $1.04 earnings per share. Core Natural Resources's revenue for the quarter was up 81.8% compared to the same quarter last year. Equities analysts predict that Core Natural Resources will post 11.4 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO James A. Brock sold 40,760 shares of the business's stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $101.15, for a total value of $4,122,874.00. Following the completion of the sale, the chief executive officer owned 100,000 shares of the company's stock, valued at approximately $10,115,000. The trade was a 28.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO John Rothka sold 1,000 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $97.66, for a total value of $97,660.00. Following the completion of the sale, the chief accounting officer directly owned 5,190 shares of the company's stock, valued at approximately $506,855.40. This trade represents a 16.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 51,560 shares of company stock valued at $5,118,890. Insiders own 2.49% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Core Natural Resources by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 5,669,844 shares of the energy company's stock valued at $501,838,000 after purchasing an additional 39,557 shares during the last quarter. State Street Corp raised its position in Core Natural Resources by 7.8% during the 4th quarter. State Street Corp now owns 3,707,442 shares of the energy company's stock valued at $328,146,000 after purchasing an additional 267,925 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Core Natural Resources during the 4th quarter valued at approximately $86,297,000. Charles Schwab Investment Management Inc. raised its position in Core Natural Resources by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,224 shares of the energy company's stock valued at $66,491,000 after purchasing an additional 40,383 shares during the last quarter. Finally, Magnolia Group LLC raised its position in Core Natural Resources by 2.4% during the 3rd quarter. Magnolia Group LLC now owns 732,000 shares of the energy company's stock valued at $61,107,000 after purchasing an additional 17,500 shares during the last quarter. Institutional investors own 86.54% of the company's stock.

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.

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