Core Natural Resources (NYSE:CNR) Downgraded to Strong Sell Rating by Zacks Research

Key Points

• Zacks Research downgraded Core Natural Resources from “hold” to “strong sell,” even though other analysts remain more positive overall, with MarketBeat showing a consensus rating of “Moderate Buy.”
• The stock was trading around $83.00, down about 1%, and has moved between a 52-week low of $64.15 and a high of $114.80. The company’s market cap is about $4.18 billion.
• Core Natural Resources reported Q1 EPS of $0.41, beating estimates, but revenue of $899.48 million came in below expectations of $1.06 billion. Insiders have also been selling shares, including CEO James A. Brock and Director Richard A. Navarre.

Core Natural Resources (NYSE:CNR - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts have also recently issued reports on the stock. Wall Street Zen raised shares of Core Natural Resources from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. B. Riley Financial reissued a "buy" rating on shares of Core Natural Resources in a report on Thursday, April 30th. Weiss Ratings raised shares of Core Natural Resources from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. Finally, UBS Group raised their price target on shares of Core Natural Resources from $109.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, March 24th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Core Natural Resources has an average rating of "Moderate Buy" and a consensus target price of $116.67.

Core Natural Resources Trading Down 1.0%

Shares of Core Natural Resources stock opened at $83.00 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.70 and a quick ratio of 1.21. The firm has a fifty day moving average price of $94.07 and a 200 day moving average price of $90.13. Core Natural Resources has a 1 year low of $64.15 and a 1 year high of $114.80. The stock has a market cap of $4.18 billion, a PE ratio of -68.03 and a beta of 0.14.

Core Natural Resources (NYSE:CNR - Get Free Report) last issued its earnings results on Thursday, May 7th. The energy company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.13. Core Natural Resources had a negative net margin of 1.49% and a negative return on equity of 1.69%. The firm had revenue of $899.48 million during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter last year, the company posted $3.39 earnings per share. The firm's revenue was up 94.7% compared to the same quarter last year. Equities research analysts predict that Core Natural Resources will post 1.7 earnings per share for the current year.

Insider Activity

In other news, CEO James A. Brock sold 40,760 shares of Core Natural Resources stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $101.15, for a total value of $4,122,874.00. Following the sale, the chief executive officer owned 100,000 shares in the company, valued at $10,115,000. This trade represents a 28.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard A. Navarre sold 6,000 shares of Core Natural Resources stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $91.70, for a total transaction of $550,200.00. Following the completion of the sale, the director owned 18,034 shares in the company, valued at approximately $1,653,717.80. This trade represents a 24.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 51,560 shares of company stock worth $5,118,890 over the last 90 days. 2.49% of the stock is currently owned by company insiders.

Institutional Trading of Core Natural Resources

Institutional investors have recently modified their holdings of the stock. Triumph Capital Management purchased a new position in shares of Core Natural Resources in the third quarter worth about $25,000. EverSource Wealth Advisors LLC lifted 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 buying an additional 191 shares in the last quarter. CWM LLC lifted its stake in shares of Core Natural Resources by 45.7% in the fourth quarter. CWM LLC now owns 338 shares of the energy company's stock worth $30,000 after buying an additional 106 shares in the last quarter. First Horizon Corp lifted its stake in shares of Core Natural Resources by 97.6% in the first quarter. First Horizon Corp now owns 334 shares of the energy company's stock worth $35,000 after buying an additional 165 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Core Natural Resources in the fourth quarter worth about $38,000. 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. This segment includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine, and the central preparation plant.

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