Core Natural Resources (NYSE:CNR) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Zacks Research upgraded Core Natural Resources (CNR) from a "strong sell" to a "hold"; analysts remain mixed but the consensus rating is "Moderate Buy" with a consensus price target of $113.75 (UBS recently raised its target to $115).
• CNR reported a miss on earnings with ($1.54) EPS vs. ($0.78) expected while revenue rose to $1.04 billion (up 81.8% year-over-year), leaving the company with a negative net margin and negative ROE.
• Insiders have been net sellers—51,560 shares (~$5.12M) sold in the past three months—leaving insider ownership at 2.49%, while institutional ownership is high at 86.54%.

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

Other equities analysts have also issued reports about the stock. UBS Group raised their target price on shares of Core Natural Resources from $109.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, March 24th. Wall Street Zen lowered shares of Core Natural Resources from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Finally, Weiss Ratings lowered shares of Core Natural Resources from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $113.75.

Core Natural Resources Price Performance

CNR stock opened at $88.52 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 0.10. Core Natural Resources has a 12 month low of $63.36 and a 12 month high of $114.80. The firm has a market cap of $4.49 billion, a P/E ratio of -29.41 and a beta of 0.25. The company's 50-day moving average price is $94.98 and its two-hundred day moving average price is $90.48.

Core Natural Resources (NYSE:CNR - Get Free Report) last released its earnings results on Thursday, February 12th. The energy company reported ($1.54) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.76). Core Natural Resources had a negative net margin of 3.68% and a negative return on equity of 4.05%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $996.54 million. During the same period in the prior year, the business earned $1.04 earnings per share. Core Natural Resources's quarterly revenue was up 81.8% compared to the same quarter last year. On average, analysts anticipate that Core Natural Resources will post 2.1 earnings per share for the current fiscal year.

Insider Activity at Core Natural Resources

In related news, CAO John Rothka sold 1,000 shares of Core Natural Resources stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $97.66, for a total transaction of $97,660.00. Following the sale, the chief accounting officer directly owned 5,190 shares of the company's stock, valued at approximately $506,855.40. The trade was a 16.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard A. Navarre sold 6,000 shares of Core Natural Resources stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $91.70, for a total transaction of $550,200.00. Following the sale, the director directly owned 18,034 shares in the company, valued at $1,653,717.80. This trade represents a 24.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 51,560 shares of company stock valued at $5,118,890. 2.49% of the stock is owned by insiders.

Institutional Investors Weigh In On Core Natural Resources

Several hedge funds and other institutional investors have recently made changes to their positions in CNR. Triumph Capital Management bought a new stake in Core Natural Resources during the 3rd quarter worth approximately $25,000. AdvisorNet Financial Inc grew its holdings in Core Natural Resources by 1,290.9% during the 3rd quarter. AdvisorNet Financial Inc now owns 306 shares of the energy company's stock worth $26,000 after acquiring an additional 284 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Core Natural Resources by 84.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 416 shares of the energy company's stock worth $29,000 after acquiring an additional 191 shares during the last quarter. CWM LLC grew its holdings in Core Natural Resources by 45.7% during the 4th quarter. CWM LLC now owns 338 shares of the energy company's stock worth $30,000 after acquiring an additional 106 shares during the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in Core Natural Resources during the 3rd quarter worth approximately $31,000. 86.54% of the stock is owned by institutional investors.

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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