National Bank of Canada FI Purchases New Position in Core Natural Resources, Inc. $CNR

Key Points

• National Bank of Canada FI purchased 4,840 shares of Core Natural Resources, Inc. during the first quarter, valued at approximately $373,000.
• Several other institutional investors, including the Vanguard Group and Deutsche Bank AG, have also recently acquired significant stakes in the company, bringing institutional ownership to 86.54%.
• Core Natural Resources reported a loss of $0.70 per share in its recent earnings, significantly missing analysts' expectations, while its revenue for the quarter was $1.10 billion.

National Bank of Canada FI acquired a new position in Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,840 shares of the energy company's stock, valued at approximately $373,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. bought a new position in Core Natural Resources in the 1st quarter worth $20,894,000. Amalgamated Bank bought a new position in Core Natural Resources in the 1st quarter worth $1,120,000. Vanguard Group Inc. bought a new position in Core Natural Resources in the 1st quarter worth $482,793,000. Yousif Capital Management LLC bought a new position in Core Natural Resources in the 1st quarter worth $1,419,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Core Natural Resources in the 1st quarter worth $11,600,000. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. UBS Group reaffirmed a "buy" rating and issued a $86.00 target price (up previously from $78.00) on shares of Core Natural Resources in a report on Friday, August 8th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $78.00 target price (up previously from $67.00) on shares of Core Natural Resources in a report on Tuesday, August 5th. Benchmark dropped their target price on shares of Core Natural Resources from $112.00 to $105.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, B. Riley dropped their target price on shares of Core Natural Resources from $112.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $105.80.

Core Natural Resources Price Performance

Shares of Core Natural Resources stock traded up $0.30 during trading on Thursday, reaching $69.66. 385,955 shares of the stock traded hands, compared to its average volume of 820,841. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 31.95 and a beta of 0.66. The business has a fifty day simple moving average of $73.48 and a two-hundred day simple moving average of $74.25. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.25. Core Natural Resources, Inc. has a 52-week low of $58.19 and a 52-week high of $134.59.

Core Natural Resources (NYSE:CNR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The energy company reported ($0.70) earnings per share for the quarter, missing analysts' consensus estimates of $1.31 by ($2.01). The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.04 billion. Core Natural Resources had a net margin of 0.63% and a return on equity of 3.01%. Sell-side analysts expect that Core Natural Resources, Inc. will post 11.4 EPS for the current year.

Core Natural Resources Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were given a dividend of $0.10 per share. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 57.0%. Core Natural Resources's dividend payout ratio (DPR) is presently 18.35%.

Core Natural Resources 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.