Northern Trust Corp Makes New $42.68 Million Investment in Core Natural Resources, Inc. $CNR

Key Points

• Northern Trust Corp purchased 553,518 shares of Core Natural Resources, Inc. for approximately $42.68 million, representing around 1.04% of the company's stock as of the latest SEC filing.
• A significant number of hedge funds invested in Core Natural Resources, including Vanguard Group and Dimensional Fund Advisors, highlighting strong institutional interest as they collectively own 86.54% of the company.
• Core Natural Resources reported earnings that missed expectations, with a loss of ($0.70) per share, but had a revenue of $1.10 billion, exceeding analysts' predictions of $1.04 billion.

Northern Trust Corp bought a new position in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 553,518 shares of the energy company's stock, valued at approximately $42,676,000. Northern Trust Corp owned about 1.04% of Core Natural Resources as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. purchased a new stake in shares of Core Natural Resources during the first quarter worth about $482,793,000. Dimensional Fund Advisors LP purchased a new stake in shares of Core Natural Resources during the first quarter worth about $225,045,000. American Century Companies Inc. purchased a new stake in shares of Core Natural Resources during the first quarter worth about $123,526,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Core Natural Resources during the first quarter worth about $48,630,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Core Natural Resources during the first quarter worth about $42,950,000. 86.54% of the stock is owned by hedge funds and other institutional investors.

Core Natural Resources Stock Performance

CNR stock traded up $1.55 during midday trading on Friday, reaching $74.39. The company had a trading volume of 643,849 shares, compared to its average volume of 746,274. The company has a quick ratio of 1.25, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. The stock has a 50 day moving average price of $73.46 and a 200 day moving average price of $72.91. Core Natural Resources, Inc. has a fifty-two week low of $58.19 and a fifty-two week high of $134.59. The firm has a market capitalization of $3.83 billion, a PE ratio of 17.64 and a beta of 0.76.

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

Core Natural Resources Dividend Announcement

The business also recently announced a dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a $0.10 dividend. This represents a yield of 56.0%. The ex-dividend date is Friday, August 29th. Core Natural Resources's payout ratio is presently 18.35%.

Analysts Set New Price Targets

Several analysts recently weighed in on CNR shares. UBS Group reissued a "buy" rating and issued a $86.00 price objective (up from $78.00) on shares of Core Natural Resources in a report on Friday, August 8th. Jefferies Financial Group reissued a "hold" rating and issued a $78.00 price objective (up from $67.00) on shares of Core Natural Resources in a report on Tuesday, August 5th. Benchmark lowered their price objective on 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 lowered their price objective on 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 data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $105.80.

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.