Alberta Investment Management Corp Makes New Investment in Core Natural Resources, Inc. (NYSE:CNR)

Key Points

• Alberta Investment Management Corp has acquired 11,372 shares of Core Natural Resources, Inc. valued at approximately $877,000 in the first quarter of the year.
• Core Natural Resources has recently experienced several adjustments in analyst ratings, with Benchmark lowering the target price from $112.00 to $105.00 while maintaining a "buy" rating.
• The company reported a quarterly earnings miss, showing an EPS of ($1.38), falling short of the consensus estimate of $1.74, despite generating $1.02 billion in revenue.

Alberta Investment Management Corp acquired a new position in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,372 shares of the energy company's stock, valued at approximately $877,000.

Other large investors have also modified their holdings of the company. US Bancorp DE acquired a new position in shares of Core Natural Resources during the 1st quarter valued at about $47,000. Foster & Motley Inc. bought a new stake in shares of Core Natural Resources in the 1st quarter valued at about $1,487,000. Arkadios Wealth Advisors bought a new stake in Core Natural Resources in the 1st quarter worth about $209,000. Vestcor Inc bought a new position in shares of Core Natural Resources in the first quarter worth $3,514,000. Finally, Federated Hermes Inc. purchased a new stake in Core Natural Resources during the 1st quarter valued at $11,288,000. Hedge funds and other institutional investors own 86.54% of the company's stock.

Core Natural Resources Price Performance

Shares of CNR stock traded up $0.41 during trading hours on Thursday, hitting $75.87. The company had a trading volume of 550,777 shares, compared to its average volume of 977,588. The firm's fifty day moving average is $72.33 and its 200 day moving average is $78.96. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 34.80 and a beta of 0.66. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.34 and a current ratio of 1.89. Core Natural Resources, Inc. has a 12 month low of $58.19 and a 12 month high of $134.59.

Core Natural Resources (NYSE:CNR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The energy company reported ($0.70) EPS for the quarter, missing analysts' consensus estimates of $1.31 by ($2.01). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.04 billion. Core Natural Resources had a net margin of 0.63% and a return on equity of 3.47%. On average, sell-side analysts predict that Core Natural Resources, Inc. will post 11.4 EPS for the current fiscal year.

Core Natural Resources Cuts Dividend

The business 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 of this dividend was Friday, May 30th. This represents a dividend yield of 57.0%. Core Natural Resources's dividend payout ratio is currently 8.26%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Benchmark decreased their price target on Core Natural Resources from $112.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. B. Riley cut 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 research note on Tuesday, July 22nd. UBS Group decreased their price target on shares of Core Natural Resources from $80.00 to $78.00 and set a "buy" rating for the company in a research note on Thursday, July 3rd. Finally, Jefferies Financial Group restated a "hold" rating and set a $78.00 price objective (up from $67.00) on shares of Core Natural Resources in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Core Natural Resources presently has an average rating of "Moderate Buy" and an average price target of $104.20.

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.