1,602,148 Shares in Core Natural Resources, Inc. $CNR Acquired by American Century Companies Inc.

Key Points

• American Century Companies Inc. invested approximately $123.53 million in Core Natural Resources, acquiring about 1.6 million shares, which represents 3.00% ownership of the company.
• Core Natural Resources recently reported a loss of ($0.70) earnings per share, significantly missing analyst estimates of $1.31.
• Despite the earnings miss, several analysts have adjusted their price targets for Core Natural Resources, with a consensus price target of $105.80 indicating a "Moderate Buy" rating.

American Century Companies Inc. purchased a new stake in Core Natural Resources, Inc. (NYSE:CNR - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,602,148 shares of the energy company's stock, valued at approximately $123,526,000. American Century Companies Inc. owned 3.00% of Core Natural Resources as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new stake in Core Natural Resources in the fourth quarter valued at approximately $884,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Core Natural Resources in the 4th quarter worth $28,790,000. Public Employees Retirement Association of Colorado acquired a new stake in shares of Core Natural Resources in the 4th quarter valued at approximately $345,000. Captrust Financial Advisors acquired a new stake in shares of Core Natural Resources in the fourth quarter valued at about $241,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Core Natural Resources during the 4th quarter valued at approximately $706,000. 86.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CNR has been the subject of several research reports. 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 report on Tuesday, August 5th. UBS Group reissued a "buy" rating and issued a $86.00 price objective (up previously from $78.00) on shares of Core Natural Resources in a research report on Friday, August 8th. B. Riley decreased their price objective on Core Natural Resources from $112.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, July 22nd. Finally, Benchmark lowered 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. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $105.80.

Core Natural Resources Stock Performance

CNR stock traded up $2.67 during trading on Friday, reaching $72.42. 322,014 shares of the company's stock were exchanged, compared to its average volume of 962,563. Core Natural Resources, Inc. has a 1-year low of $58.19 and a 1-year high of $134.59. The firm has a market cap of $3.73 billion, a PE ratio of 33.22 and a beta of 0.66. The company's fifty day moving average price is $73.48 and its 200-day moving average price is $74.25. The company has a quick ratio of 1.25, a current ratio of 1.78 and a debt-to-equity ratio of 0.09.

Core Natural Resources (NYSE:CNR - Get Free Report) last issued its quarterly earnings results 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 business 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 3.01%. On average, research analysts expect that Core Natural Resources, Inc. will post 11.4 EPS for the current fiscal year.

Core Natural Resources Cuts Dividend

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

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.