Arrowstreet Capital Limited Partnership Makes New Investment in Core Natural Resources, Inc. $CNR

Key Points

• Arrowstreet Capital acquired 59,583 shares of Core Natural Resources worth approximately $6.24 million, giving it a 0.12% stake. Other institutions also initiated positions, and institutional investors collectively own 86.54% of the company.
• Core Natural Resources reported quarterly EPS of $0.41, beating estimates of $0.28, while revenue reached $899.48 million, below the $1.06 billion consensus but up 94.7% year over year.
• The stock opened at $79.69, below its 50-day and 200-day moving averages. Analysts maintain a “Moderate Buy” consensus with an average price target of $112.50, while the company pays a quarterly dividend of $0.10 per share.

Arrowstreet Capital Limited Partnership acquired a new stake in Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 59,583 shares of the energy company's stock, valued at approximately $6,240,000. Arrowstreet Capital Limited Partnership owned about 0.12% of Core Natural Resources at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNR. Royal Bank of Canada acquired a new position in shares of Core Natural Resources during the first quarter worth about $2,037,000. AQR Capital Management LLC acquired a new position in Core Natural Resources during the 1st quarter worth approximately $796,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Core Natural Resources in the 1st quarter valued at approximately $2,413,000. NewEdge Advisors LLC purchased a new stake in shares of Core Natural Resources in the first quarter valued at approximately $1,223,000. Finally, United Services Automobile Association purchased a new stake in shares of Core Natural Resources in the first quarter valued at approximately $256,000. 86.54% of the stock is owned by hedge funds and other institutional investors.

Core Natural Resources Stock Performance

Core Natural Resources stock opened at $79.69 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.21 and a current ratio of 1.70. The stock has a fifty day moving average of $85.27 and a two-hundred day moving average of $90.29. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of -65.32 and a beta of 0.14. Core Natural Resources, Inc. has a fifty-two week low of $68.78 and a fifty-two week high of $114.80.

Core Natural Resources (NYSE:CNR - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The energy company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.13. The business had revenue of $899.48 million for the quarter, compared to the consensus estimate of $1.06 billion. Core Natural Resources had a negative return on equity of 1.69% and a negative net margin of 1.49%.The business's revenue was up 94.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.39 earnings per share. On average, analysts anticipate that Core Natural Resources, Inc. will post 2.45 EPS for the current fiscal year.

Core Natural Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, May 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. Core Natural Resources's payout ratio is -32.79%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Zacks Research raised Core Natural Resources from a "strong sell" rating to a "hold" rating in a report on Wednesday, June 24th. B. Riley Financial reaffirmed a "buy" rating on shares of Core Natural Resources in a report on Thursday, April 30th. Weiss Ratings cut shares of Core Natural Resources from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, June 23rd. Wall Street Zen upgraded shares of Core Natural Resources from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, UBS Group decreased their price target on Core Natural Resources from $107.00 to $100.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Core Natural Resources presently has an average rating of "Moderate Buy" and an average target price of $112.50.

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. This segment includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine, and the central preparation plant.

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