Baird Financial Group Inc. Buys New Stake in Core Natural Resources, Inc. $CNR

Key Points

• Baird Financial Group Inc. acquired a new stake of approximately $21.4 million in Core Natural Resources, purchasing 277,386 shares in the first quarter.
• Core Natural Resources' earnings report showed a loss of ($0.70) per share, significantly missing analysts' expectations of $1.31 EPS, while reporting revenue of $1.10 billion.
• The company declared a dividend of $0.10 per share, set to be paid on September 15th, reflecting a yield of 56.0%.

Baird Financial Group Inc. purchased a new position in Core Natural Resources, Inc. (NYSE:CNR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 277,386 shares of the energy company's stock, valued at approximately $21,386,000. Baird Financial Group Inc. owned approximately 0.52% of Core Natural Resources at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc acquired a new stake in Core Natural Resources in the 1st quarter valued at about $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Core Natural Resources in the first quarter valued at approximately $29,000. Farther Finance Advisors LLC purchased a new stake in shares of Core Natural Resources in the first quarter valued at approximately $30,000. Whipplewood Advisors LLC acquired a new stake in shares of Core Natural Resources in the first quarter valued at approximately $31,000. Finally, TruNorth Capital Management LLC purchased a new position in Core Natural Resources during the first quarter worth approximately $33,000. 86.54% of the stock is currently owned by institutional investors and hedge funds.

Core Natural Resources Trading Up 6.5%

Core Natural Resources stock traded up $4.62 during mid-day trading on Friday, hitting $75.38. The company's stock had a trading volume of 690,001 shares, compared to its average volume of 661,462. The firm has a market capitalization of $3.88 billion, a PE ratio of 34.58 and a beta of 0.76. Core Natural Resources, Inc. has a 1 year low of $58.19 and a 1 year high of $134.59. The company has a current ratio of 1.78, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09. The stock's fifty day moving average is $73.92 and its two-hundred day moving average is $72.68.

Core Natural Resources (NYSE:CNR - Get Free Report) last posted 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 business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.04 billion. On average, analysts anticipate that Core Natural Resources, Inc. will post 11.4 EPS for the current year.

Core Natural Resources Announces Dividend

The business also recently disclosed a dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be issued 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 18.35%.

Wall Street Analysts Forecast Growth

CNR has been the topic of a number of recent research reports. B. Riley lowered their price objective on Core Natural Resources from $112.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. UBS Group reiterated a "buy" rating and set a $86.00 price target (up previously from $78.00) on shares of Core Natural Resources in a report on Friday, August 8th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $78.00 price target (up previously from $67.00) on shares of Core Natural Resources in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $105.80.

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.