Baird Financial Group Inc. Purchases New Holdings 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 stake in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 277,386 shares of the energy company's stock, valued at approximately $21,386,000. Baird Financial Group Inc. owned about 0.52% of Core Natural Resources at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vident Advisory LLC purchased a new stake in shares of Core Natural Resources during the first quarter valued at approximately $7,987,000. Evergreen Capital Management LLC bought a new position in Core Natural Resources during the first quarter valued at $334,000. Magnetar Financial LLC bought a new position in Core Natural Resources during the first quarter valued at $6,624,000. Canada Pension Plan Investment Board bought a new position in Core Natural Resources during the first quarter valued at $3,889,000. Finally, State of Wyoming bought a new position in Core Natural Resources during the first quarter valued at $211,000. 86.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on CNR. Benchmark reduced 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. Jefferies Financial Group reissued a "hold" rating and set a $78.00 price objective (up from $67.00) on shares of Core Natural Resources in a report on Tuesday, August 5th. B. Riley reduced 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. Finally, UBS Group reissued a "buy" rating and set a $86.00 price objective (up from $78.00) on shares of Core Natural Resources in a report on Friday, August 8th. 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $105.80.

Core Natural Resources Stock Performance

Shares of CNR opened at $74.39 on Tuesday. The stock's 50-day simple moving average is $73.56 and its 200 day simple moving average is $72.88. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 34.12 and a beta of 0.76. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.25 and a current ratio of 1.78. Core Natural Resources, Inc. has a 52-week low of $58.19 and a 52-week high of $134.59.

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

Core Natural Resources Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a yield of 56.0%. Core Natural Resources's dividend payout ratio (DPR) is currently 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.

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