Bank of America Corp DE Sells 95,437 Shares of Core Natural Resources, Inc. $CNR

Key Points

• Bank of America reduced its Core Natural Resources stake by 23.9% in the first quarter, selling 95,437 shares and retaining 303,517 shares worth approximately $31.8 million. Institutional investors collectively own 86.54% of the company.
• Analyst sentiment remains positive, with Core Natural Resources carrying a consensus “Buy” rating and a $112.50 price target, despite UBS lowering its target to $100.
• CNR recently reported adjusted earnings of $2.51 per share, substantially exceeding the $0.60 consensus estimate, alongside $1.14 billion in quarterly revenue. The company also declared a $0.10 quarterly dividend, equal to a 0.4% annualized yield.

Bank of America Corp DE lowered its position in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) by 23.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 303,517 shares of the energy company's stock after selling 95,437 shares during the quarter. Bank of America Corp DE owned approximately 0.60% of Core Natural Resources worth $31,787,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CNR. GeoSphere Capital Management LLC grew its position in shares of Core Natural Resources by 41.7% during the 4th quarter. GeoSphere Capital Management LLC now owns 85,000 shares of the energy company's stock worth $7,523,000 after buying an additional 25,000 shares during the period. Hosking Partners LLP lifted its holdings in Core Natural Resources by 211.5% in the fourth quarter. Hosking Partners LLP now owns 69,689 shares of the energy company's stock valued at $6,168,000 after buying an additional 47,315 shares during the period. Nwam LLC bought a new position in Core Natural Resources in the fourth quarter valued at approximately $3,112,000. BW Gestao de Investimentos Ltda. bought a new position in Core Natural Resources in the fourth quarter valued at approximately $9,070,000. Finally, Goehring & Rozencwajg Associates LLC grew its holdings in Core Natural Resources by 6.1% during the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 302,720 shares of the energy company's stock worth $26,794,000 after acquiring an additional 17,368 shares during the period. Institutional investors and hedge funds own 86.54% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on CNR shares. Zacks Research upgraded shares of Core Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded Core Natural Resources from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday. B. Riley Financial reaffirmed a "buy" rating on shares of Core Natural Resources in a research note on Thursday, April 30th. Wall Street Zen upgraded Core Natural Resources from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Finally, UBS Group cut their target price 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. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Core Natural Resources presently has an average rating of "Buy" and a consensus target price of $112.50.

Core Natural Resources Trading Up 2.6%

CNR opened at $95.90 on Friday. The firm's fifty day moving average is $84.78 and its two-hundred day moving average is $89.74. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.32 and a current ratio of 1.83. The firm has a market cap of $4.76 billion, a PE ratio of 48.19 and a beta of 0.14. Core Natural Resources, Inc. has a twelve month low of $68.78 and a twelve month high of $114.80.

Core Natural Resources (NYSE:CNR - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The energy company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $1.91. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. Core Natural Resources had a net margin of 2.34% and a return on equity of 0.03%. Equities research analysts anticipate that Core Natural Resources, Inc. will post 2.96 EPS for the current year.

Core Natural Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, August 31st. Core Natural Resources's dividend payout ratio (DPR) is 20.10%.

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

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