Brandywine Global Investment Management LLC Makes New $7.36 Million Investment in Core Natural Resources, Inc. (NYSE:CNR)

Key Points

• Brandywine Global Investment Management LLC has made a significant investment of approximately $7.36 million in Core Natural Resources, acquiring 95,475 shares during the first quarter.
• Core Natural Resources reported a loss of $0.70 per share in its recent earnings, missing analysts' expectations, although it exceeded revenue estimates with $1.10 billion during the quarter.
• The company has seen substantial interest from institutional investors, with 86.54% of the stock owned by hedge funds and other large investors.

Brandywine Global Investment Management LLC purchased a new position in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 95,475 shares of the energy company's stock, valued at approximately $7,361,000. Brandywine Global Investment Management LLC owned about 0.18% of Core Natural Resources at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CNR. Vanguard Group Inc. purchased a new stake in Core Natural Resources during the 1st quarter worth about $482,793,000. Dimensional Fund Advisors LP purchased a new stake in Core Natural Resources during the 1st quarter worth about $225,045,000. Charles Schwab Investment Management Inc. purchased a new stake in Core Natural Resources during the 1st quarter worth about $48,630,000. Victory Capital Management Inc. purchased a new stake in Core Natural Resources during the 1st quarter worth about $42,950,000. Finally, Bank of New York Mellon Corp purchased a new stake in Core Natural Resources during the 1st quarter worth about $30,034,000. 86.54% of the stock is owned by hedge funds and other institutional investors.

Core Natural Resources Stock Down 4.8%

Shares of NYSE CNR opened at $71.17 on Friday. The stock has a market cap of $3.66 billion, a PE ratio of 32.65 and a beta of 0.66. 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, Inc. has a 52-week low of $58.19 and a 52-week high of $134.59. The business has a 50-day moving average price of $73.43 and a 200 day moving average price of $75.63.

Core Natural Resources (NYSE:CNR - Get Free Report) last announced its earnings results 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 firm 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%. Equities research analysts forecast that Core Natural Resources, Inc. will post 11.4 earnings per share for the current year.

Core Natural Resources Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CNR shares. UBS Group reaffirmed a "buy" rating and set a $86.00 price target (up from $78.00) on shares of Core Natural Resources in a report on Friday, August 8th. B. Riley reduced their target price 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. Jefferies Financial Group reissued a "hold" rating and issued a $78.00 target price (up from $67.00) on shares of Core Natural Resources in a research report on Tuesday, August 5th. Finally, Benchmark decreased their target price on Core Natural Resources from $112.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Core Natural Resources has a consensus rating of "Moderate Buy" and a consensus price target 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.

Want to see what other hedge funds are holding CNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Core Natural Resources, Inc. (NYSE:CNR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.