Brandywine Global Investment Management LLC Acquires Shares of 95,475 Core Natural Resources, Inc. $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 bought a new stake in Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 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 quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. acquired a new position in shares of Core Natural Resources in the first quarter valued at approximately $482,793,000. Dimensional Fund Advisors LP bought a new stake in Core Natural Resources during the 1st quarter worth approximately $225,045,000. Charles Schwab Investment Management Inc. acquired a new position in Core Natural Resources in the 1st quarter valued at approximately $48,630,000. Victory Capital Management Inc. bought a new position in shares of Core Natural Resources during the first quarter valued at $42,950,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Core Natural Resources during the first quarter valued at $30,034,000. 86.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CNR. B. Riley reduced their price objective on shares of 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. Jefferies Financial Group reiterated a "hold" rating and issued a $78.00 price target (up previously from $67.00) on shares of Core Natural Resources in a research report on Tuesday, August 5th. Benchmark decreased their price target on Core Natural Resources from $112.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, UBS Group restated a "buy" rating and set a $86.00 price objective (up from $78.00) on shares of Core Natural Resources in a research report on Friday, August 8th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $105.80.

Core Natural Resources Stock Up 4.0%

CNR stock traded up $2.78 during mid-day trading on Friday, reaching $72.53. 301,915 shares of the company traded hands, compared to its average volume of 962,370. The company has a quick ratio of 1.25, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. The firm's 50 day moving average price is $73.48 and its 200 day moving average price is $74.25. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 33.27 and a beta of 0.66. Core Natural Resources, Inc. has a fifty-two week low of $58.19 and a fifty-two week high of $134.59.

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

Core Natural Resources Cuts Dividend

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

Core Natural Resources Company 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.