Cresset Asset Management LLC Makes New Investment in Core Natural Resources, Inc. $CNR

Key Points

• Cresset Asset Management LLC has acquired a stake of 27,079 shares in Core Natural Resources, valued at approximately $2,088,000, representing 0.05% ownership in the company.
• Institutional investors hold 86.54% of Core Natural Resources' stock, with multiple new stakes established by various hedge funds in the first quarter.
• Core Natural Resources recently reported a significant miss in earnings per share, posting ($0.70) as opposed to the expected $1.31, while revenue of $1.10 billion exceeded estimates.

Cresset Asset Management LLC acquired a new stake in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 27,079 shares of the energy company's stock, valued at approximately $2,088,000. Cresset Asset Management LLC owned about 0.05% of Core Natural Resources at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CNR. Versant Capital Management Inc purchased a new position in Core Natural Resources during the first quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Core Natural Resources in the first quarter worth $29,000. Farther Finance Advisors LLC purchased a new position in shares of Core Natural Resources in the first quarter worth $30,000. Whipplewood Advisors LLC purchased a new stake in Core Natural Resources during the first quarter valued at $31,000. Finally, TruNorth Capital Management LLC purchased a new stake in Core Natural Resources during the first quarter valued at $33,000. Hedge funds and other institutional investors own 86.54% of the company's stock.

Core Natural Resources Stock Up 0.9%

Shares of NYSE:CNR traded up $0.68 on Monday, reaching $72.99. The company had a trading volume of 618,789 shares, compared to its average volume of 806,718. Core Natural Resources, Inc. has a 52-week low of $58.19 and a 52-week high of $134.59. The firm's 50 day simple moving average is $73.45 and its 200-day simple moving average is $73.24. The firm has a market capitalization of $3.76 billion, a PE ratio of 33.48 and a beta of 0.66. The company has a current ratio of 1.78, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09.

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 for the quarter, missing the consensus estimate of $1.31 by ($2.01). Core Natural Resources had a return on equity of 3.01% and a net margin of 0.63%.The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.04 billion. As a group, analysts expect that Core Natural Resources, Inc. will post 11.4 earnings per share for the current fiscal year.

Core Natural Resources Dividend Announcement

The firm also recently announced 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. 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 Analyst Weigh In

CNR has been the subject of a number of analyst reports. Benchmark reduced their price target 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. Jefferies Financial Group reissued a "hold" rating and set a $78.00 price target (up from $67.00) on shares of Core Natural Resources in a research note on Tuesday, August 5th. B. Riley dropped their price target on Core Natural Resources from $112.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, July 22nd. Finally, UBS Group reaffirmed a "buy" rating and issued a $86.00 price objective (up from $78.00) on shares of Core Natural Resources in a research note on Friday, August 8th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.