Cynosure Group LLC Takes $367,000 Position in Core Natural Resources, Inc. (NYSE:CNR)

Key Points

• Cynosure Group LLC has acquired a new stake in Core Natural Resources, Inc., purchasing 4,755 shares valued at approximately $367,000.
• Core Natural Resources recently reported earnings that missed consensus estimates, posting ($0.70) EPS compared to an expected $1.31.
• The company cut its dividend to $0.10, resulting in a yield of 57.0%, with a payout ratio of 18.35%.

Cynosure Group LLC acquired a new stake in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,755 shares of the energy company's stock, valued at approximately $367,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Versant Capital Management Inc purchased a new position in Core Natural Resources during the first quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new position in Core Natural Resources during the first quarter valued at approximately $29,000. Farther Finance Advisors LLC purchased a new position in Core Natural Resources during the first quarter valued at approximately $30,000. Whipplewood Advisors LLC purchased a new position in Core Natural Resources during the first quarter valued at approximately $31,000. Finally, TruNorth Capital Management LLC purchased a new position in Core Natural Resources during the first quarter valued at approximately $33,000. 86.54% of the stock is owned by hedge funds and other institutional investors.

Core Natural Resources Stock Performance

CNR stock opened at $76.14 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 34.93 and a beta of 0.66. Core Natural Resources, Inc. has a 12 month low of $58.19 and a 12 month high of $134.59. The firm has a 50 day moving average of $72.66 and a two-hundred day moving average of $77.73.

Core Natural Resources (NYSE:CNR - Get Free Report) last posted its earnings results on Tuesday, August 5th. The energy company reported ($0.70) EPS for the quarter, missing the consensus estimate of $1.31 by ($2.01). The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.04 billion. Core Natural Resources had a return on equity of 3.01% and a net margin of 0.63%. As a group, equities analysts anticipate 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. Stockholders of record on Monday, June 2nd were paid a $0.10 dividend. This represents a dividend yield of 57.0%. The ex-dividend date was Friday, May 30th. Core Natural Resources's payout ratio is presently 18.35%.

Analyst Ratings Changes

CNR has been the topic of a number of research analyst reports. B. Riley lowered 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 report on Tuesday, July 22nd. Jefferies Financial Group reaffirmed a "hold" rating and set a $78.00 price objective (up from $67.00) on shares of Core Natural Resources in a research report on Tuesday, August 5th. UBS Group boosted their price objective on shares of Core Natural Resources from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Friday. Finally, Benchmark decreased their target price on shares of 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's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $105.80.

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.

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