Deutsche Bank AG Makes New $8.25 Million Investment in Core Natural Resources, Inc. $CNR

Key Points

• Deutsche Bank AG has invested $8.25 million in Core Natural Resources, acquiring 107,028 shares, representing about 0.20% of the company's total shares.
• Core Natural Resources reported a significant earnings miss with EPS of ($0.70), falling short of analyst expectations of $1.31, despite revenue exceeding estimates at $1.10 billion.
• Majority of Core Natural Resources' stock, approximately 86.54%, is held by institutional investors, indicating strong market confidence.

Deutsche Bank AG bought a new position in Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 107,028 shares of the energy company's stock, valued at approximately $8,252,000. Deutsche Bank AG owned about 0.20% of Core Natural Resources at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CNR. Vanguard Group Inc. purchased a new position in shares of Core Natural Resources in the first quarter valued at $482,793,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Core Natural Resources in the first quarter valued at $48,630,000. Victory Capital Management Inc. purchased a new position in shares of Core Natural Resources in the first quarter valued at $42,950,000. Bank of New York Mellon Corp purchased a new position in shares of Core Natural Resources in the first quarter valued at $30,034,000. Finally, Pacer Advisors Inc. purchased a new position in shares of Core Natural Resources in the first quarter valued at $23,003,000. 86.54% of the stock is owned by hedge funds and other institutional investors.

Core Natural Resources Price Performance

NYSE:CNR traded down $0.38 during trading hours on Wednesday, hitting $69.46. 705,537 shares of the company's stock traded hands, compared to its average volume of 822,683. The firm has a market cap of $3.58 billion, a P/E ratio of 31.86 and a beta of 0.66. Core Natural Resources, Inc. has a 52 week low of $58.19 and a 52 week high of $134.59. The business's fifty day simple moving average is $73.51 and its two-hundred day simple moving average is $74.70. 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 (NYSE:CNR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The energy company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($2.01). The business had revenue of $1.10 billion for 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%. On average, research analysts anticipate that Core Natural Resources, Inc. will post 11.4 earnings per share for the current fiscal year.

Core Natural Resources Cuts Dividend

The company also recently declared 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 payout ratio is 18.35%.

Wall Street Analysts Forecast Growth

CNR has been the subject of several recent research reports. B. Riley reduced their price target on Core Natural Resources from $112.00 to $110.00 and set a "buy" rating for the company in a research report on Tuesday, July 22nd. 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. UBS Group reiterated a "buy" rating and issued a $86.00 price target (up from $78.00) on shares of Core Natural Resources in a research report on Friday, August 8th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $78.00 price target (up from $67.00) on shares of Core Natural Resources in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the 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.