Federated Hermes Inc. Takes $11.29 Million Position in Core Natural Resources, Inc. (NYSE:CNR)

Key Points

• Federated Hermes Inc. acquired a new stake of 146,406 shares in Core Natural Resources, Inc., valued at approximately $11.3 million, representing about 0.27% ownership as of the latest SEC filing.
• Analysts have adjusted price targets for Core Natural Resources, with Benchmark lowering it from $112 to $105, and maintaining a "buy" rating, while the average price target is currently $118.60.
• Core Natural Resources recently reported a quarterly EPS of ($1.38), missing estimates, alongside a revenue of $1.02 billion exceeding expectations, while it has declared a dividend yielding 57.0%.

Federated Hermes Inc. purchased a new stake in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 146,406 shares of the energy company's stock, valued at approximately $11,288,000. Federated Hermes Inc. owned approximately 0.27% of Core Natural Resources at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Advisory Services Network LLC bought a new stake in Core Natural Resources in the fourth quarter worth $756,000. Marshall Wace LLP purchased a new stake in shares of Core Natural Resources during the fourth quarter valued at approximately $884,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Core Natural Resources during the fourth quarter valued at approximately $28,790,000. Public Employees Retirement Association of Colorado bought a new position in Core Natural Resources in the fourth quarter worth approximately $345,000. Finally, Captrust Financial Advisors purchased a new position in shares of Core Natural Resources in the 4th quarter worth $241,000. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

Core Natural Resources Stock Performance

CNR traded down $2.87 during trading hours on Wednesday, hitting $75.30. 286,650 shares of the stock were exchanged, compared to its average volume of 977,631. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.89 and a quick ratio of 1.34. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 15.56 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 stock has a 50-day simple moving average of $72.33 and a 200-day simple moving average of $78.96.

Core Natural Resources (NYSE:CNR - Get Free Report) last released its quarterly 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 analyst estimates of $1.04 billion. Core Natural Resources had a net margin of 4.29% and a return on equity of 8.32%. Analysts anticipate that Core Natural Resources, Inc. will post 11.4 earnings per share for the current year.

Core Natural Resources Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a $0.10 dividend. 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 8.26%.

Analyst Ratings Changes

CNR has been the topic of several research analyst reports. B. Riley dropped their target price 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. Benchmark cut their price objective on shares of Core Natural Resources from $112.00 to $105.00 and set a "buy" rating on the stock in a report on Friday, May 9th. UBS Group decreased their price objective on shares of Core Natural Resources from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Thursday, July 3rd. Finally, Jefferies Financial Group restated a "hold" rating and issued a $78.00 price target (up previously from $67.00) on shares of Core Natural Resources in a report on Tuesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $104.20.

Core Natural Resources 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.