Goehring & Rozencwajg Associates LLC Boosts Stake in Core Natural Resources, Inc. $CNR

Key Points

• Goehring & Rozencwajg Associates increased its stake in Core Natural Resources by 134% in the first quarter, bringing its holdings to 708,225 shares worth about $74.2 million.
• Institutional ownership is very high, with hedge funds and other institutions controlling about 86.54% of the stock; several firms also added to or initiated positions recently.
• Analysts remain mixed but generally positive: the stock has a “Moderate Buy” consensus with an average target price of $111.67, though some firms recently cut ratings or price targets.

Goehring & Rozencwajg Associates LLC boosted its position in Core Natural Resources, Inc. (NYSE:CNR - Free Report) by 134.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 708,225 shares of the energy company's stock after purchasing an additional 405,505 shares during the period. Core Natural Resources comprises approximately 4.0% of Goehring & Rozencwajg Associates LLC's portfolio, making the stock its 9th biggest holding. Goehring & Rozencwajg Associates LLC owned 1.40% of Core Natural Resources worth $74,172,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GeoSphere Capital Management LLC lifted its holdings in Core Natural Resources by 41.7% during the fourth quarter. GeoSphere Capital Management LLC now owns 85,000 shares of the energy company's stock valued at $7,523,000 after purchasing an additional 25,000 shares during the last quarter. Nwam LLC purchased a new position in shares of Core Natural Resources in the fourth quarter worth about $3,112,000. Hosking Partners LLP increased its stake in shares of Core Natural Resources by 211.5% in the fourth quarter. Hosking Partners LLP now owns 69,689 shares of the energy company's stock worth $6,168,000 after purchasing an additional 47,315 shares in the last quarter. BW Gestao de Investimentos Ltda. bought a new stake in shares of Core Natural Resources in the fourth quarter valued at approximately $9,070,000. Finally, Marnell Management LLC bought a new stake in shares of Core Natural Resources in the fourth quarter valued at approximately $6,031,000. 86.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CNR shares. UBS Group cut their price objective on shares of Core Natural Resources from $107.00 to $100.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Weiss Ratings cut shares of Core Natural Resources from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, June 23rd. B. Riley Financial restated a "buy" rating on shares of Core Natural Resources in a research report on Thursday, April 30th. Zacks Research raised Core Natural Resources from a "strong sell" rating to a "hold" rating in a report on Wednesday, June 24th. Finally, Wall Street Zen upgraded Core Natural Resources from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $111.67.

Core Natural Resources Price Performance

CNR stock opened at $86.38 on Thursday. The firm has a 50 day moving average of $85.68 and a 200-day moving average of $90.99. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 0.11. Core Natural Resources, Inc. has a 12 month low of $68.78 and a 12 month high of $114.80. The firm has a market capitalization of $4.35 billion, a P/E ratio of -70.80 and a beta of 0.15.

Core Natural Resources (NYSE:CNR - Get Free Report) last posted its earnings results on Thursday, May 7th. The energy company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.13. Core Natural Resources had a negative net margin of 1.49% and a negative return on equity of 1.69%. The business had revenue of $899.48 million for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm posted $3.39 EPS. Core Natural Resources's revenue was up 94.7% on a year-over-year basis. As a group, sell-side analysts predict that Core Natural Resources, Inc. will post 2.45 earnings per share for the current fiscal year.

Core Natural Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. Core Natural Resources's dividend payout ratio is presently -32.79%.

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. This segment includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine, and the central preparation plant.

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