Independent Advisor Alliance Takes Position in Core Natural Resources, Inc. $CNR

Key Points

• Independent Advisor Alliance has purchased a significant stake in Core Natural Resources, Inc., acquiring 10,974 shares worth approximately $846,000.
• Core Natural Resources recently reported a loss of $0.70 EPS for the quarter, falling short of analysts' expectations, but its revenue of $1.10 billion exceeded forecasts.
• Despite the earnings miss, analysts maintain a Moderate Buy rating for the stock, with a target price averaging $105.80.

Independent Advisor Alliance bought a new position in Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 10,974 shares of the energy company's stock, valued at approximately $846,000.

Several other institutional investors have also recently made changes to their positions in CNR. Vanguard Group Inc. bought a new position in shares of Core Natural Resources in the first quarter worth about $482,793,000. Charles Schwab Investment Management Inc. bought a new position in Core Natural Resources in the 1st quarter worth about $48,630,000. Victory Capital Management Inc. bought a new position in Core Natural Resources in the 1st quarter worth about $42,950,000. Bank of New York Mellon Corp purchased a new position in shares of Core Natural Resources during the first quarter worth approximately $30,034,000. Finally, Pacer Advisors Inc. bought a new stake in shares of Core Natural Resources during the first quarter valued at approximately $23,003,000. Institutional investors own 86.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CNR. B. Riley reduced their price objective on Core Natural Resources from $112.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, July 22nd. Benchmark cut their price target on Core Natural Resources from $112.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. UBS Group restated a "buy" rating and issued a $86.00 price objective (up from $78.00) on shares of Core Natural Resources in a report on Friday, August 8th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $78.00 target price (up from $67.00) on shares of Core Natural Resources in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Core Natural Resources has a consensus rating of "Moderate Buy" and an average target price of $105.80.

Core Natural Resources Stock Up 0.6%

CNR stock traded up $0.46 during trading on Monday, reaching $71.46. 470,387 shares of the company traded hands, compared to its average volume of 970,683. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.25 and a current ratio of 1.78. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 32.78 and a beta of 0.66. The business has a 50 day simple moving average of $73.43 and a 200 day simple moving average of $75.22. Core Natural Resources, Inc. has a 12 month low of $58.19 and a 12 month high of $134.59.

Core Natural Resources (NYSE:CNR - Get Free Report) last released its earnings results on Tuesday, August 5th. The energy company reported ($0.70) EPS 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 return on equity of 3.01% and a net margin of 0.63%. On average, equities 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 firm also recently declared a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued 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 dividend payout ratio is presently 18.35%.

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.