Independent Advisor Alliance Takes $846,000 Position in Core Natural Resources, Inc. (NYSE: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 stake in Core Natural Resources, Inc. (NYSE:CNR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,974 shares of the energy company's stock, valued at approximately $846,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Marshall Wace LLP purchased a new position in shares of Core Natural Resources in the 4th quarter worth $884,000. Price T Rowe Associates Inc. MD purchased a new position in Core Natural Resources in the fourth quarter valued at about $28,790,000. Public Employees Retirement Association of Colorado purchased a new position in Core Natural Resources in the fourth quarter valued at about $345,000. Captrust Financial Advisors purchased a new position in Core Natural Resources in the fourth quarter valued at about $241,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Core Natural Resources in the fourth quarter valued at about $706,000. Hedge funds and other institutional investors own 86.54% of the company's stock.

Core Natural Resources Stock Down 4.8%

Core Natural Resources stock traded down $3.60 during midday trading on Friday, hitting $71.17. The stock had a trading volume of 1,352,367 shares, compared to its average volume of 841,688. The company has a current ratio of 1.78, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average price of $73.43 and a 200 day moving average price of $75.63. Core Natural Resources, Inc. has a 12 month low of $58.19 and a 12 month high of $134.59. The stock has a market cap of $3.66 billion, a P/E ratio of 32.65 and a beta of 0.66.

Core Natural Resources (NYSE:CNR - Get Free Report) last issued 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). Core Natural Resources had a return on equity of 3.01% and a net margin of 0.63%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.04 billion. Research analysts predict that Core Natural Resources, Inc. will post 11.4 EPS for the current year.

Core Natural Resources Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were issued a $0.10 dividend. The ex-dividend date was Friday, May 30th. This represents a yield of 57.0%. Core Natural Resources's dividend payout ratio is currently 18.35%.

Analyst Upgrades and Downgrades

CNR has been the topic of several research reports. Benchmark cut their price objective on Core Natural Resources from $112.00 to $105.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Jefferies Financial Group reissued a "hold" rating and issued 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 reaffirmed a "buy" rating and set a $86.00 target price (up from $78.00) on shares of Core Natural Resources in a research report on Friday, August 8th. Finally, B. Riley dropped their target price on 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Core Natural Resources has a consensus rating of "Moderate Buy" and a consensus target price 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.