Mackenzie Financial Corp Purchases Shares of 3,407 Core Natural Resources, Inc. (NYSE:CNR)

Key Points

• Mackenzie Financial Corp has acquired a new position in Core Natural Resources, purchasing 3,407 shares valued at approximately $263,000.
• Core Natural Resources saw a mix of institutional investments in the fourth quarter, with total new investments from various hedge funds exceeding $30 million.
• Analysts maintain a consensus rating of "Moderate Buy" for Core Natural Resources, with an average price target of $105.80.

Mackenzie Financial Corp acquired a new position in Core Natural Resources, Inc. (NYSE:CNR - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,407 shares of the energy company's stock, valued at approximately $263,000.

A number of other large investors have also modified their holdings of CNR. Versant Capital Management Inc bought a new position in Core Natural Resources in the 1st quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new position in Core Natural Resources in the 1st quarter valued at about $29,000. Farther Finance Advisors LLC bought a new position in Core Natural Resources in the 1st quarter valued at about $30,000. Whipplewood Advisors LLC bought a new position in Core Natural Resources in the 1st quarter valued at about $31,000. Finally, TruNorth Capital Management LLC bought a new position in Core Natural Resources in the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 86.54% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CNR shares. Jefferies Financial Group reiterated a "hold" rating and issued a $78.00 target price (up previously from $67.00) on shares of Core Natural Resources in a research report on Tuesday, August 5th. UBS Group restated a "buy" rating and set a $86.00 price objective (up previously from $78.00) on shares of Core Natural Resources in a research report on Friday, August 8th. B. Riley reduced their price objective on shares of 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. Finally, Benchmark reduced their price objective on shares of 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $105.80.

Core Natural Resources Stock Down 0.6%

Shares of NYSE CNR traded down $0.46 during mid-day trading on Thursday, reaching $74.30. The company had a trading volume of 320,406 shares, compared to its average volume of 969,667. The stock has a fifty day moving average of $73.17 and a two-hundred day moving average of $76.89. 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 $3.82 billion, a price-to-earnings ratio of 34.08 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.

Core Natural Resources (NYSE:CNR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The energy company reported ($0.70) earnings per share (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 analysts' expectations of $1.04 billion. Core Natural Resources had a return on equity of 3.01% and a net margin of 0.63%. As a group, equities research analysts expect 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 given a dividend of $0.10 per share. 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 (DPR) is presently 18.35%.

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.