Magnetar Financial LLC Takes $6.62 Million Position in Core Natural Resources, Inc. $CNR

Key Points

• Magnetar Financial LLC invested approximately $6.62 million by purchasing 85,918 shares of Core Natural Resources, Inc. during the first quarter, holding about 0.16% of the company as of its latest SEC filing.
• Core Natural Resources reported a loss of ($0.70) earnings per share for the last quarter, significantly missing the consensus estimate of $1.31, while generating revenue of $1.10 billion.
• The company recently announced a dividend of $0.10 per share to be paid on September 15, representing a substantial yield of 56.0% with a payout ratio of 18.35%.

Magnetar Financial LLC purchased a new stake in Core Natural Resources, Inc. (NYSE:CNR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 85,918 shares of the energy company's stock, valued at approximately $6,624,000. Magnetar Financial LLC owned about 0.16% of Core Natural Resources as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new position in shares of Core Natural Resources in the 1st quarter valued at about $482,793,000. Dimensional Fund Advisors LP bought a new stake in Core Natural Resources during the 1st quarter worth approximately $225,045,000. American Century Companies Inc. bought a new stake in Core Natural Resources during the 1st quarter worth approximately $123,526,000. Charles Schwab Investment Management Inc. bought a new position in shares of Core Natural Resources in the first quarter valued at approximately $48,630,000. Finally, Victory Capital Management Inc. bought a new position in shares of Core Natural Resources in the first quarter valued at approximately $42,950,000. 86.54% of the stock is owned by institutional investors and hedge funds.

Core Natural Resources Stock Performance

CNR traded down $0.23 during mid-day trading on Wednesday, reaching $71.89. 157,698 shares of the company traded hands, compared to its average volume of 948,767. The stock has a market capitalization of $3.70 billion, a P/E ratio of 32.98 and a beta of 0.76. The company has a quick ratio of 1.25, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. The company's fifty day moving average price is $73.63 and its 200-day moving average price is $72.87. Core Natural Resources, Inc. has a 52-week low of $58.19 and a 52-week high of $134.59.

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 analysts' consensus estimates of $1.31 by ($2.01). The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.04 billion. Core Natural Resources had a net margin of 0.63% and a return on equity of 3.01%. On average, sell-side analysts expect that Core Natural Resources, Inc. will post 11.4 EPS for the current year.

Core Natural Resources Dividend Announcement

The firm also recently announced a dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a dividend of $0.10 per share. This represents a dividend yield of 56.0%. The ex-dividend date is Friday, August 29th. Core Natural Resources's dividend payout ratio is currently 18.35%.

Analysts Set New Price Targets

CNR has been the topic of several research analyst reports. UBS Group reiterated a "buy" rating and issued a $86.00 price objective (up previously from $78.00) on shares of Core Natural Resources in a research note on Friday, August 8th. Jefferies Financial Group reiterated a "hold" rating and issued a $78.00 price objective (up previously from $67.00) on shares of Core Natural Resources in a research report on Tuesday, August 5th. B. Riley reduced their target price on Core Natural Resources from $112.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. Finally, Benchmark reduced their price objective 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. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $105.80.

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.