Public Sector Pension Investment Board Buys New Position in Core Natural Resources, Inc. (NYSE:CNR)

Key Points

• The Public Sector Pension Investment Board acquired a stake in Core Natural Resources, investing approximately $14.06 million for 182,327 shares.
• Core Natural Resources has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a target price of $105.80.
• The company reported a significant earnings miss in its latest quarter, with an EPS of ($0.70), far below the consensus estimate of $1.31.

Public Sector Pension Investment Board 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 13F filing with the Securities & Exchange Commission. The fund bought 182,327 shares of the energy company's stock, valued at approximately $14,057,000. Public Sector Pension Investment Board owned 0.34% of Core Natural Resources as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Versant Capital Management Inc purchased a new stake in Core Natural Resources in the first quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new stake in Core Natural Resources in the first quarter valued at $29,000. Farther Finance Advisors LLC purchased a new stake in Core Natural Resources in the first quarter valued at $30,000. Whipplewood Advisors LLC purchased a new stake in Core Natural Resources in the first quarter valued at $31,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Core Natural Resources in the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 86.54% of the company's stock.

Analyst Upgrades and Downgrades

CNR has been the subject of a number of research analyst reports. B. Riley lowered their target price on Core Natural Resources from $112.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, July 22nd. Benchmark lowered their target price on Core Natural Resources from $112.00 to $105.00 and set a "buy" rating for the company in a report on Friday, May 9th. UBS Group restated a "buy" rating and set a $86.00 target price (up from $78.00) on shares of Core Natural Resources in a report on Friday, August 8th. Finally, Jefferies Financial Group restated 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 analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $105.80.

Core Natural Resources Stock Down 4.8%

NYSE CNR traded down $3.60 during trading hours on Friday, hitting $71.17. 1,352,367 shares of the company were exchanged, compared to its average volume of 841,688. The company has a 50 day moving average of $73.43 and a two-hundred day moving average of $76.04. The company has a quick ratio of 1.25, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. Core Natural Resources, Inc. has a 52-week low of $58.19 and a 52-week high of $134.59. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 32.65 and a beta of 0.66.

Core Natural Resources (NYSE:CNR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The energy company reported ($0.70) earnings per share 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 company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.04 billion. Equities research analysts anticipate that Core Natural Resources, Inc. will post 11.4 earnings per share for the current year.

Core Natural Resources Cuts Dividend

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