Rhumbline Advisers Purchases New Shares in Core Natural Resources, Inc. $CNR

Key Points

• Rhumbline Advisers has acquired 120,123 shares of Core Natural Resources, Inc. valued at approximately $9.3 million, resulting in a 0.23% ownership stake.
• Major hedge funds have shown significant interest, with Vanguard Group Inc. investing around $482.8 million in new positions during the same period.
• Analysts maintain a "Moderate Buy" consensus rating for Core Natural Resources, with an average price target of $105.80, reflecting overall positive sentiment for the stock.

Rhumbline Advisers bought a new stake in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 120,123 shares of the energy company's stock, valued at approximately $9,261,000. Rhumbline Advisers owned approximately 0.23% of Core Natural Resources at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. UBS Group reaffirmed a "buy" rating and set a $86.00 price target (up previously from $78.00) on shares of Core Natural Resources in a research report on Friday, August 8th. Jefferies Financial Group reiterated a "hold" rating and issued a $78.00 price target (up from $67.00) on shares of Core Natural Resources in a report on Tuesday, August 5th. Finally, 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 research note on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $105.80.

Core Natural Resources Stock Up 0.2%

CNR opened at $72.62 on Thursday. The stock's 50 day moving average price is $74.13 and its 200 day moving average price is $72.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.25. The stock has a market cap of $3.74 billion, a P/E ratio of 33.31 and a beta of 0.76. 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 quarterly earnings results 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). The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate 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, research analysts predict that Core Natural Resources, Inc. will post 11.4 earnings per share for the current year.

Core Natural Resources Dividend Announcement

The business also recently announced a dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a yield of 56.0%. 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.

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