Royce & Associates LP Takes Position in Core Natural Resources, Inc. (NYSE:CNR)

Key Points

• Royce & Associates LP has acquired a new stake in Core Natural Resources, purchasing 43,150 shares valued at approximately $3.3 million, now owning 0.08% of the company.
• Core Natural Resources recently reported a loss of $1.38 per share for the quarter, significantly missing analysts’ expectations of $1.74, despite achieving revenue of $1.02 billion.
• Brokerage firms have downgraded their price targets for Core Natural Resources, with Benchmark lowering theirs from $112 to $105, while UBS reduced it from $80 to $78.

Royce & Associates LP purchased a new position in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 43,150 shares of the energy company's stock, valued at approximately $3,327,000. Royce & Associates LP owned 0.08% of Core Natural Resources as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. 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 shares of Core Natural Resources in the first quarter valued at approximately $29,000. Farther Finance Advisors LLC bought a new position in shares of Core Natural Resources in the first quarter valued at approximately $30,000. Whipplewood Advisors LLC bought a new position in shares of Core Natural Resources in the first quarter valued at approximately $31,000. Finally, TruNorth Capital Management LLC bought a new position in Core Natural Resources during the 1st quarter valued at $33,000. 86.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CNR shares. B. Riley dropped 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. UBS Group dropped their price target on shares of Core Natural Resources from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Thursday, July 3rd. Finally, Benchmark dropped their target price on shares of 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Core Natural Resources has an average rating of "Moderate Buy" and an average price target of $118.60.

Core Natural Resources Stock Performance

NYSE CNR traded down $1.19 during trading hours on Thursday, reaching $72.28. 509,556 shares of the company were exchanged, compared to its average volume of 980,039. Core Natural Resources, Inc. has a 1 year low of $58.19 and a 1 year high of $134.59. The business's 50 day simple moving average is $71.93 and its 200-day simple moving average is $80.98. The company has a quick ratio of 1.34, a current ratio of 1.89 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $3.81 billion, a P/E ratio of 14.93 and a beta of 0.68.

Core Natural Resources (NYSE:CNR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The energy company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($3.12). Core Natural Resources had a return on equity of 8.32% and a net margin of 4.29%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $964.15 million. On average, equities research analysts expect that Core Natural Resources, Inc. will post 11.4 earnings per share for the current year.

Core Natural Resources Cuts Dividend

The company 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. This represents a yield of 0.57%. The ex-dividend date was Friday, May 30th. Core Natural Resources's dividend payout ratio (DPR) is currently 8.26%.

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.