Royce & Associates LP Sells 12,881 Shares of Core Natural Resources, Inc. $CNR

Key Points

• Royce & Associates LP cut its Core Natural Resources stake by 30.3% in the fourth quarter, selling 12,881 shares and ending with 29,691 shares worth about $2.63 million.
• Core Natural Resources fell 6.1% to $88.18, even after reporting quarterly EPS of $0.41, which beat estimates, though revenue came in below expectations at $899.48 million.
• The company recently declared a quarterly dividend of $0.10 per share and saw notable insider selling, including moves by Director Richard A. Navarre and CEO James A. Brock.

Royce & Associates LP lowered its holdings in Core Natural Resources, Inc. (NYSE:CNR - Free Report) by 30.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,691 shares of the energy company's stock after selling 12,881 shares during the quarter. Royce & Associates LP owned approximately 0.06% of Core Natural Resources worth $2,628,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. GeoSphere Capital Management LLC raised its holdings in shares of Core Natural Resources by 41.7% in the 4th quarter. GeoSphere Capital Management LLC now owns 85,000 shares of the energy company's stock valued at $7,523,000 after purchasing an additional 25,000 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Core Natural Resources in the 4th quarter valued at about $667,000. FourThought Financial Partners LLC bought a new stake in shares of Core Natural Resources in the 4th quarter valued at about $379,000. Leonteq Securities AG bought a new stake in shares of Core Natural Resources in the 4th quarter valued at about $70,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Core Natural Resources by 64.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,904 shares of the energy company's stock valued at $346,000 after purchasing an additional 1,537 shares in the last quarter. Institutional investors own 86.54% of the company's stock.

Core Natural Resources Trading Down 6.1%

NYSE CNR opened at $88.18 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 0.11. The firm has a market cap of $4.45 billion, a PE ratio of -72.28 and a beta of 0.14. The company has a 50 day moving average price of $92.65 and a 200 day moving average price of $90.35. Core Natural Resources, Inc. has a 52 week low of $64.15 and a 52 week high of $114.80.

Core Natural Resources (NYSE:CNR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The energy company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.28 by $0.13. Core Natural Resources had a negative net margin of 1.49% and a negative return on equity of 1.69%. The firm had revenue of $899.48 million during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the business posted $3.39 EPS. Core Natural Resources's revenue was up 94.7% on a year-over-year basis. As a group, sell-side analysts forecast that Core Natural Resources, Inc. will post 1.7 EPS for the current fiscal year.

Core Natural Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, May 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. Core Natural Resources's dividend payout ratio is presently -32.79%.

Insider Buying and Selling at Core Natural Resources

In other Core Natural Resources news, Director Richard A. Navarre sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $91.70, for a total transaction of $550,200.00. Following the transaction, the director owned 18,034 shares in the company, valued at approximately $1,653,717.80. This represents a 24.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James A. Brock sold 40,760 shares of the company's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $101.15, for a total transaction of $4,122,874.00. Following the transaction, the chief executive officer owned 100,000 shares in the company, valued at $10,115,000. The trade was a 28.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 51,560 shares of company stock worth $5,118,890. 2.49% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CNR shares. Wall Street Zen upgraded shares of Core Natural Resources from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. B. Riley Financial reiterated a "buy" rating on shares of Core Natural Resources in a research note on Thursday, April 30th. Zacks Research lowered shares of Core Natural Resources from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 19th. Weiss Ratings lowered shares of Core Natural Resources from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, May 20th. Finally, UBS Group boosted their price objective on shares of Core Natural Resources from $109.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, March 24th. Four analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $116.67.

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. This segment includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine, and the central preparation plant.

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