Sandler Capital Management Buys New Position in Core Natural Resources, Inc. $CNR

Key Points

• Sandler Capital Management has acquired a new stake in Core Natural Resources, purchasing 5,000 shares valued at approximately $386,000.
• Core Natural Resources reported a quarterly earnings miss, with an EPS of ($0.70), falling short of the consensus estimate by $2.01.
• The company announced a dividend of $0.10 per share scheduled for payment on September 15th, indicating a yield of 56.0%.

Sandler Capital Management bought a new position in Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,000 shares of the energy company's stock, valued at approximately $386,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new stake in shares of Core Natural Resources during the first quarter valued at approximately $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Core Natural Resources during the first quarter valued at approximately $29,000. Farther Finance Advisors LLC bought a new stake in shares of Core Natural Resources during the first quarter valued at approximately $30,000. Whipplewood Advisors LLC bought a new stake in shares of Core Natural Resources during the first quarter valued at approximately $31,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Core Natural Resources during the first quarter valued at approximately $33,000. Institutional investors own 86.54% of the company's stock.

Core Natural Resources Stock Performance

Shares of CNR traded down $0.48 during mid-day trading on Tuesday, hitting $72.57. 436,882 shares of the company traded hands, compared to its average volume of 658,229. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.25 and a current ratio of 1.78. The stock has a 50-day moving average price of $74.14 and a two-hundred day moving average price of $72.65. Core Natural Resources, Inc. has a 1 year low of $58.19 and a 1 year high of $134.59. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 33.29 and a beta of 0.76.

Core Natural Resources (NYSE:CNR - Get Free Report) last released its quarterly earnings data 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 net margin of 0.63% and a return on equity of 3.01%. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.04 billion. Equities analysts anticipate that Core Natural Resources, Inc. will post 11.4 earnings per share for the current year.

Core Natural Resources Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on CNR shares. UBS Group reissued 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 reissued a "hold" rating and set a $78.00 price target (up previously from $67.00) on shares of Core Natural Resources in a research report on Tuesday, August 5th. Finally, B. Riley reduced their price target on shares of Core Natural Resources from $112.00 to $110.00 and set a "buy" rating for the company in a research report on Tuesday, July 22nd. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.