6,261,908 Shares in Core Natural Resources, Inc. $CNR Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. acquired 6,261,908 shares of Core Natural Resources, Inc. (NYSE:CNR) during the first quarter, representing approximately 11.72% of the company's total shares.
• Core Natural Resources reported a loss of ($0.70) earnings per share for its recent quarter, missing estimates, despite revenue of $1.10 billion beating expectations.
• Multiple analysts have assigned a consensus target price of $105.80 with varying ratings, indicating a general belief in the stock's potential for recovery.

Vanguard Group Inc. bought a new position in Core Natural Resources, Inc. (NYSE:CNR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,261,908 shares of the energy company's stock, valued at approximately $482,793,000. Vanguard Group Inc. owned about 11.72% of Core Natural Resources as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Victory Capital Management Inc. acquired a new position in shares of Core Natural Resources in the first quarter worth about $42,950,000. Bank of New York Mellon Corp acquired a new stake in Core Natural Resources during the 1st quarter valued at $30,034,000. Pacer Advisors Inc. purchased a new stake in shares of Core Natural Resources in the first quarter valued at $23,003,000. Magnolia Group LLC acquired a new stake in shares of Core Natural Resources in the first quarter worth $22,899,000. Finally, Goehring & Rozencwajg Associates LLC purchased a new position in shares of Core Natural Resources during the first quarter valued at $20,729,000. 86.54% of the stock is owned by institutional investors and hedge funds.

Core Natural Resources Stock Down 1.2%

NYSE CNR traded down $0.88 during trading on Tuesday, hitting $70.07. 135,184 shares of the company traded hands, compared to its average volume of 968,562. The business has a fifty day simple moving average of $73.50 and a 200 day simple moving average of $74.77. Core Natural Resources, Inc. has a 12 month low of $58.19 and a 12 month high of $134.59. The company has a current ratio of 1.78, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $3.61 billion, a P/E ratio of 32.14 and a beta of 0.66.

Core Natural Resources (NYSE:CNR - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The energy company reported ($0.70) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.04 billion. As a group, sell-side analysts predict that Core Natural Resources, Inc. will post 11.4 EPS for the current year.

Core Natural Resources Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were given a $0.10 dividend. 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 (DPR) is currently 18.35%.

Analyst Ratings Changes

A number of brokerages have commented on CNR. Benchmark decreased their price objective on Core Natural Resources from $112.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, May 9th. B. Riley decreased 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 report on Tuesday, July 22nd. Jefferies Financial Group reiterated a "hold" rating and issued a $78.00 price objective (up previously from $67.00) on shares of Core Natural Resources in a research note on Tuesday, August 5th. Finally, UBS Group reissued a "buy" rating and set a $86.00 target price (up previously from $78.00) on shares of Core Natural Resources in a research note on Friday, August 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Core Natural Resources has a consensus rating of "Moderate Buy" and a consensus target price 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.